GAMMA Investing LLC Acquires 2,093 Shares of MaxLinear, Inc. (NYSE:MXL)

GAMMA Investing LLC boosted its stake in shares of MaxLinear, Inc. (NYSE:MXL) by 151.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,472 shares of the semiconductor company’s stock after acquiring an additional 2,093 shares during the quarter. GAMMA Investing LLC’s holdings in MaxLinear were worth $50,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MXL. BNP Paribas Financial Markets grew its stake in shares of MaxLinear by 58.0% during the first quarter. BNP Paribas Financial Markets now owns 265,567 shares of the semiconductor company’s stock valued at $4,958,000 after purchasing an additional 97,447 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of MaxLinear by 8.5% in the 4th quarter. Vanguard Group Inc. now owns 11,586,273 shares of the semiconductor company’s stock valued at $275,406,000 after buying an additional 903,235 shares during the period. Edgestream Partners L.P. raised its position in shares of MaxLinear by 69.5% during the first quarter. Edgestream Partners L.P. now owns 105,355 shares of the semiconductor company’s stock worth $1,967,000 after acquiring an additional 43,181 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of MaxLinear during the first quarter valued at $59,000. Finally, Millennium Management LLC boosted its holdings in MaxLinear by 307.9% in the second 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 during the last quarter. Institutional investors and hedge funds own 90.79% of the company’s stock.

Wall Street Analysts Forecast Growth

MXL has been the subject of several recent research reports. Stifel Nicolaus boosted their price objective on MaxLinear from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Craig Hallum cut their price objective 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. Benchmark lowered their target price on shares of MaxLinear from $28.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Susquehanna downgraded MaxLinear from a “positive” rating to a “neutral” rating and cut their price target for the company from $26.00 to $15.00 in a research note on Tuesday, October 1st. Finally, Northland Securities reduced their price target on MaxLinear from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $23.44.

Insider Buying and Selling

In other news, CEO Kishore Seendripu bought 108,303 shares of the stock in a transaction on Tuesday, July 30th. The stock was purchased at an average price of $12.94 per share, for a total transaction of $1,401,440.82. Following the acquisition, the chief executive officer now owns 531,937 shares in the company, valued at approximately $6,883,264.78. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 8.60% of the stock is currently owned by company insiders.

MaxLinear Stock Performance

MXL stock opened at $13.92 on Thursday. MaxLinear, Inc. has a 1-year low of $11.08 and a 1-year high of $26.59. The business’s 50-day moving average price is $13.44 and its two-hundred day moving average price is $17.45. The firm has a market cap of $1.16 billion, a PE ratio of -7.37 and a beta of 1.83. The company has a current ratio of 2.09, a quick ratio of 1.59 and a debt-to-equity ratio of 0.20.

MaxLinear (NYSE:MXL) last issued its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.06). The business had revenue of $92.00 million during the quarter, compared to analyst estimates of $100.25 million. MaxLinear had a negative net margin of 42.38% and a negative return on equity of 12.39%. MaxLinear’s revenue for the quarter was down 50.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.19 earnings per share. As a group, research analysts forecast that MaxLinear, Inc. will post -1.74 earnings per share for the current 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.