MaxLinear, Inc. (NYSE:MXL) Shares Sold by Rathbones Group PLC

Rathbones Group PLC lowered its holdings in MaxLinear, Inc. (NYSE:MXL) by 12.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 21,050 shares of the semiconductor company’s stock after selling 3,100 shares during the quarter. Rathbones Group PLC’s holdings in MaxLinear were worth $424,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Simplicity Wealth LLC boosted its position in MaxLinear by 3.1% during the 2nd quarter. Simplicity Wealth LLC now owns 19,283 shares of the semiconductor company’s stock worth $388,000 after purchasing an additional 579 shares during the period. ProShare Advisors LLC boosted its position in shares of MaxLinear by 7.4% in the first quarter. ProShare Advisors LLC now owns 15,304 shares of the semiconductor company’s stock worth $286,000 after buying an additional 1,061 shares during the period. Louisiana State Employees Retirement System boosted its position in shares of MaxLinear by 3.0% in the second quarter. Louisiana State Employees Retirement System now owns 38,000 shares of the semiconductor company’s stock worth $765,000 after buying an additional 1,100 shares during the period. Swiss National Bank grew its stake in shares of MaxLinear by 0.9% in the first quarter. Swiss National Bank now owns 152,973 shares of the semiconductor company’s stock valued at $2,856,000 after buying an additional 1,300 shares in the last quarter. Finally, Texas Permanent School Fund Corp raised its holdings in shares of MaxLinear by 2.2% during the 1st quarter. Texas Permanent School Fund Corp now owns 65,248 shares of the semiconductor company’s stock valued at $1,218,000 after buying an additional 1,375 shares during the period. Hedge funds and other institutional investors own 90.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MXL shares. Needham & Company LLC cut MaxLinear from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Susquehanna lowered their price target on shares of MaxLinear from $30.00 to $26.00 and set a “positive” rating for the company in a report on Thursday, July 25th. Stifel Nicolaus boosted 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. Craig Hallum decreased their price objective on shares of MaxLinear from $38.00 to $28.00 and set a “hold” rating for the company in a research report on Thursday, July 25th. Finally, Benchmark dropped their target price on MaxLinear from $28.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $24.67.

Insider Buying and Selling at MaxLinear

In other MaxLinear news, CEO Kishore Seendripu purchased 108,303 shares of MaxLinear stock in a transaction dated Tuesday, July 30th. The shares were bought at an average cost 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 approximately $6,883,264.78. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 8.60% of the stock is owned by insiders.

MaxLinear Stock Down 2.3 %

NYSE:MXL opened at $14.22 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.59 and a current ratio of 2.09. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -7.52 and a beta of 1.84. MaxLinear, Inc. has a one year low of $11.08 and a one year high of $26.59. The stock has a 50-day simple moving average of $15.37 and a 200 day simple moving average of $18.14.

MaxLinear (NYSE:MXL) last issued its earnings results on Wednesday, July 24th. The semiconductor company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.06). The firm had revenue of $92.00 million during the quarter, compared to analyst estimates of $100.25 million. MaxLinear had a negative return on equity of 12.39% and a negative net margin of 42.38%. MaxLinear’s revenue was down 50.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.19 EPS. Sell-side analysts predict that MaxLinear, Inc. will post -1.6 EPS for the current fiscal year.

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.