Bank of New York Mellon Corp lessened its stake in MaxLinear, Inc. (NASDAQ:MXL - Free Report) by 14.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 471,739 shares of the semiconductor company's stock after selling 76,561 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.56% of MaxLinear worth $9,331,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the stock. Vaughan Nelson Investment Management L.P. bought a new position in MaxLinear during the 3rd quarter worth $16,696,000. Assenagon Asset Management S.A. increased its position in shares of MaxLinear by 339.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,250,769 shares of the semiconductor company's stock worth $24,740,000 after purchasing an additional 966,468 shares during the period. FMR LLC increased its position in shares of MaxLinear by 184.5% in the third quarter. FMR LLC now owns 456,929 shares of the semiconductor company's stock worth $6,616,000 after purchasing an additional 296,339 shares during the period. Jacobs Levy Equity Management Inc. increased its position in shares of MaxLinear by 36.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,089,065 shares of the semiconductor company's stock worth $15,770,000 after purchasing an additional 291,874 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of MaxLinear by 44.6% in the third quarter. JPMorgan Chase & Co. now owns 935,739 shares of the semiconductor company's stock worth $13,550,000 after purchasing an additional 288,607 shares during the period. Institutional investors and hedge funds own 90.79% of the company's stock.
MaxLinear Price Performance
Shares of NASDAQ:MXL traded down $0.40 on Tuesday, hitting $12.83. The company's stock had a trading volume of 806,114 shares, compared to its average volume of 2,055,922. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.77 and a quick ratio of 1.28. The company has a 50-day simple moving average of $17.73 and a 200 day simple moving average of $16.46. The company has a market capitalization of $1.09 billion, a PE ratio of -4.38 and a beta of 1.76. MaxLinear, Inc. has a 1 year low of $11.08 and a 1 year high of $26.59.
MaxLinear (NASDAQ:MXL - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported ($0.27) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.14). MaxLinear had a negative return on equity of 21.94% and a negative net margin of 68.01%. Sell-side analysts forecast that MaxLinear, Inc. will post -0.37 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on MXL. Benchmark reiterated a "buy" rating and issued a $28.00 target price on shares of MaxLinear in a research report on Thursday, January 30th. Needham & Company LLC reiterated a "hold" rating on shares of MaxLinear in a research report on Thursday, January 30th. Northland Securities lifted their price target on MaxLinear from $25.00 to $27.50 and gave the company an "outperform" rating in a research note on Monday, January 6th. Wells Fargo & Company lifted their price target on MaxLinear from $19.00 to $20.00 and gave the company an "equal weight" rating in a research note on Thursday, January 30th. Finally, Susquehanna cut their price target on MaxLinear from $25.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, MaxLinear has an average rating of "Hold" and an average price target of $25.50.
Read Our Latest Report on MXL
MaxLinear Company Profile
(
Free Report)
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.
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