Royce & Associates LP Decreases Stock Holdings in MaxLinear, Inc. (NASDAQ:MXL)

Royce & Associates LP cut its holdings in shares of MaxLinear, Inc. (NASDAQ:MXL - Free Report) by 85.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,037 shares of the semiconductor company's stock after selling 103,697 shares during the period. Royce & Associates LP's holdings in MaxLinear were worth $247,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of MaxLinear by 5.8% during the first quarter. Vanguard Group Inc. now owns 12,253,823 shares of the semiconductor company's stock valued at $228,779,000 after purchasing an additional 667,550 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of MaxLinear in the 1st quarter worth about $59,000. Millennium Management LLC increased its stake in shares of MaxLinear by 307.9% in the 2nd quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company's stock worth $21,039,000 after acquiring an additional 788,558 shares in the last quarter. GSA Capital Partners LLP purchased a new position in MaxLinear during the 3rd quarter valued at about $833,000. Finally, Comerica Bank boosted its stake in MaxLinear by 472.6% during the first quarter. Comerica Bank now owns 194,405 shares of the semiconductor company's stock worth $3,630,000 after acquiring an additional 160,456 shares in the last quarter. 90.79% of the stock is owned by hedge funds and other institutional investors.

MaxLinear Stock Up 1.4 %

MaxLinear stock opened at $14.69 on Thursday. MaxLinear, Inc. has a 12-month low of $11.08 and a 12-month high of $26.59. The firm has a 50 day moving average of $14.34 and a 200 day moving average of $16.30. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.95 and a quick ratio of 1.38.

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

Insider Transactions at MaxLinear

In other news, VP William Torgerson sold 6,100 shares of MaxLinear stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $15.40, for a total value of $93,940.00. Following the sale, the vice president now directly 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 sale 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.

Wall Street Analysts Forecast Growth

MXL has been the subject of a number of analyst reports. Craig Hallum reduced their price objective on MaxLinear from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Thursday, October 24th. Northland Securities reduced their target price on MaxLinear from $30.00 to $25.00 and set an "outperform" rating for the company in a report on Thursday, July 25th. Benchmark reissued a "buy" rating and set a $22.00 price objective on shares of MaxLinear in a report on Thursday, October 24th. Susquehanna cut 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 report on Tuesday, October 1st. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of MaxLinear in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $23.86.

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.