Millennium Management LLC Acquires 788,558 Shares of MaxLinear, Inc. (NYSE:MXL)

Millennium Management LLC lifted its holdings in MaxLinear, Inc. (NYSE:MXL - Free Report) by 307.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,044,648 shares of the semiconductor company's stock after purchasing an additional 788,558 shares during the quarter. Millennium Management LLC owned 1.26% of MaxLinear worth $21,039,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. 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 in the last quarter. ProShare Advisors LLC raised its position in MaxLinear by 7.4% in the first quarter. ProShare Advisors LLC now owns 15,304 shares of the semiconductor company's stock worth $286,000 after acquiring an additional 1,061 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in MaxLinear by 3.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 38,000 shares of the semiconductor company's stock valued at $765,000 after acquiring an additional 1,100 shares during the last quarter. Swiss National Bank lifted its holdings in MaxLinear by 0.9% in the 1st quarter. Swiss National Bank now owns 152,973 shares of the semiconductor company's stock valued at $2,856,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Texas Permanent School Fund Corp boosted its position in shares of MaxLinear by 2.2% during the 1st quarter. Texas Permanent School Fund Corp now owns 65,248 shares of the semiconductor company's stock valued at $1,218,000 after purchasing an additional 1,375 shares in the last quarter. 90.79% of the stock is owned by institutional investors and hedge funds.

MaxLinear Stock Performance

Shares of NYSE MXL remained flat at $13.42 during mid-day trading on Friday. 651,978 shares of the stock were exchanged, compared to its average volume of 916,752. The company has a quick ratio of 1.59, a current ratio of 2.09 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $1.12 billion, a P/E ratio of -7.10 and a beta of 1.83. The business has a 50-day simple moving average of $13.30 and a two-hundred day simple moving average of $17.68. MaxLinear, Inc. has a 1-year low of $11.08 and a 1-year high of $26.59.

MaxLinear (NYSE:MXL - Get Free Report) last released its 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 return on equity of 12.39% and a negative net margin of 42.38%. The company had revenue of $92.00 million during the quarter, compared to analysts' expectations of $100.25 million. During the same quarter in the previous year, the company earned $0.19 EPS. The firm's quarterly revenue was down 50.0% compared to the same quarter last year. Sell-side analysts forecast that MaxLinear, Inc. will post -1.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MXL has been the subject of several recent research reports. Needham & Company LLC lowered shares of MaxLinear from a "buy" rating to a "hold" rating in a research note on Thursday, July 25th. Craig Hallum reduced their price objective on MaxLinear from $38.00 to $28.00 and set a "hold" rating for the company in a research note on Thursday, July 25th. Stifel Nicolaus boosted their target price on MaxLinear from $26.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, July 18th. Benchmark reduced 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. Finally, Susquehanna cut MaxLinear from a "positive" rating to a "neutral" rating and dropped their price target for the stock from $26.00 to $15.00 in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, MaxLinear currently has an average rating of "Hold" and a consensus price target of $23.44.

Insider Activity at MaxLinear

In other news, CEO Kishore Seendripu acquired 108,303 shares of the company's stock in a transaction that occurred on Tuesday, July 30th. The shares were purchased 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 owns 531,937 shares of the company's stock, valued at approximately $6,883,264.78. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 8.60% of the company's stock.

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.