MaxLinear, Inc. (NASDAQ:MXL) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lowered its stake in shares of MaxLinear, Inc. (NASDAQ:MXL) by 2.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,900 shares of the semiconductor company’s stock after selling 1,100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in MaxLinear were worth $534,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BNP Paribas Financial Markets raised its holdings in MaxLinear by 58.0% in the first quarter. BNP Paribas Financial Markets now owns 265,567 shares of the semiconductor company’s stock valued at $4,958,000 after buying an additional 97,447 shares during the period. Vanguard Group Inc. raised its holdings in MaxLinear by 5.8% in the first quarter. Vanguard Group Inc. now owns 12,253,823 shares of the semiconductor company’s stock valued at $228,779,000 after buying an additional 667,550 shares during the period. Edgestream Partners L.P. raised its holdings in MaxLinear by 69.5% in the first quarter. Edgestream Partners L.P. now owns 105,355 shares of the semiconductor company’s stock valued at $1,967,000 after buying an additional 43,181 shares during the period. EntryPoint Capital LLC purchased a new position in MaxLinear in the first quarter valued at approximately $59,000. Finally, Millennium Management LLC raised 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 buying an additional 788,558 shares during the period. Institutional investors and hedge funds own 90.79% of the company’s stock.

Wall Street Analyst Weigh In

MXL has been the topic of several research reports. Northland Securities cut their price target on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Benchmark reiterated a “buy” rating and set a $22.00 price objective on shares of MaxLinear in a research note on Thursday, October 24th. Susquehanna lowered shares of MaxLinear from a “positive” rating to a “neutral” rating and dropped their price objective for the company from $26.00 to $15.00 in a research note on Tuesday, October 1st. Stifel Nicolaus lifted their price objective 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. Finally, Needham & Company LLC reiterated a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $23.86.

MaxLinear Stock Up 1.5 %

Shares of NASDAQ:MXL opened at $13.35 on Wednesday. The company has a current ratio of 1.95, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22. The company has a fifty day simple moving average of $14.10 and a 200 day simple moving average of $16.68. The firm has a market cap of $1.13 billion, a PE ratio of -4.91 and a beta of 1.85. MaxLinear, Inc. has a 12-month low of $11.08 and a 12-month high of $26.59.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). The company had revenue of $81.10 million during the quarter, compared to the consensus estimate 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 quarter last year, the firm posted ($0.02) EPS. On average, equities research analysts anticipate that MaxLinear, Inc. will post -1.66 EPS for the current fiscal year.

About MaxLinear

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.