CloudAlpha Capital Management Limited Hong Kong Takes $2.58 Million Position in MaxLinear, Inc. (NASDAQ:MXL)

CloudAlpha Capital Management Limited Hong Kong purchased a new stake in shares of MaxLinear, Inc. (NASDAQ:MXL) in the third quarter, HoldingsChannel reports. The institutional investor purchased 178,485 shares of the semiconductor company’s stock, valued at approximately $2,584,000. MaxLinear comprises about 0.2% of CloudAlpha Capital Management Limited Hong Kong’s investment portfolio, making the stock its 28th largest position.

A number of other large investors have also recently modified their holdings of MXL. Vanguard Group Inc. lifted its position in MaxLinear by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 12,253,823 shares of the semiconductor company’s stock worth $228,779,000 after buying an additional 667,550 shares during the last quarter. Edgestream Partners L.P. grew its stake in MaxLinear by 69.5% in the first quarter. Edgestream Partners L.P. now owns 105,355 shares of the semiconductor company’s stock worth $1,967,000 after purchasing an additional 43,181 shares during the period. EntryPoint Capital LLC bought a new stake in MaxLinear in the first quarter worth $59,000. Millennium Management LLC boosted its holdings in MaxLinear by 307.9% in the second quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company’s stock worth $21,039,000 after acquiring an additional 788,558 shares in the last quarter. Finally, Comerica Bank boosted its holdings in MaxLinear by 472.6% in the first quarter. Comerica Bank now owns 194,405 shares of the semiconductor company’s stock worth $3,630,000 after acquiring an additional 160,456 shares in the last quarter. Institutional investors own 90.79% of the company’s stock.

Analysts Set New Price Targets

MXL has been the topic of a number of research analyst reports. Benchmark reaffirmed a “buy” rating and set a $22.00 price target on shares of MaxLinear in a report on Thursday, October 24th. Craig Hallum reduced 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, October 24th. Stifel Nicolaus increased their target price on MaxLinear from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Northland Securities cut their target price on MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $23.86.

MaxLinear Price Performance

MXL opened at $14.88 on Thursday. The business has a fifty day moving average of $14.25 and a 200 day moving average of $16.49. MaxLinear, Inc. has a 52-week low of $11.08 and a 52-week high of $26.59. The company has a quick ratio of 1.38, a current ratio of 1.95 and a debt-to-equity ratio of 0.22. The stock has a market cap of $1.26 billion, a P/E ratio of -5.47 and a beta of 1.85.

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

Insider Activity at MaxLinear

In other MaxLinear news, VP William Torgerson sold 6,100 shares of the company’s stock in a transaction 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 completion of the sale, the vice president now directly owns 179,262 shares in the company, valued at approximately $2,760,634.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.60% of the stock is owned by company insiders.

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.