Cubist Systematic Strategies LLC Trims Stock Position in MaxLinear, Inc. (NASDAQ:MXL)

Cubist Systematic Strategies LLC cut its stake in MaxLinear, Inc. (NASDAQ:MXL) by 16.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 110,249 shares of the semiconductor company’s stock after selling 22,100 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in MaxLinear were worth $2,181,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MXL. The Manufacturers Life Insurance Company boosted its holdings in shares of MaxLinear by 3,698.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,525,419 shares of the semiconductor company’s stock valued at $30,173,000 after buying an additional 1,485,256 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in MaxLinear during the fourth quarter worth about $25,027,000. Assenagon Asset Management S.A. boosted its stake in MaxLinear by 339.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,250,769 shares of the semiconductor company’s stock worth $24,740,000 after acquiring an additional 966,468 shares in the last quarter. Victory Capital Management Inc. boosted its stake in MaxLinear by 422.1% during the fourth quarter. Victory Capital Management Inc. now owns 815,931 shares of the semiconductor company’s stock worth $16,139,000 after acquiring an additional 659,662 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in MaxLinear by 44.6% during the third quarter. JPMorgan Chase & Co. now owns 935,739 shares of the semiconductor company’s stock worth $13,550,000 after acquiring an additional 288,607 shares in the last quarter. 90.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at MaxLinear

In related news, Director Ted L. Tewksbury III sold 6,071 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $10.40, for a total transaction of $63,138.40. Following the completion of the transaction, the director now directly owns 74,995 shares in the company, valued at approximately $779,948. The trade was a 7.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 7.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on MaxLinear from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a research report on Thursday, January 30th. Roth Capital set a $11.00 price target on shares of MaxLinear and gave the stock a “neutral” rating in a research note on Thursday, April 24th. Stifel Nicolaus reduced their price objective on shares of MaxLinear from $26.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Finally, Susquehanna dropped their target price on shares of MaxLinear from $25.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, MaxLinear has an average rating of “Hold” and a consensus target price of $19.06.

MaxLinear Stock Up 1.1%

MXL stock opened at $11.34 on Monday. The company has a market cap of $959.75 million, a price-to-earnings ratio of -3.87 and a beta of 1.66. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.28 and a current ratio of 1.77. The business’s 50-day moving average is $11.17 and its two-hundred day moving average is $15.50. MaxLinear, Inc. has a fifty-two week low of $8.35 and a fifty-two week high of $26.59.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The firm had revenue of $95.93 million during the quarter, compared to analyst estimates of $95.32 million. MaxLinear had a negative net margin of 68.01% and a negative return on equity of 21.94%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.21) EPS. As a group, analysts forecast that MaxLinear, Inc. will post -0.37 earnings per share for the current year.

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.