Assenagon Asset Management S.A. Increases Holdings in MaxLinear, Inc. (NASDAQ:MXL)

Assenagon Asset Management S.A. lifted its stake in shares of MaxLinear, Inc. (NASDAQ:MXL - Free Report) by 339.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,250,769 shares of the semiconductor company's stock after acquiring an additional 966,468 shares during the quarter. Assenagon Asset Management S.A. owned approximately 1.48% of MaxLinear worth $24,740,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp increased its stake in MaxLinear by 5.1% in the 3rd quarter. State Street Corp now owns 4,123,419 shares of the semiconductor company's stock worth $59,707,000 after buying an additional 198,791 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of MaxLinear by 10.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,071,183 shares of the semiconductor company's stock worth $41,714,000 after purchasing an additional 192,021 shares in the last quarter. Geode Capital Management LLC raised its stake in MaxLinear by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,805,722 shares of the semiconductor company's stock valued at $26,152,000 after purchasing an additional 6,420 shares during the period. Hood River Capital Management LLC purchased a new stake in MaxLinear during the 2nd quarter valued at approximately $24,184,000. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in MaxLinear during the 3rd quarter valued at approximately $16,696,000. 90.79% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at MaxLinear

In other MaxLinear news, insider Connie H. Kwong sold 5,000 shares of the company's stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $18.61, for a total value of $93,050.00. Following the transaction, the insider now owns 49,147 shares of the company's stock, valued at $914,625.67. This represents a 9.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Steven G. Litchfield sold 32,000 shares of the business's stock in a transaction on Friday, December 13th. The shares were sold at an average price of $20.35, for a total transaction of $651,200.00. Following the sale, the insider now directly owns 365,868 shares of the company's stock, valued at $7,445,413.80. This represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,900 shares of company stock worth $927,278. 8.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MXL has been the topic of a number of research reports. Benchmark lifted their price target on shares of MaxLinear from $22.00 to $28.00 and gave the company a "buy" rating in a report on Monday, December 9th. Wells Fargo & Company lifted their target price on MaxLinear from $14.00 to $19.00 and gave the stock an "equal weight" rating in a report on Monday. Susquehanna lowered MaxLinear from a "positive" rating to a "neutral" rating and dropped their price target for the company from $26.00 to $15.00 in a research note on Tuesday, October 1st. Craig Hallum reduced their price objective on MaxLinear from $28.00 to $25.00 and set a "buy" rating on the stock in a research note on Thursday, October 24th. Finally, Northland Securities increased their target price on MaxLinear from $25.00 to $27.50 and gave the company an "outperform" rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $24.21.

MaxLinear Trading Up 6.4 %

Shares of NASDAQ:MXL traded up $1.44 during trading on Friday, hitting $24.05. The company had a trading volume of 1,352,800 shares, compared to its average volume of 1,436,082. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of -8.84 and a beta of 1.79. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.95 and a quick ratio of 1.38. The company has a fifty day simple moving average of $18.35 and a two-hundred day simple moving average of $16.41. MaxLinear, Inc. has a one year low of $11.08 and a one year high of $26.59.

MaxLinear (NASDAQ:MXL - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.04). The company had revenue of $81.10 million during the quarter, compared to the consensus estimate of $80.40 million. MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%. The firm's quarterly revenue was down 40.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.02) earnings per share. As a group, equities analysts forecast that MaxLinear, Inc. will post -1.66 earnings per share for the current year.

MaxLinear Profile

MaxLinear, Inc provides communications systems-on-chip solutions worldwide. Its products integrate various portions of a high-speed communication system, including radio frequency, high-performance analog, mixed-signal, digital signal processing, security engines, data compression and networking layers, and power management.