Franklin Resources Inc. Cuts Stake in MaxLinear, Inc. (NASDAQ:MXL)

Franklin Resources Inc. lowered its stake in shares of MaxLinear, Inc. (NASDAQ:MXL - Free Report) by 65.4% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 28,179 shares of the semiconductor company's stock after selling 53,288 shares during the period. Franklin Resources Inc.'s holdings in MaxLinear were worth $411,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC lifted its position in shares of 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 buying an additional 6,420 shares in the last quarter. Barclays PLC lifted its stake in MaxLinear by 47.6% in the 3rd quarter. Barclays PLC now owns 335,804 shares of the semiconductor company's stock worth $4,860,000 after purchasing an additional 108,346 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of MaxLinear by 4,298.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 20,979 shares of the semiconductor company's stock worth $304,000 after purchasing an additional 20,502 shares during the last quarter. Orion Portfolio Solutions LLC grew its position in shares of MaxLinear by 35.7% in the third quarter. Orion Portfolio Solutions LLC now owns 32,259 shares of the semiconductor company's stock valued at $467,000 after purchasing an additional 8,495 shares in the last quarter. Finally, Two Sigma Advisers LP increased its holdings in shares of MaxLinear by 21.8% in the third quarter. Two Sigma Advisers LP now owns 694,149 shares of the semiconductor company's stock valued at $10,051,000 after purchasing an additional 124,300 shares during the last quarter. Institutional investors and hedge funds own 90.79% of the company's stock.

Insider Buying and Selling at MaxLinear

In other news, Director Ted L. Tewksbury III sold 5,800 shares of MaxLinear stock in a transaction 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 of the company's stock, valued at $1,070,853.12. The trade was a 7.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP William Torgerson sold 6,100 shares of the firm's 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 transaction, the vice president now directly owns 179,262 shares in the company, valued at $2,760,634.80. The trade was a 3.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,900 shares of company stock worth $927,278 over the last three months. Insiders own 8.60% of the company's stock.

MaxLinear Stock Down 3.1 %

NASDAQ:MXL traded down $0.64 during mid-day trading on Wednesday, hitting $19.78. The stock had a trading volume of 1,036,581 shares, compared to its average volume of 1,048,994. 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, Inc. has a twelve month low of $11.08 and a twelve month high of $26.59. The company has a market capitalization of $1.67 billion, a PE ratio of -7.27 and a beta of 1.87. The stock has a 50-day simple moving average of $16.92 and a two-hundred day simple moving average of $16.30.

MaxLinear (NASDAQ:MXL - Get Free Report) last released 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). MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%. The business had revenue of $81.10 million for the quarter, compared to analyst estimates of $80.40 million. During the same period in the prior year, the company posted ($0.02) earnings per share. The company's revenue was down 40.2% compared to the same quarter last year. On average, equities research analysts anticipate that MaxLinear, Inc. will post -1.66 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Benchmark upped their target price on MaxLinear from $22.00 to $28.00 and gave the company a "buy" rating in a report on Monday, December 9th. Susquehanna cut shares of 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 decreased their target price on shares of MaxLinear from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Thursday, October 24th. Wells Fargo & Company began coverage on shares of MaxLinear in a research note on Friday, November 22nd. They issued an "equal weight" rating and a $14.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of MaxLinear in a research report on Thursday, October 24th. One research 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's stock. According to data from MarketBeat.com, MaxLinear presently has an average rating of "Hold" and a consensus target price of $23.14.

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.