Panagora Asset Management Inc. Raises Stake in MaxLinear, Inc. (NYSE:MXL)

Panagora Asset Management Inc. raised its position in shares of MaxLinear, Inc. (NYSE:MXL - Free Report) by 229.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 210,700 shares of the semiconductor company's stock after purchasing an additional 146,754 shares during the period. Panagora Asset Management Inc. owned 0.25% of MaxLinear worth $4,243,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in MaxLinear by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,535,449 shares of the semiconductor company's stock valued at $51,064,000 after purchasing an additional 128,585 shares during the period. Louisiana State Employees Retirement System boosted its stake in MaxLinear by 3.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 38,000 shares of the semiconductor company's stock valued at $765,000 after purchasing an additional 1,100 shares during the period. SG Americas Securities LLC boosted its stake in MaxLinear by 39.5% during the 2nd quarter. SG Americas Securities LLC now owns 12,184 shares of the semiconductor company's stock valued at $245,000 after purchasing an additional 3,453 shares during the period. Simplicity Wealth LLC boosted its stake in MaxLinear by 3.1% during the 2nd 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 period. Finally, Comerica Bank boosted its stake in MaxLinear by 472.6% during the 1st quarter. Comerica Bank now owns 194,405 shares of the semiconductor company's stock valued at $3,630,000 after purchasing an additional 160,456 shares during the period. 90.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on MXL shares. Needham & Company LLC lowered shares of MaxLinear from a "buy" rating to a "hold" rating in a research note on Thursday, July 25th. Benchmark reduced their price target on shares of MaxLinear from $28.00 to $22.00 and set a "buy" rating for the company in a research note on Thursday, July 25th. Northland Securities reduced their price target on shares of MaxLinear from $30.00 to $25.00 and set an "outperform" rating for the company in a research note on Thursday, July 25th. Susquehanna reduced their price target on shares of MaxLinear from $30.00 to $26.00 and set a "positive" rating for the company in a research note on Thursday, July 25th. Finally, Craig Hallum reduced their price target on shares of MaxLinear from $38.00 to $28.00 and set a "hold" rating for the company in a research note on Thursday, July 25th. One equities 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $24.67.

MaxLinear Price Performance

MXL stock traded up $1.39 on Friday, hitting $15.18. 2,462,991 shares of the company's stock traded hands, compared to its average volume of 890,806. MaxLinear, Inc. has a 1-year low of $11.08 and a 1-year high of $26.59. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -8.03 and a beta of 1.85. The stock has a fifty day moving average of $17.08 and a 200-day moving average of $18.58. The company has a current ratio of 2.09, a quick ratio of 1.59 and a debt-to-equity ratio of 0.20.

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

Insider Activity

In other news, CEO Kishore Seendripu purchased 108,303 shares of the business's stock in a transaction dated Tuesday, July 30th. The shares were acquired at an average price of $12.94 per share, for a total transaction of $1,401,440.82. Following the completion of the acquisition, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.60% of the stock is owned by company insiders.

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.