Assenagon Asset Management S.A. Acquires 5,705 Shares of MaxLinear, Inc. (NASDAQ:MXL)

Assenagon Asset Management S.A. lifted its holdings in shares of MaxLinear, Inc. (NASDAQ:MXL) by 2.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 284,301 shares of the semiconductor company’s stock after purchasing an additional 5,705 shares during the period. Assenagon Asset Management S.A. owned about 0.34% of MaxLinear worth $4,117,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in MXL. Hood River Capital Management LLC bought a new stake in MaxLinear in the 2nd quarter worth $24,184,000. Millennium Management LLC grew its holdings in MaxLinear by 307.9% in the 2nd quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company’s stock worth $21,039,000 after acquiring an additional 788,558 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of MaxLinear by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 12,253,823 shares of the semiconductor company’s stock worth $228,779,000 after purchasing an additional 667,550 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of MaxLinear by 10.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,071,183 shares of the semiconductor company’s stock worth $41,714,000 after purchasing an additional 192,021 shares during the period. Finally, Comerica Bank lifted its position in shares of MaxLinear by 472.6% in the 1st quarter. Comerica Bank now owns 194,405 shares of the semiconductor company’s stock worth $3,630,000 after purchasing an additional 160,456 shares during the period. Institutional investors own 90.79% of the company’s stock.

MaxLinear Trading Down 3.7 %

Shares of NASDAQ MXL opened at $15.06 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.95 and a quick ratio of 1.38. The stock has a market cap of $1.26 billion, a P/E ratio of -5.54 and a beta of 1.83. MaxLinear, Inc. has a 1 year low of $11.08 and a 1 year high of $26.59. The firm has a 50-day moving average of $13.93 and a 200 day moving average of $16.99.

MaxLinear (NASDAQ:MXL) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.04). The firm had revenue of $81.10 million during the quarter, compared to analysts’ expectations of $80.40 million. MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%. The firm’s quarterly revenue was down 40.2% on a year-over-year basis. During the same period last year, the firm posted ($0.02) earnings per share. As a group, sell-side analysts expect that MaxLinear, Inc. will post -1.72 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MXL shares. Stifel Nicolaus raised their target price on shares of MaxLinear from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Northland Securities dropped their target price on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Craig Hallum dropped their target price on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Susquehanna cut shares of MaxLinear from a “positive” rating to a “neutral” rating and dropped their target price for the stock from $26.00 to $15.00 in a research report on Tuesday, October 1st. Finally, Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $23.86.

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.