Point72 Asset Management L.P. Sells 109,111 Shares of MaxLinear, Inc. (NASDAQ:MXL)

Point72 Asset Management L.P. decreased its stake in MaxLinear, Inc. (NASDAQ:MXL - Free Report) by 62.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 65,653 shares of the semiconductor company's stock after selling 109,111 shares during the quarter. Point72 Asset Management L.P. owned 0.08% of MaxLinear worth $951,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of MXL. SG Americas Securities LLC grew its holdings in shares of 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 acquiring an additional 3,453 shares in the last quarter. Louisiana State Employees Retirement System increased its position 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 worth $765,000 after purchasing an additional 1,100 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of 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 buying an additional 128,585 shares during the last quarter. Panagora Asset Management Inc. grew its stake in shares of MaxLinear by 229.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 210,700 shares of the semiconductor company's stock valued at $4,243,000 after buying an additional 146,754 shares in the last quarter. Finally, Innealta Capital LLC acquired a new position in MaxLinear in the second quarter worth approximately $30,000. Hedge funds and other institutional investors own 90.79% of the company's stock.

Insider Activity

In other MaxLinear news, Director Ted L. Tewksbury III sold 5,800 shares of the business's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $15.36, for a total value of $89,088.00. Following the completion of the sale, the director now owns 69,717 shares of the company's stock, valued at $1,070,853.12. The trade was a 7.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Connie H. Kwong sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $18.61, for a total value of $93,050.00. Following the completion of the sale, the insider now owns 49,147 shares of the company's stock, valued at approximately $914,625.67. This trade represents a 9.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,900 shares of company stock valued at $276,078 over the last ninety days. 8.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MXL shares. Benchmark increased their price objective on MaxLinear from $22.00 to $28.00 and gave the company a "buy" rating in a report on Monday. Craig Hallum dropped their price target on shares of MaxLinear from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Thursday, October 24th. Wells Fargo & Company assumed coverage on shares of MaxLinear in a report on Friday, November 22nd. They set an "equal weight" rating and a $14.00 price objective for the company. Susquehanna downgraded shares of MaxLinear from a "positive" rating to a "neutral" rating and dropped their target price for the stock from $26.00 to $15.00 in a report on Tuesday, October 1st. Finally, Needham & Company LLC reiterated a "hold" rating on shares of MaxLinear in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $23.14.

MaxLinear Trading Up 5.9 %

MaxLinear stock traded up $1.07 during midday trading on Wednesday, hitting $19.07. 595,604 shares of the stock were exchanged, compared to its average volume of 1,029,720. The company has a fifty day simple moving average of $15.00 and a two-hundred day simple moving average of $16.04. The company has a quick ratio of 1.38, a current ratio of 1.95 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $1.61 billion, a PE ratio of -6.62 and a beta of 1.87. MaxLinear, Inc. has a 52 week low of $11.08 and a 52 week high of $26.59.

MaxLinear (NASDAQ:MXL - Get Free Report) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.04). The business had revenue of $81.10 million during the quarter, compared to the consensus estimate of $80.40 million. MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. The firm's revenue for the quarter was down 40.2% on a year-over-year basis. During the same period last year, the business posted ($0.02) EPS. Equities research analysts anticipate that MaxLinear, Inc. will post -1.66 EPS for the current fiscal year.

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.