LMR Partners LLP Purchases New Position in MaxLinear, Inc. (NASDAQ:MXL)

LMR Partners LLP acquired a new position in shares of MaxLinear, Inc. (NASDAQ:MXL) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 37,866 shares of the semiconductor company’s stock, valued at approximately $548,000.

Several other hedge funds have also modified their holdings of the company. Innealta Capital LLC bought a new stake in MaxLinear in the second quarter worth $30,000. International Assets Investment Management LLC purchased a new position in shares of MaxLinear in the 2nd quarter worth $31,000. Canada Pension Plan Investment Board bought a new stake in shares of MaxLinear in the 2nd quarter worth about $56,000. EntryPoint Capital LLC purchased a new stake in shares of MaxLinear during the 1st quarter valued at about $59,000. Finally, GAMMA Investing LLC lifted its holdings in shares of MaxLinear by 151.8% in the 3rd quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 2,093 shares during the last quarter. 90.79% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at MaxLinear

In other news, VP William Torgerson sold 6,100 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now owns 179,262 shares in the company, valued at $2,760,634.80. This trade represents a 3.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 8.60% of the company’s stock.

Wall Street Analyst Weigh In

MXL has been the topic of several analyst reports. Benchmark reissued a “buy” rating and set a $22.00 price objective on shares of MaxLinear in a research note on Thursday, October 24th. Northland Securities decreased their price target on MaxLinear from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Needham & Company LLC restated a “hold” rating on shares of MaxLinear in a research report on Thursday, October 24th. Susquehanna cut shares of MaxLinear from a “positive” rating to a “neutral” rating and cut their price objective for the company from $26.00 to $15.00 in a research report on Tuesday, October 1st. Finally, Craig Hallum lowered their target price on shares of 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 assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.86.

MaxLinear Price Performance

NASDAQ MXL opened at $14.49 on Wednesday. MaxLinear, Inc. has a 1 year low of $11.08 and a 1 year high of $26.59. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -5.33 and a beta of 1.85. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.95 and a quick ratio of 1.38. The stock’s fifty day moving average price is $14.33 and its 200 day moving average price is $16.31.

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