414,767 Shares in MaxLinear, Inc $MXL Acquired by Squarepoint Ops LLC

Squarepoint Ops LLC acquired a new position in MaxLinear, Inc (NASDAQ:MXL) during the second quarter, HoldingsChannel reports. The fund acquired 414,767 shares of the semiconductor company’s stock, valued at approximately $5,894,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MXL. Charles Schwab Investment Management Inc. lifted its position in MaxLinear by 4.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,066,306 shares of the semiconductor company’s stock worth $11,580,000 after buying an additional 48,995 shares in the last quarter. Deutsche Bank AG raised its stake in shares of MaxLinear by 5.8% in the first quarter. Deutsche Bank AG now owns 473,312 shares of the semiconductor company’s stock worth $5,140,000 after acquiring an additional 25,739 shares during the last quarter. Invesco Ltd. lifted its position in shares of MaxLinear by 414.8% during the first quarter. Invesco Ltd. now owns 1,684,247 shares of the semiconductor company’s stock worth $18,291,000 after purchasing an additional 1,357,093 shares in the last quarter. Nuveen LLC bought a new stake in shares of MaxLinear during the first quarter valued at approximately $4,547,000. Finally, Public Sector Pension Investment Board increased its holdings in shares of MaxLinear by 27.7% in the first quarter. Public Sector Pension Investment Board now owns 244,236 shares of the semiconductor company’s stock valued at $2,652,000 after purchasing an additional 52,920 shares in the last quarter. 90.79% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other MaxLinear news, Director Daniel A. Artusi sold 20,747 shares of MaxLinear stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $15.39, for a total value of $319,296.33. Following the sale, the director directly owned 12,141 shares in the company, valued at approximately $186,849.99. The trade was a 63.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on MXL shares. Williams Trading set a $25.00 price objective on MaxLinear in a research report on Friday, October 24th. Stifel Nicolaus set a $23.00 target price on MaxLinear in a research note on Friday, October 24th. Zacks Research cut MaxLinear from a “strong-buy” rating to a “hold” rating in a report on Monday, September 22nd. Benchmark reaffirmed a “buy” rating and issued a $25.00 price target on shares of MaxLinear in a research note on Friday, October 24th. Finally, Wall Street Zen raised shares of MaxLinear from a “hold” rating to a “buy” rating in a research note on Saturday, September 20th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $19.94.

MaxLinear Stock Down 6.2%

MaxLinear stock opened at $17.41 on Monday. The company has a quick ratio of 1.08, a current ratio of 1.55 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $1.52 billion, a PE ratio of -8.33 and a beta of 1.82. MaxLinear, Inc has a twelve month low of $8.35 and a twelve month high of $25.73. The company has a 50 day moving average of $15.97 and a 200-day moving average of $15.32.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings results on Thursday, October 23rd. The semiconductor company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. MaxLinear had a negative return on equity of 12.74% and a negative net margin of 42.43%.The firm had revenue of $126.46 million during the quarter, compared to the consensus estimate of $124.66 million. During the same quarter in the prior year, the firm posted ($0.36) EPS. The business’s revenue was up 56.0% on a year-over-year basis. On average, equities research analysts anticipate that MaxLinear, Inc will post -0.37 EPS for the current fiscal year.

MaxLinear declared that its Board of Directors has authorized a stock buyback plan on Monday, November 24th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the semiconductor company to buy up to 5.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.