Algert Global LLC Has $3.78 Million Position in MaxLinear, Inc. (NYSE:MXL)

Algert Global LLC cut its holdings in MaxLinear, Inc. (NYSE:MXL) by 35.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 187,700 shares of the semiconductor company’s stock after selling 103,832 shares during the quarter. Algert Global LLC owned approximately 0.23% of MaxLinear worth $3,780,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BNP Paribas Financial Markets increased its stake in shares of 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 in the last quarter. Vanguard Group Inc. increased its stake in shares of MaxLinear by 8.5% in the fourth quarter. Vanguard Group Inc. now owns 11,586,273 shares of the semiconductor company’s stock valued at $275,406,000 after buying an additional 903,235 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of MaxLinear by 291.5% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 120,873 shares of the semiconductor company’s stock valued at $2,873,000 after buying an additional 90,000 shares in the last quarter. Edgestream Partners L.P. increased its stake in shares of 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 in the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of MaxLinear in the first quarter valued at $59,000. 90.79% of the stock is currently owned by institutional investors and hedge funds.

MaxLinear Price Performance

MaxLinear stock opened at $14.48 on Tuesday. The firm has a market capitalization of $1.20 billion, a P/E ratio of -7.66 and a beta of 1.84. MaxLinear, Inc. has a 1 year low of $11.08 and a 1 year high of $26.59. The business has a 50-day moving average of $13.91 and a 200-day moving average of $17.83. The company has a current ratio of 2.09, a quick ratio of 1.59 and a debt-to-equity ratio of 0.20.

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

Insider Activity at MaxLinear

In other MaxLinear news, CEO Kishore Seendripu acquired 108,303 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The stock was acquired 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MXL. Benchmark dropped their price objective on MaxLinear from $28.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Craig Hallum dropped 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. Stifel Nicolaus boosted their price objective on MaxLinear from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Susquehanna dropped their price objective on MaxLinear from $30.00 to $26.00 and set a “positive” rating for the company in a report on Thursday, July 25th. Finally, Northland Securities dropped their price objective on MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently 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.