D. E. Shaw & Co. Inc. Has $29.89 Million Stock Holdings in MaxLinear, Inc. (NYSE:MXL)

D. E. Shaw & Co. Inc. cut its stake in MaxLinear, Inc. (NYSE:MXL - Free Report) by 5.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,484,324 shares of the semiconductor company's stock after selling 91,058 shares during the period. D. E. Shaw & Co. Inc. owned approximately 1.79% of MaxLinear worth $29,894,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Simplicity Wealth LLC lifted its holdings in MaxLinear by 3.1% in the 2nd quarter. Simplicity Wealth LLC now owns 19,283 shares of the semiconductor company's stock valued at $388,000 after acquiring an additional 579 shares during the last quarter. ProShare Advisors LLC boosted its holdings in MaxLinear by 7.4% during the first quarter. ProShare Advisors LLC now owns 15,304 shares of the semiconductor company's stock worth $286,000 after buying an additional 1,061 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in 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 in the last quarter. Swiss National Bank grew its position in MaxLinear by 0.9% in the first quarter. Swiss National Bank now owns 152,973 shares of the semiconductor company's stock worth $2,856,000 after buying an additional 1,300 shares during the last quarter. Finally, Texas Permanent School Fund Corp increased its holdings in shares of MaxLinear by 2.2% in the first quarter. Texas Permanent School Fund Corp now owns 65,248 shares of the semiconductor company's stock valued at $1,218,000 after buying an additional 1,375 shares in the last quarter. Institutional investors and hedge funds own 90.79% of the company's stock.

MaxLinear Stock Down 0.7 %

MXL stock traded down $0.10 during midday trading on Friday, reaching $15.20. The company had a trading volume of 764,158 shares, compared to its average volume of 905,441. The company has a 50 day moving average of $13.91 and a two-hundred day moving average of $17.83. The company has a market capitalization of $1.26 billion, a P/E ratio of -8.04 and a beta of 1.84. MaxLinear, Inc. has a 1 year low of $11.08 and a 1 year high of $26.59. 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 announced 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 firm had revenue of $92.00 million for the quarter, compared to analysts' expectations of $100.25 million. During the same quarter in the prior year, the business posted $0.19 earnings per share. MaxLinear's revenue was down 50.0% on a year-over-year basis. On average, equities research analysts expect that MaxLinear, Inc. will post -1.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MXL shares. Benchmark reduced their price objective on MaxLinear from $28.00 to $22.00 and set a "buy" rating for the company in a research note on Thursday, July 25th. Craig Hallum dropped their price target on MaxLinear from $38.00 to $28.00 and set a "hold" rating on the stock in a research note on Thursday, July 25th. Susquehanna reduced their price objective 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. Needham & Company LLC cut shares of MaxLinear from a "buy" rating to a "hold" rating in a report on Thursday, July 25th. Finally, Northland Securities cut their price target on shares of MaxLinear from $30.00 to $25.00 and set an "outperform" rating on the stock in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $24.67.

Insider Activity at MaxLinear

In other MaxLinear news, CEO Kishore Seendripu purchased 108,303 shares of the company's stock in a transaction dated Tuesday, July 30th. The shares were bought at an average price of $12.94 per share, for a total transaction of $1,401,440.82. Following the purchase, the chief executive officer now directly owns 531,937 shares in the company, valued at approximately $6,883,264.78. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.60% of the stock is currently owned by company insiders.

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.