Public Employees Retirement System of Ohio Increases Stake in MaxLinear, Inc. (NASDAQ:MXL)

Public Employees Retirement System of Ohio raised its holdings in shares of MaxLinear, Inc. (NASDAQ:MXL) by 4,298.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,979 shares of the semiconductor company’s stock after acquiring an additional 20,502 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in MaxLinear were worth $304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Orion Portfolio Solutions LLC increased its holdings in MaxLinear by 35.7% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 32,259 shares of the semiconductor company’s stock worth $467,000 after acquiring an additional 8,495 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of MaxLinear by 21.8% in the third quarter. Two Sigma Advisers LP now owns 694,149 shares of the semiconductor company’s stock worth $10,051,000 after purchasing an additional 124,300 shares during the period. State Street Corp increased its stake in shares of MaxLinear by 5.1% in the third quarter. State Street Corp now owns 4,123,419 shares of the semiconductor company’s stock worth $59,707,000 after purchasing an additional 198,791 shares in the last quarter. Systematic Financial Management LP increased its stake in shares of MaxLinear by 92.0% in the third quarter. Systematic Financial Management LP now owns 96,071 shares of the semiconductor company’s stock worth $1,391,000 after purchasing an additional 46,040 shares in the last quarter. Finally, Quadrature Capital Ltd raised its position in shares of MaxLinear by 93.9% during the 3rd quarter. Quadrature Capital Ltd now owns 22,056 shares of the semiconductor company’s stock valued at $320,000 after purchasing an additional 10,681 shares during the period. Institutional investors own 90.79% of the company’s stock.

MaxLinear Stock Down 0.6 %

Shares of MXL opened at $19.07 on Friday. 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 capitalization of $1.61 billion, a price-to-earnings ratio of -7.01 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 business’s 50 day simple moving average is $15.97 and its 200-day simple moving average is $16.15.

MaxLinear (NASDAQ:MXL) last released 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). MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. The business had revenue of $81.10 million for the quarter, compared to analysts’ expectations of $80.40 million. During the same period in the previous year, the company earned ($0.02) EPS. MaxLinear’s revenue for the quarter was down 40.2% compared to the same quarter last year. As a group, equities analysts expect that MaxLinear, Inc. will post -1.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MXL has been the subject of a number of analyst reports. Craig Hallum cut their price target on MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Benchmark increased their target price on MaxLinear from $22.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a report on Thursday, October 24th. Wells Fargo & Company initiated coverage on shares of MaxLinear in a report on Friday, November 22nd. They set an “equal weight” rating and a $14.00 price objective for the company. Finally, Susquehanna downgraded shares of MaxLinear from a “positive” rating to a “neutral” rating and lowered their target price for the stock from $26.00 to $15.00 in a report on Tuesday, October 1st. 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. Based on data from MarketBeat.com, MaxLinear currently has a consensus rating of “Hold” and an average target price of $23.14.

Insider Buying and Selling

In related 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 completion of the sale, the insider now directly owns 365,868 shares in the company, valued at $7,445,413.80. This trade represents a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ted L. Tewksbury III sold 5,800 shares of MaxLinear stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $15.36, for a total transaction of $89,088.00. Following the transaction, the director now directly owns 69,717 shares of the company’s stock, valued at $1,070,853.12. The trade was a 7.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,900 shares of company stock worth $927,278. Corporate 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.