Edgestream Partners L.P. Acquires 20,187 Shares of MaxLinear, Inc. (NYSE:MXL)

Edgestream Partners L.P. grew its holdings in shares of MaxLinear, Inc. (NYSE:MXL) by 19.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 125,542 shares of the semiconductor company’s stock after buying an additional 20,187 shares during the period. Edgestream Partners L.P. owned approximately 0.15% of MaxLinear worth $2,528,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. BNP Paribas Financial Markets boosted its stake in MaxLinear by 58.0% during the first quarter. BNP Paribas Financial Markets now owns 265,567 shares of the semiconductor company’s stock worth $4,958,000 after acquiring an additional 97,447 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of MaxLinear by 8.5% during the 4th quarter. Vanguard Group Inc. now owns 11,586,273 shares of the semiconductor company’s stock worth $275,406,000 after purchasing an additional 903,235 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of MaxLinear by 291.5% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 120,873 shares of the semiconductor company’s stock valued at $2,873,000 after buying an additional 90,000 shares during the period. EntryPoint Capital LLC bought a new stake in MaxLinear in the 1st quarter valued at about $59,000. Finally, Comerica Bank raised its stake in MaxLinear by 472.6% during the 1st quarter. Comerica Bank now owns 194,405 shares of the semiconductor company’s stock worth $3,630,000 after buying an additional 160,456 shares during the period. Institutional investors and hedge funds own 90.79% of the company’s stock.

MaxLinear Trading Down 0.9 %

NYSE:MXL opened at $14.09 on Thursday. MaxLinear, Inc. has a 52 week low of $11.08 and a 52 week high of $26.59. The firm has a 50-day moving average price of $15.20 and a two-hundred day moving average price of $18.11. 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 firm has a market cap of $1.17 billion, a price-to-earnings ratio of -7.46 and a beta of 1.84.

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

Insider Activity

In related news, CEO Kishore Seendripu purchased 108,303 shares of MaxLinear stock in a transaction that occurred on Tuesday, July 30th. The stock was bought at an average price of $12.94 per share, for a total transaction of $1,401,440.82. Following the completion of the transaction, the chief executive officer now owns 531,937 shares in the company, valued at $6,883,264.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 8.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on MXL. Benchmark reduced their price objective on MaxLinear from $28.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Stifel Nicolaus boosted their price target on shares of MaxLinear from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Northland Securities dropped their price objective on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Needham & Company LLC cut shares of MaxLinear from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Finally, Craig Hallum lowered their target price on shares of MaxLinear from $38.00 to $28.00 and set a “hold” rating on the stock in a 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 issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $24.67.

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.