BNP Paribas Financial Markets Decreases Stock Position in MaxLinear, Inc. (NASDAQ:MXL)

BNP Paribas Financial Markets cut its holdings in MaxLinear, Inc. (NASDAQ:MXL) by 22.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 252,544 shares of the semiconductor company’s stock after selling 72,898 shares during the period. BNP Paribas Financial Markets owned about 0.30% of MaxLinear worth $3,657,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in MXL. Innealta Capital LLC purchased a new position in MaxLinear in the 2nd quarter valued at about $30,000. International Assets Investment Management LLC purchased a new position in MaxLinear in the 2nd quarter valued at about $31,000. Truvestments Capital LLC purchased a new position in MaxLinear in the 3rd quarter valued at about $42,000. GAMMA Investing LLC lifted its holdings in MaxLinear by 151.8% in the 3rd quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 2,093 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in MaxLinear in the 2nd quarter valued at about $56,000. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP William Torgerson sold 6,100 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $15.40, for a total transaction of $93,940.00. Following the completion of the transaction, the vice president now directly owns 179,262 shares in the company, valued at approximately $2,760,634.80. This represents a 3.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ted L. Tewksbury III sold 5,800 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $15.36, for a total value of $89,088.00. Following the transaction, the director now owns 69,717 shares of the company’s stock, valued at approximately $1,070,853.12. This trade represents a 7.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wells Fargo & Company assumed coverage on shares of MaxLinear in a report on Friday, November 22nd. They issued an “equal weight” rating and a $14.00 target price on the stock. Benchmark reaffirmed a “buy” rating and set a $22.00 price objective on shares of MaxLinear in a research note on Thursday, October 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. Craig Hallum dropped their price objective on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Finally, Susquehanna downgraded 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $22.29.

MaxLinear Stock Up 11.0 %

MXL opened at $19.32 on Thursday. The company has a market cap of $1.63 billion, a PE ratio of -7.10 and a beta of 1.87. 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 price of $14.65 and a 200 day moving average price of $16.05. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.95.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share 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 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 revenue was down 40.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.02) EPS. Sell-side analysts expect that MaxLinear, Inc. will post -1.66 earnings per share for the current 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.