Inspire Investing LLC Reduces Position in MaxLinear, Inc. (NYSE:MXL)

Inspire Investing LLC lessened its holdings in shares of MaxLinear, Inc. (NYSE:MXL) by 8.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 17,419 shares of the semiconductor company’s stock after selling 1,661 shares during the quarter. Inspire Investing LLC’s holdings in MaxLinear were worth $351,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of MXL. Headlands Technologies LLC purchased a new position in shares of MaxLinear during the first quarter valued at approximately $27,000. Innealta Capital LLC purchased a new position in shares of MaxLinear during the second quarter valued at approximately $30,000. International Assets Investment Management LLC purchased a new position in shares of MaxLinear during the second quarter valued at approximately $31,000. EntryPoint Capital LLC purchased a new stake in shares of MaxLinear in the first quarter valued at approximately $59,000. Finally, SG Americas Securities LLC boosted its holdings in shares of MaxLinear by 39.5% in the second quarter. SG Americas Securities LLC now owns 12,184 shares of the semiconductor company’s stock valued at $245,000 after purchasing an additional 3,453 shares during the period. Hedge funds and other institutional investors own 90.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MXL shares. Benchmark lowered their price target on MaxLinear from $28.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Northland Securities lowered their price target on MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Stifel Nicolaus boosted their price target on MaxLinear from $26.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Craig Hallum lowered their price target on MaxLinear from $38.00 to $28.00 and set a “hold” rating for the company in a report on Thursday, July 25th. Finally, Needham & Company LLC lowered MaxLinear from a “buy” rating to a “hold” rating 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $24.67.

MaxLinear Stock Performance

Shares of NYSE:MXL opened at $14.31 on Tuesday. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -7.57 and a beta of 1.84. MaxLinear, Inc. has a 52 week low of $11.08 and a 52 week high of $26.59. The company has a quick ratio of 1.59, a current ratio of 2.09 and a debt-to-equity ratio of 0.20. The firm has a 50 day moving average of $14.67 and a 200 day moving average of $17.97.

MaxLinear (NYSE:MXL) last issued its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.06). The business had revenue of $92.00 million for 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%. The business’s revenue for the quarter was down 50.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 earnings per share. On average, sell-side analysts predict that MaxLinear, Inc. will post -1.6 earnings per share for the current fiscal year.

Insider Transactions 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 acquired at an average cost of $12.94 per share, with a total value 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 approximately $6,883,264.78. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 8.60% of the company’s stock.

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.