MaxLinear, Inc. (NASDAQ:MXL) Shares Purchased by Verition Fund Management LLC

Verition Fund Management LLC raised its position in shares of MaxLinear, Inc. (NASDAQ:MXL) by 424.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 90,046 shares of the semiconductor company’s stock after purchasing an additional 72,877 shares during the quarter. Verition Fund Management LLC’s holdings in MaxLinear were worth $1,304,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its holdings in shares of MaxLinear by 5.3% during the second quarter. Bank of New York Mellon Corp now owns 2,535,449 shares of the semiconductor company’s stock valued at $51,064,000 after purchasing an additional 128,585 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of MaxLinear by 10.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,071,183 shares of the semiconductor company’s stock valued at $41,714,000 after purchasing an additional 192,021 shares during the last quarter. Hood River Capital Management LLC bought a new position in shares of MaxLinear during the second quarter valued at approximately $24,184,000. Vaughan Nelson Investment Management L.P. bought a new position in shares of MaxLinear during the third quarter valued at approximately $16,696,000. Finally, Millennium Management LLC grew its holdings in shares of MaxLinear by 307.9% during the second quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company’s stock valued at $21,039,000 after purchasing an additional 788,558 shares during the last quarter. 90.79% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Connie H. Kwong sold 5,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $18.61, for a total value of $93,050.00. Following the completion of the sale, the insider now owns 49,147 shares in the company, valued at $914,625.67. This represents a 9.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ted L. Tewksbury III sold 5,800 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $15.36, for a total value 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. The trade was a 7.68 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,900 shares of company stock worth $276,078. Insiders own 8.60% of the company’s stock.

MaxLinear Stock Performance

MXL opened at $19.26 on Friday. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -7.08 and a beta of 1.87. 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 1-year low of $11.08 and a 1-year high of $26.59. The business has a 50 day moving average price of $14.80 and a two-hundred day moving average price of $16.05.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported ($0.36) 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 company had revenue of $81.10 million for the quarter, compared to analyst estimates of $80.40 million. During the same quarter last year, the company posted ($0.02) EPS. MaxLinear’s revenue was down 40.2% on a year-over-year basis. Research analysts predict that MaxLinear, Inc. will post -1.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on MXL shares. Susquehanna lowered MaxLinear from a “positive” rating to a “neutral” rating and lowered their target price for the company from $26.00 to $15.00 in a report on Tuesday, October 1st. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a report on Thursday, October 24th. Benchmark reissued a “buy” rating and issued a $22.00 price objective on shares of MaxLinear in a report on Thursday, October 24th. Wells Fargo & Company started coverage on MaxLinear in a report on Friday, November 22nd. They issued an “equal weight” rating and a $14.00 price objective for the company. Finally, Craig Hallum decreased their price objective on MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $22.29.

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.