MaxLinear, Inc. (NYSE:MXL) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC reduced its stake in shares of MaxLinear, Inc. (NYSE:MXL) by 59.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,768 shares of the semiconductor company’s stock after selling 63,783 shares during the period. Cubist Systematic Strategies LLC owned 0.05% of MaxLinear worth $881,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in MXL. Headlands Technologies LLC acquired a new position in MaxLinear during the first quarter worth $27,000. Innealta Capital LLC purchased a new position in shares of MaxLinear during the 2nd quarter worth $30,000. International Assets Investment Management LLC acquired a new position in shares of MaxLinear during the 2nd quarter valued at about $31,000. Canada Pension Plan Investment Board purchased a new stake in shares of MaxLinear in the second quarter valued at about $56,000. Finally, EntryPoint Capital LLC acquired a new stake in MaxLinear during the first quarter worth about $59,000. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Analyst Ratings Changes

A number of equities research analysts have commented on MXL shares. Needham & Company LLC downgraded MaxLinear from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Stifel Nicolaus increased their target price on shares of MaxLinear from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Northland Securities reduced their price target 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 lowered their price objective on shares of MaxLinear from $28.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Finally, Craig Hallum dropped their target price on shares of MaxLinear from $38.00 to $28.00 and set a “hold” rating for the company in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, MaxLinear has a consensus rating of “Hold” and an average price target of $23.44.

MaxLinear Stock Up 5.6 %

MXL stock opened at $13.44 on Thursday. The company has a current ratio of 2.09, a quick ratio of 1.59 and a debt-to-equity ratio of 0.20. The company’s 50 day moving average is $13.48 and its two-hundred day moving average is $17.77. The stock has a market cap of $1.12 billion, a P/E ratio of -7.11 and a beta of 1.84. MaxLinear, Inc. has a twelve month low of $11.08 and a twelve month high of $26.59.

MaxLinear (NYSE:MXL) last issued its quarterly earnings data 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). MaxLinear had a negative return on equity of 12.39% and a negative net margin of 42.38%. The firm had revenue of $92.00 million for the quarter, compared to analysts’ expectations of $100.25 million. During the same period in the previous year, the business posted $0.19 EPS. The business’s revenue for the quarter was down 50.0% compared to the same quarter last year. Research analysts expect that MaxLinear, Inc. will post -1.6 earnings per share for the current fiscal year.

MaxLinear 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.