Connor Clark & Lunn Investment Management Ltd. Sells 36,726 Shares of MaxLinear, Inc. (NASDAQ:MXL)

Connor Clark & Lunn Investment Management Ltd. trimmed its position in MaxLinear, Inc. (NASDAQ:MXL - Free Report) by 42.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,448 shares of the semiconductor company's stock after selling 36,726 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.06% of MaxLinear worth $716,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of MXL. Simplicity Wealth LLC grew its position in shares of MaxLinear by 3.1% in the second quarter. Simplicity Wealth LLC now owns 19,283 shares of the semiconductor company's stock valued at $388,000 after purchasing an additional 579 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of MaxLinear by 3.0% during the second quarter. Louisiana State Employees Retirement System now owns 38,000 shares of the semiconductor company's stock worth $765,000 after buying an additional 1,100 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of MaxLinear by 20.3% in the third quarter. Nisa Investment Advisors LLC now owns 7,761 shares of the semiconductor company's stock valued at $112,000 after acquiring an additional 1,308 shares during the period. Innealta Capital LLC acquired a new stake in shares of MaxLinear in the second quarter worth $30,000. Finally, International Assets Investment Management LLC acquired a new position in MaxLinear during the 2nd quarter valued at $31,000. 90.79% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Ted L. Tewksbury III sold 5,800 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $15.36, for a total value of $89,088.00. Following the transaction, the director now directly owns 69,717 shares in the company, valued at $1,070,853.12. This represents a 7.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP William Torgerson sold 6,100 shares of MaxLinear stock in a transaction on Friday, November 8th. The stock was sold at an average price of $15.40, for a total transaction of $93,940.00. Following the sale, the vice president now directly owns 179,262 shares of the company's stock, valued at $2,760,634.80. This represents a 3.29 % decrease in their position. The disclosure for this sale can be found here. 8.60% of the stock is owned by corporate insiders.

MaxLinear Price Performance

MXL stock traded up $0.58 during trading on Friday, hitting $15.13. 569,796 shares of the stock traded hands, compared to its average volume of 997,691. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -5.35 and a beta of 1.85. MaxLinear, Inc. has a one year low of $11.08 and a one year high of $26.59. The company has a current ratio of 1.95, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22. The company has a 50 day simple moving average of $14.45 and a 200 day simple moving average of $16.13.

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

Analyst Ratings Changes

MXL has been the subject of a number of research reports. Craig Hallum reduced their price objective on MaxLinear from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Thursday, October 24th. Wells Fargo & Company started coverage on shares of MaxLinear in a research note on Friday, November 22nd. They set an "equal weight" rating and a $14.00 price target on the stock. Needham & Company LLC reissued a "hold" rating on shares of MaxLinear in a report on Thursday, October 24th. Benchmark reaffirmed a "buy" rating and set a $22.00 price objective on shares of MaxLinear in a report on Thursday, October 24th. Finally, Susquehanna cut shares of 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $22.29.

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.