Algert Global LLC Trims Position in MaxLinear, Inc. (NYSE:MXL)

Algert Global LLC trimmed its stake in shares of MaxLinear, Inc. (NYSE:MXL - Free Report) by 35.6% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 187,700 shares of the semiconductor company's stock after selling 103,832 shares during the quarter. Algert Global LLC owned about 0.23% of MaxLinear worth $3,780,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of MXL. Headlands Technologies LLC bought a new stake in shares of MaxLinear during the 1st quarter worth $27,000. Innealta Capital LLC bought a new stake in shares of MaxLinear during the 2nd quarter worth $30,000. International Assets Investment Management LLC bought a new stake in shares of MaxLinear during the 2nd quarter worth $31,000. Canada Pension Plan Investment Board bought a new stake in shares of MaxLinear during the 2nd quarter worth $56,000. Finally, EntryPoint Capital LLC acquired a new position in MaxLinear in the 1st quarter worth about $59,000. 90.79% of the stock is currently owned by institutional investors.

MaxLinear Price Performance

Shares of MXL traded down $1.74 during trading hours on Tuesday, reaching $12.74. 1,218,908 shares of the company's stock traded hands, compared to its average volume of 908,016. The stock has a market cap of $1.06 billion, a PE ratio of -6.96 and a beta of 1.84. 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, Inc. has a 12 month low of $11.08 and a 12 month high of $26.59. The firm's 50 day simple moving average is $13.69 and its 200-day simple moving average is $17.80.

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 for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.06). The firm had revenue of $92.00 million for the quarter, compared to analysts' expectations of $100.25 million. MaxLinear had a negative net margin of 42.38% and a negative return on equity of 12.39%. The business's quarterly revenue was down 50.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.19 earnings per share. Equities analysts expect that MaxLinear, Inc. will post -1.6 EPS for the current year.

Analyst Ratings Changes

MXL has been the subject of a number of recent research reports. Benchmark lowered their target price on MaxLinear from $28.00 to $22.00 and set a "buy" rating for the company in a report on Thursday, July 25th. Susquehanna downgraded MaxLinear from a "positive" rating to a "neutral" rating and cut their price target for the stock from $26.00 to $15.00 in a research note on Tuesday. Northland Securities cut their price target on MaxLinear from $30.00 to $25.00 and set an "outperform" rating for the company in a research note on Thursday, July 25th. Stifel Nicolaus raised their target price on MaxLinear from $26.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, July 18th. Finally, Craig Hallum cut their target price on MaxLinear from $38.00 to $28.00 and set a "hold" rating for the company in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $23.44.

Insider Activity at MaxLinear

In related news, CEO Kishore Seendripu purchased 108,303 shares of the firm's stock in a transaction on Tuesday, July 30th. The shares were acquired 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 purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 8.60% of the stock is currently owned by 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.