Healthcare of Ontario Pension Plan Trust Fund Raises Holdings in MaxLinear, Inc. (NYSE:MXL)

Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of MaxLinear, Inc. (NYSE:MXL - Free Report) by 44.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 166,200 shares of the semiconductor company's stock after purchasing an additional 51,200 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.20% of MaxLinear worth $3,347,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Hood River Capital Management LLC bought a new stake in MaxLinear in the second quarter worth about $24,184,000. Vanguard Group Inc. raised its holdings in shares of MaxLinear by 8.5% in the 4th 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 period. Millennium Management LLC lifted its stake in MaxLinear by 307.9% in the second quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company's stock valued at $21,039,000 after purchasing an additional 788,558 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in MaxLinear by 10.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,071,183 shares of the semiconductor company's stock valued at $41,714,000 after purchasing an additional 192,021 shares during the period. Finally, Comerica Bank increased its position in MaxLinear by 472.6% in the first quarter. Comerica Bank now owns 194,405 shares of the semiconductor company's stock worth $3,630,000 after buying an additional 160,456 shares during the last quarter. 90.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on MXL. 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 report on Thursday, July 25th. Benchmark cut their target price on shares of MaxLinear from $28.00 to $22.00 and set a "buy" rating for the company in a research report on Thursday, July 25th. Susquehanna lowered shares of MaxLinear from a "positive" rating to a "neutral" rating and lowered their price target for the company from $26.00 to $15.00 in a research report on Tuesday, October 1st. Stifel Nicolaus raised their price objective on shares of MaxLinear from $26.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, July 18th. Finally, Northland Securities reduced their price objective 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. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, MaxLinear presently has an average rating of "Hold" and an average target price of $23.44.

MaxLinear Stock Performance

Shares of MaxLinear stock remained flat at $13.42 during trading on Friday. 651,978 shares of the stock traded hands, compared to its average volume of 916,752. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.59 and a current ratio of 2.09. MaxLinear, Inc. has a 52-week low of $11.08 and a 52-week high of $26.59. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -7.10 and a beta of 1.83. The company's 50 day moving average price is $13.30 and its 200-day moving average price is $17.67.

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 for the quarter, missing the consensus estimate 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 business had revenue of $92.00 million during the quarter, compared to analysts' expectations of $100.25 million. During the same period in the previous year, the business earned $0.19 EPS. The business's revenue was down 50.0% on a year-over-year basis. As a group, equities analysts expect that MaxLinear, Inc. will post -1.6 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Kishore Seendripu acquired 108,303 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 531,937 shares in the company, valued at $6,883,264.78. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 8.60% of the company's stock.

MaxLinear Company 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.