Royce & Associates LP Cuts Stock Holdings in MaxLinear, Inc. (NASDAQ:MXL)

Royce & Associates LP reduced its position in MaxLinear, Inc. (NASDAQ:MXL) by 85.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,037 shares of the semiconductor company’s stock after selling 103,697 shares during the period. Royce & Associates LP’s holdings in MaxLinear were worth $247,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MXL. Innealta Capital LLC bought a new position in shares of MaxLinear during the 2nd quarter valued at $30,000. International Assets Investment Management LLC bought a new position in MaxLinear in the second quarter valued at about $31,000. Canada Pension Plan Investment Board purchased a new position in MaxLinear in the second quarter worth about $56,000. EntryPoint Capital LLC bought a new stake in shares of MaxLinear during the 1st quarter valued at about $59,000. Finally, GAMMA Investing LLC increased its position in shares of MaxLinear by 151.8% during the 3rd quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 2,093 shares during the last quarter. 90.79% of the stock is owned by institutional investors.

MaxLinear Trading Up 1.4 %

MXL stock opened at $14.69 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.95 and a quick ratio of 1.38. MaxLinear, Inc. has a 1-year low of $11.08 and a 1-year high of $26.59. The business has a 50 day simple moving average of $14.34 and a two-hundred day simple moving average of $16.30. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -5.40 and a beta of 1.85.

MaxLinear (NASDAQ:MXL) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%. The company had revenue of $81.10 million for the quarter, compared to the consensus estimate of $80.40 million. During the same quarter in the prior year, the company posted ($0.02) EPS. MaxLinear’s revenue was down 40.2% compared to the same quarter last year. Research analysts anticipate that MaxLinear, Inc. will post -1.66 EPS for the current fiscal year.

Insider Buying and Selling at MaxLinear

In other MaxLinear news, 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 directly owns 179,262 shares of the company’s stock, valued at $2,760,634.80. This trade represents a 3.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 8.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

MXL has been the subject of several recent research reports. Northland Securities cut their target price on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Benchmark reissued a “buy” rating and set a $22.00 price objective on shares of MaxLinear in a research report on Thursday, October 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a report on Thursday, October 24th. Craig Hallum cut their price target on MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Finally, Susquehanna downgraded MaxLinear from a “positive” rating to a “neutral” rating and decreased their price objective for the stock from $26.00 to $15.00 in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $23.86.

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.