Algert Global LLC Has $1.65 Million Stock Position in MaxLinear, Inc. (NASDAQ:MXL)

Algert Global LLC lowered its holdings in shares of MaxLinear, Inc. (NASDAQ:MXL) by 39.3% in the third quarter, HoldingsChannel reports. The firm owned 113,994 shares of the semiconductor company’s stock after selling 73,706 shares during the period. Algert Global LLC’s holdings in MaxLinear were worth $1,651,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Innealta Capital LLC bought a new stake in shares of MaxLinear during the 2nd quarter worth about $30,000. International Assets Investment Management LLC acquired a new position in MaxLinear in the 2nd quarter valued at $31,000. GAMMA Investing LLC increased its position in MaxLinear by 151.8% during the 3rd quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock worth $50,000 after buying an additional 2,093 shares during the period. Canada Pension Plan Investment Board acquired a new stake in MaxLinear in the 2nd quarter worth about $56,000. Finally, CWM LLC grew its position in shares of MaxLinear by 321.3% during the 3rd quarter. CWM LLC now owns 5,793 shares of the semiconductor company’s stock worth $84,000 after purchasing an additional 4,418 shares in the last quarter. Institutional investors own 90.79% of the company’s stock.

Wall Street Analyst Weigh In

MXL has been the subject of a number of analyst reports. Wells Fargo & Company began coverage on shares of MaxLinear in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $14.00 price target for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. Craig Hallum reduced their price objective on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Benchmark reissued a “buy” rating and issued a $22.00 price objective on shares of MaxLinear in a research note on Thursday, October 24th. Finally, Susquehanna downgraded MaxLinear from a “positive” rating to a “neutral” rating and reduced their target price for the company from $26.00 to $15.00 in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, MaxLinear currently has an average rating of “Hold” and a consensus price target of $22.29.

MaxLinear Trading Down 2.6 %

MXL opened at $14.55 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 fifty-two week low of $11.08 and a fifty-two week high of $26.59. The company’s 50 day moving average price is $14.44 and its two-hundred day moving average price is $16.16. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -5.49 and a beta of 1.85.

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

Insiders Place Their Bets

In related news, Director Ted L. Tewksbury III sold 5,800 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 69,717 shares of the company’s stock, valued at $1,070,853.12. This trade represents a 7.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP William Torgerson sold 6,100 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $15.40, for a total value of $93,940.00. Following the transaction, the vice president now owns 179,262 shares in the company, valued at $2,760,634.80. The trade was a 3.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.60% of the company’s stock.

About MaxLinear

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.