Fmr LLC Raises Stock Position in MaxLinear, Inc. (NASDAQ:MXL)

FMR LLC grew its stake in shares of MaxLinear, Inc. (NASDAQ:MXL - Free Report) by 184.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 456,929 shares of the semiconductor company's stock after purchasing an additional 296,339 shares during the period. FMR LLC owned about 0.54% of MaxLinear worth $6,616,000 as of its most recent filing with the SEC.

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

Insider Activity

In other MaxLinear news, VP William Torgerson sold 6,100 shares of the firm's stock in a transaction on 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 owns 179,262 shares of the company's stock, valued at $2,760,634.80. This trade represents a 3.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Connie H. Kwong sold 5,000 shares of the company's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $18.61, for a total transaction of $93,050.00. Following the transaction, the insider now directly owns 49,147 shares of the company's stock, valued at approximately $914,625.67. This trade represents a 9.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,900 shares of company stock worth $276,078. 8.60% of the stock is currently owned by corporate insiders.

MaxLinear Price Performance

Shares of MXL stock traded up $1.09 during trading hours on Friday, reaching $20.68. The stock had a trading volume of 2,190,593 shares, compared to its average volume of 1,037,161. The stock's fifty day simple moving average is $15.23 and its 200 day simple moving average is $16.08. The firm has a market capitalization of $1.74 billion, a PE ratio of -7.86 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 current ratio of 1.95, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22.

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

Analyst Upgrades and Downgrades

MXL has been the subject of several research reports. Craig Hallum reduced their price target on shares of 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 began coverage on MaxLinear in a research report on Friday, November 22nd. They issued an "equal weight" rating and a $14.00 target price for the company. Benchmark upped their price target on MaxLinear from $22.00 to $28.00 and gave the company a "buy" rating in a research report on Monday. Susquehanna lowered MaxLinear from a "positive" rating to a "neutral" rating and decreased their price objective for the stock from $26.00 to $15.00 in a report on Tuesday, October 1st. Finally, Needham & Company LLC restated a "hold" rating on shares of MaxLinear in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, MaxLinear currently has a consensus rating of "Hold" and a consensus price target of $23.14.

About MaxLinear

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.