Primecap Management Co. CA Reduces Stock Holdings in MaxLinear, Inc. (NASDAQ:MXL)

Primecap Management Co. CA cut its holdings in shares of MaxLinear, Inc. (NASDAQ:MXL - Free Report) by 9.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,071,170 shares of the semiconductor company's stock after selling 214,790 shares during the quarter. Primecap Management Co. CA owned approximately 2.46% of MaxLinear worth $29,991,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of MaxLinear by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 12,253,823 shares of the semiconductor company's stock valued at $228,779,000 after buying an additional 667,550 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of MaxLinear during the third quarter worth $16,696,000. EntryPoint Capital LLC bought a new position in shares of MaxLinear in the first quarter worth $59,000. Millennium Management LLC grew its position in shares of 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 in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in shares of MaxLinear during the 3rd quarter valued at $833,000. Institutional investors own 90.79% of the company's stock.

MaxLinear Trading Down 1.3 %

Shares of MaxLinear stock traded down $0.20 during trading on Friday, reaching $15.54. The company's stock had a trading volume of 972,352 shares, compared to its average volume of 998,279. The company has a quick ratio of 1.38, a current ratio of 1.95 and a debt-to-equity ratio of 0.22. MaxLinear, Inc. has a 52-week low of $11.08 and a 52-week high of $26.59. The firm's 50-day moving average is $14.37 and its two-hundred day moving average is $16.29. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -5.67 and a beta of 1.85.

MaxLinear (NASDAQ:MXL - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.04). The company 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 business's revenue for the quarter was down 40.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.02) EPS. On average, sell-side analysts anticipate that MaxLinear, Inc. will post -1.66 earnings per share for the current year.

Analyst Ratings Changes

MXL has been the subject of several analyst reports. Susquehanna downgraded MaxLinear from a "positive" rating to a "neutral" rating and cut their target price for the stock from $26.00 to $15.00 in a research note on Tuesday, October 1st. Craig Hallum decreased their target price on shares of MaxLinear from $28.00 to $25.00 and set a "buy" rating on the stock in a report on Thursday, October 24th. Northland Securities cut their price target on shares of MaxLinear from $30.00 to $25.00 and set an "outperform" rating for the company in a report on Thursday, July 25th. Wells Fargo & Company assumed coverage on shares of MaxLinear in a report on Friday. They issued an "equal weight" rating and a $14.00 price target on the stock. Finally, Needham & Company LLC restated a "hold" rating on shares of MaxLinear in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $22.29.

Insider Transactions at MaxLinear

In other news, VP William Torgerson sold 6,100 shares of the business's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $15.40, for a total value of $93,940.00. Following the transaction, the vice president now owns 179,262 shares of the company's stock, valued at approximately $2,760,634.80. The trade was a 3.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.60% of the stock is owned by insiders.

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.