BNP Paribas Financial Markets Sells 72,898 Shares of MaxLinear, Inc. (NASDAQ:MXL)

BNP Paribas Financial Markets reduced its position in shares of MaxLinear, Inc. (NASDAQ:MXL - Free Report) by 22.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 252,544 shares of the semiconductor company's stock after selling 72,898 shares during the period. BNP Paribas Financial Markets owned 0.30% of MaxLinear worth $3,657,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Innealta Capital LLC bought a new position in MaxLinear in the 2nd quarter worth $30,000. International Assets Investment Management LLC bought a new position in MaxLinear in the second quarter worth about $31,000. Canada Pension Plan Investment Board purchased a new stake in MaxLinear in the second quarter worth about $56,000. Truvestments Capital LLC bought a new stake in MaxLinear during the 3rd quarter valued at approximately $42,000. Finally, GAMMA Investing LLC grew its holdings in shares of MaxLinear by 151.8% during the 3rd quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company's stock worth $50,000 after acquiring an additional 2,093 shares during the period. 90.79% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Connie H. Kwong sold 5,000 shares of the company's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $18.61, for a total value of $93,050.00. Following the completion of the transaction, the insider now owns 49,147 shares of the company's stock, valued at approximately $914,625.67. This represents a 9.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP William Torgerson sold 6,100 shares of the firm's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $15.40, for a total value of $93,940.00. Following the sale, the vice president now directly owns 179,262 shares in the company, valued at approximately $2,760,634.80. This represents a 3.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,900 shares of company stock valued at $276,078 over the last 90 days. Company insiders own 8.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MXL shares. Susquehanna cut MaxLinear from a "positive" rating to a "neutral" rating and lowered their target price for the company from $26.00 to $15.00 in a research note on Tuesday, October 1st. Needham & Company LLC reissued a "hold" rating on shares of MaxLinear in a research report on Thursday, October 24th. Benchmark reaffirmed a "buy" rating and issued a $22.00 target price on shares of MaxLinear in a research report on Thursday, October 24th. Wells Fargo & Company began coverage on shares of MaxLinear in a research report on Friday, November 22nd. They set an "equal weight" rating and a $14.00 price target for the company. Finally, Craig Hallum cut their price objective on shares of MaxLinear from $28.00 to $25.00 and set a "buy" rating on the stock in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $22.29.

MaxLinear Stock Down 3.4 %

MaxLinear stock traded down $0.66 during trading hours on Thursday, hitting $18.66. The stock had a trading volume of 2,560,383 shares, compared to its average volume of 1,025,840. The stock's 50-day moving average price is $14.72 and its 200-day moving average price is $16.07. The stock has a market capitalization of $1.57 billion, a P/E ratio of -6.86 and a beta of 1.87. MaxLinear, Inc. has a 12-month low of $11.08 and a 12-month high of $26.59. The company has a quick ratio of 1.38, a current ratio of 1.95 and a debt-to-equity ratio of 0.22.

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

MaxLinear Company 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.