Everence Capital Management Inc. Makes New $205,000 Investment in MaxLinear, Inc. (NYSE:MXL)

Everence Capital Management Inc. bought a new position in MaxLinear, Inc. (NYSE:MXL) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 8,610 shares of the semiconductor company’s stock, valued at approximately $205,000.

Several other large investors have also added to or reduced their stakes in MXL. Invesco Ltd. boosted its stake in MaxLinear by 97.1% in the 3rd quarter. Invesco Ltd. now owns 3,482,949 shares of the semiconductor company’s stock worth $77,496,000 after purchasing an additional 1,716,026 shares during the period. Vanguard Group Inc. boosted its position in shares of MaxLinear by 12.6% during the 3rd quarter. Vanguard Group Inc. now owns 10,683,038 shares of the semiconductor company’s stock valued at $237,698,000 after acquiring an additional 1,199,257 shares during the last quarter. BlackRock Inc. boosted its position in shares of MaxLinear by 6.8% during the 1st quarter. BlackRock Inc. now owns 13,399,917 shares of the semiconductor company’s stock valued at $471,811,000 after acquiring an additional 858,544 shares during the last quarter. Norges Bank bought a new stake in shares of MaxLinear during the 4th quarter valued at about $24,371,000. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of MaxLinear by 423.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 657,157 shares of the semiconductor company’s stock valued at $14,622,000 after acquiring an additional 531,529 shares during the last quarter. Institutional investors own 90.79% of the company’s stock.

MaxLinear Price Performance

Shares of MaxLinear stock opened at $19.65 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.20 and a quick ratio of 1.75. The business’s 50 day simple moving average is $19.82 and its two-hundred day simple moving average is $19.98. The stock has a market capitalization of $1.61 billion, a P/E ratio of -22.08 and a beta of 1.98. MaxLinear, Inc. has a one year low of $13.43 and a one year high of $35.09.

MaxLinear (NYSE:MXL) last announced its quarterly earnings results on Wednesday, January 31st. The semiconductor company reported ($0.17) EPS for the quarter, hitting analysts’ consensus estimates of ($0.17). The business had revenue of $125.35 million for the quarter, compared to analysts’ expectations of $125.06 million. MaxLinear had a positive return on equity of 4.77% and a negative net margin of 10.55%. Analysts forecast that MaxLinear, Inc. will post -0.8 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MXL shares. Needham & Company LLC dropped their price target on MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, February 1st. Wells Fargo & Company downgraded MaxLinear from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $35.00 to $25.00 in a research report on Wednesday, January 3rd. Benchmark boosted their target price on MaxLinear from $23.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. StockNews.com upgraded MaxLinear from a “sell” rating to a “hold” rating in a research report on Thursday, February 29th. Finally, Northland Securities upgraded MaxLinear from a “market perform” rating to an “outperform” rating and set a $30.00 target price for the company in a research report on Thursday, April 4th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, MaxLinear currently has a consensus rating of “Hold” and an average price target of $26.09.

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.