State Street Corp Buys 198,791 Shares of MaxLinear, Inc. (NASDAQ:MXL)

State Street Corp boosted its stake in shares of MaxLinear, Inc. (NASDAQ:MXL) by 5.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,123,419 shares of the semiconductor company’s stock after purchasing an additional 198,791 shares during the period. State Street Corp’s holdings in MaxLinear were worth $59,707,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Innealta Capital LLC acquired a new position in shares of MaxLinear during the 2nd quarter worth about $30,000. International Assets Investment Management LLC acquired a new position in MaxLinear during the second quarter worth approximately $31,000. Truvestments Capital LLC acquired a new position in MaxLinear during the third quarter worth approximately $42,000. GAMMA Investing LLC lifted its position in shares of MaxLinear by 151.8% in the third quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 2,093 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of MaxLinear in the second quarter valued at approximately $56,000. 90.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on MXL. Wells Fargo & Company initiated coverage on MaxLinear in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $14.00 price target on the stock. Benchmark increased their price objective on shares of MaxLinear from $22.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Craig Hallum reduced their target price on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Susquehanna cut shares of MaxLinear from a “positive” rating to a “neutral” rating and lowered their price target for the company from $26.00 to $15.00 in a report on Tuesday, October 1st. Finally, Needham & Company LLC restated a “hold” rating on shares of MaxLinear in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $23.14.

MaxLinear Stock Performance

Shares of NASDAQ:MXL opened at $19.40 on Thursday. MaxLinear, Inc. has a 12-month low of $11.08 and a 12-month high of $26.59. The company’s 50 day moving average price is $15.64 and its two-hundred day moving average price is $16.09. The firm has a market cap of $1.64 billion, a PE ratio of -7.13 and a beta of 1.87. The company has a quick ratio of 1.38, a current ratio of 1.95 and a debt-to-equity ratio of 0.22.

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 for the quarter, compared to analyst estimates of $80.40 million. MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%. The company’s quarterly revenue was down 40.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.02) EPS. Equities research analysts predict that MaxLinear, Inc. will post -1.66 earnings per share for the current year.

Insider Buying and Selling

In other MaxLinear news, insider Steven G. Litchfield sold 32,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $20.35, for a total value of $651,200.00. Following the sale, the insider now owns 365,868 shares of the company’s stock, valued at approximately $7,445,413.80. This trade represents a 8.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP William Torgerson sold 6,100 shares of MaxLinear stock in a transaction on Friday, November 8th. The shares were sold at an average price of $15.40, for a total value of $93,940.00. Following the completion of the transaction, the vice president now owns 179,262 shares in the company, valued at approximately $2,760,634.80. The trade was a 3.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,900 shares of company stock worth $927,278. Company 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.