Assenagon Asset Management S.A. Has $5.61 Million Stake in MaxLinear, Inc. (NYSE:MXL)

Assenagon Asset Management S.A. decreased its position in shares of MaxLinear, Inc. (NYSE:MXL - Free Report) by 19.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 278,596 shares of the semiconductor company's stock after selling 68,277 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.34% of MaxLinear worth $5,611,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets grew its holdings in shares of MaxLinear by 58.0% during the first quarter. BNP Paribas Financial Markets now owns 265,567 shares of the semiconductor company's stock worth $4,958,000 after purchasing an additional 97,447 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of MaxLinear during the fourth quarter worth about $882,000. Vanguard Group Inc. grew its holdings in shares of MaxLinear by 8.5% during the fourth quarter. Vanguard Group Inc. now owns 11,586,273 shares of the semiconductor company's stock worth $275,406,000 after purchasing an additional 903,235 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of MaxLinear by 291.5% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 120,873 shares of the semiconductor company's stock worth $2,873,000 after purchasing an additional 90,000 shares during the last quarter. Finally, Edgestream Partners L.P. grew its holdings in shares of MaxLinear by 69.5% during the first quarter. Edgestream Partners L.P. now owns 105,355 shares of the semiconductor company's stock worth $1,967,000 after purchasing an additional 43,181 shares during the last quarter. Hedge funds and other institutional investors own 90.79% of the company's stock.

Insider Buying and Selling at MaxLinear

In related news, CEO Kishore Seendripu acquired 108,303 shares of the stock in a transaction dated Tuesday, July 30th. The stock was bought at an average cost of $12.94 per share, with a total value of $1,401,440.82. Following the purchase, the chief executive officer now directly owns 531,937 shares of the company's stock, valued at $6,883,264.78. The transaction was disclosed in a filing with the SEC, which is available through this link. 8.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Craig Hallum lowered their price target on MaxLinear from $38.00 to $28.00 and set a "hold" rating on the stock in a report on Thursday, July 25th. Needham & Company LLC lowered MaxLinear from a "buy" rating to a "hold" rating in a report on Thursday, July 25th. Northland Securities lowered their price target on MaxLinear from $30.00 to $25.00 and set an "outperform" rating on the stock in a report on Thursday, July 25th. Stifel Nicolaus raised their price target on MaxLinear from $26.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, July 18th. Finally, Benchmark lowered their price target on MaxLinear from $28.00 to $22.00 and set a "buy" rating on the stock in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $24.67.

MaxLinear Stock Performance

MXL traded up $0.24 during trading on Monday, reaching $12.79. The company's stock had a trading volume of 681,939 shares, compared to its average volume of 874,187. The company's fifty day moving average price is $18.20 and its 200-day moving average price is $18.97. MaxLinear, Inc. has a 52-week low of $11.08 and a 52-week high of $26.59. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.59 and a current ratio of 2.09. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -6.64 and a beta of 1.85.

MaxLinear (NYSE:MXL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.06). MaxLinear had a negative return on equity of 12.39% and a negative net margin of 42.38%. The company had revenue of $92.00 million for the quarter, compared to analyst estimates of $100.25 million. During the same quarter in the prior year, the firm earned $0.19 earnings per share. The company's revenue for the quarter was down 50.0% on a year-over-year basis. On average, equities analysts forecast that MaxLinear, Inc. will post -1.6 earnings per share for the current fiscal year.

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.