Verition Fund Management LLC Buys 72,877 Shares of MaxLinear, Inc. (NASDAQ:MXL)

Verition Fund Management LLC boosted its stake in shares of MaxLinear, Inc. (NASDAQ:MXL - Free Report) by 424.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 90,046 shares of the semiconductor company's stock after purchasing an additional 72,877 shares during the quarter. Verition Fund Management LLC owned approximately 0.11% of MaxLinear worth $1,304,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP increased its stake in shares of MaxLinear by 111.7% in the third quarter. Quantbot Technologies LP now owns 66,363 shares of the semiconductor company's stock valued at $961,000 after purchasing an additional 35,018 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in MaxLinear in the 3rd quarter worth approximately $16,696,000. Mirabella Financial Services LLP acquired a new stake in MaxLinear in the 3rd quarter valued at approximately $551,000. Millennium Management LLC raised its stake in MaxLinear by 307.9% during the 2nd quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company's stock valued at $21,039,000 after acquiring an additional 788,558 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in MaxLinear during the 3rd quarter valued at $833,000. 90.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Susquehanna cut shares of MaxLinear from a "positive" rating to a "neutral" rating and cut their price objective for the company from $26.00 to $15.00 in a research note on Tuesday, October 1st. Benchmark restated a "buy" rating and set a $22.00 price objective on shares of MaxLinear 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 issued an "equal weight" rating and a $14.00 target price on the stock. Craig Hallum reduced their target price on shares of MaxLinear from $28.00 to $25.00 and set a "buy" rating for the company in a report on Thursday, October 24th. Finally, Needham & Company LLC restated a "hold" rating on shares of MaxLinear in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $22.29.

MaxLinear Trading Up 3.2 %

Shares of MXL stock traded up $0.60 during trading hours on Friday, reaching $19.26. 1,566,030 shares of the stock traded hands, compared to its average volume of 1,209,389. MaxLinear, Inc. has a 1-year low of $11.08 and a 1-year high of $26.59. 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 business has a fifty day moving average price of $14.80 and a 200 day moving average price of $16.05. The firm has a market capitalization of $1.62 billion, a PE ratio of -7.08 and a beta of 1.87.

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

Insiders Place Their Bets

In other news, Director Ted L. Tewksbury III sold 5,800 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $15.36, for a total transaction of $89,088.00. Following the sale, the director now owns 69,717 shares in the company, valued at approximately $1,070,853.12. This represents a 7.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP William Torgerson sold 6,100 shares of MaxLinear stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $15.40, for a total value of $93,940.00. Following the completion of the transaction, the vice president now directly owns 179,262 shares of the company's stock, valued at $2,760,634.80. This represents a 3.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,900 shares of company stock worth $276,078 over the last three months. 8.60% of the stock is currently owned by corporate insiders.

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.