Public Sector Pension Investment Board Buys 12,309 Shares of MaxLinear, Inc. (NYSE:MXL)

Public Sector Pension Investment Board increased its position in shares of MaxLinear, Inc. (NYSE:MXL) by 8.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 166,330 shares of the semiconductor company’s stock after buying an additional 12,309 shares during the quarter. Public Sector Pension Investment Board owned 0.20% of MaxLinear worth $3,350,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MXL. Simplicity Wealth LLC grew its holdings in shares of MaxLinear by 3.1% during the 2nd quarter. Simplicity Wealth LLC now owns 19,283 shares of the semiconductor company’s stock worth $388,000 after purchasing an additional 579 shares in the last quarter. ProShare Advisors LLC boosted its stake in MaxLinear by 7.4% during the first quarter. ProShare Advisors LLC now owns 15,304 shares of the semiconductor company’s stock worth $286,000 after buying an additional 1,061 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of MaxLinear by 3.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 38,000 shares of the semiconductor company’s stock valued at $765,000 after buying an additional 1,100 shares in the last quarter. Swiss National Bank lifted its holdings in shares of MaxLinear by 0.9% during the 1st quarter. Swiss National Bank now owns 152,973 shares of the semiconductor company’s stock worth $2,856,000 after acquiring an additional 1,300 shares during the period. Finally, Texas Permanent School Fund Corp lifted its holdings in shares of MaxLinear by 2.2% during the 1st quarter. Texas Permanent School Fund Corp now owns 65,248 shares of the semiconductor company’s stock worth $1,218,000 after acquiring an additional 1,375 shares during the period. 90.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Kishore Seendripu acquired 108,303 shares of the firm’s stock in a transaction on Tuesday, July 30th. The shares were purchased at an average cost of $12.94 per share, for a total transaction of $1,401,440.82. Following the transaction, the chief executive officer now owns 531,937 shares of the company’s stock, valued at $6,883,264.78. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 8.60% of the stock is currently owned by corporate insiders.

MaxLinear Stock Performance

Shares of NYSE:MXL opened at $15.20 on Friday. The business has a fifty day moving average of $13.91 and a 200-day moving average of $17.85. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.59 and a current ratio of 2.09. MaxLinear, Inc. has a twelve month low of $11.08 and a twelve month high of $26.59. The firm has a market cap of $1.26 billion, a PE ratio of -8.04 and a beta of 1.84.

MaxLinear (NYSE:MXL) last announced its earnings results on Wednesday, July 24th. The semiconductor company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.06). MaxLinear had a negative return on equity of 12.39% and a negative net margin of 42.38%. The company had revenue of $92.00 million during the quarter, compared to the consensus estimate of $100.25 million. During the same period in the prior year, the firm posted $0.19 earnings per share. The company’s revenue was down 50.0% on a year-over-year basis. On average, equities research analysts predict that MaxLinear, Inc. will post -1.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MXL has been the topic of a number of analyst reports. Northland Securities lowered their target price on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Benchmark dropped their target price on MaxLinear from $28.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Stifel Nicolaus raised their target price on MaxLinear from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Needham & Company LLC cut MaxLinear from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Finally, Craig Hallum cut their price objective on MaxLinear from $38.00 to $28.00 and set a “hold” rating for the company in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $24.67.

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.