Point72 Asset Management L.P. Trims Stake in MaxLinear, Inc. (NASDAQ:MXL)

Point72 Asset Management L.P. lowered its position in MaxLinear, Inc. (NASDAQ:MXL) by 62.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 65,653 shares of the semiconductor company’s stock after selling 109,111 shares during the period. Point72 Asset Management L.P. owned 0.08% of MaxLinear worth $951,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Hood River Capital Management LLC bought a new position in MaxLinear in the second quarter worth $24,184,000. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of MaxLinear in the 3rd quarter worth about $16,696,000. Millennium Management LLC increased its stake in shares of MaxLinear by 307.9% in the 2nd 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. FMR LLC lifted its position in MaxLinear by 184.5% during the 3rd quarter. FMR LLC now owns 456,929 shares of the semiconductor company’s stock valued at $6,616,000 after acquiring an additional 296,339 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its stake in MaxLinear by 36.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,089,065 shares of the semiconductor company’s stock worth $15,770,000 after acquiring an additional 291,874 shares in the last quarter. Hedge funds and other institutional investors own 90.79% of the company’s stock.

MaxLinear Price Performance

MXL opened at $18.00 on Wednesday. The company’s 50-day simple moving average is $15.00 and its two-hundred day simple moving average is $16.04. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.95. The stock has a market capitalization of $1.52 billion, a P/E ratio of -6.62 and a beta of 1.87. MaxLinear, Inc. has a 52-week low of $11.08 and a 52-week high of $26.59.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share 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 the consensus estimate of $80.40 million. During the same quarter last year, the company earned ($0.02) EPS. The firm’s revenue for the quarter was down 40.2% on a year-over-year basis. As a group, analysts predict that MaxLinear, Inc. will post -1.66 EPS for the current year.

Insider Transactions at MaxLinear

In related news, VP William Torgerson sold 6,100 shares of MaxLinear stock in a transaction on Friday, November 8th. The stock was sold at an average price of $15.40, for a total transaction of $93,940.00. Following the transaction, the vice president now directly owns 179,262 shares in the company, valued at approximately $2,760,634.80. The trade was a 3.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Connie H. Kwong sold 5,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $914,625.67. The trade was a 9.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,900 shares of company stock worth $276,078 in the last ninety days. Insiders own 8.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Benchmark lifted their target price on shares of MaxLinear from $22.00 to $28.00 and gave the company a “buy” rating in a report on Monday. Susquehanna downgraded MaxLinear from a “positive” rating to a “neutral” rating and dropped their target price for the stock from $26.00 to $15.00 in a report on Tuesday, October 1st. Wells Fargo & Company assumed coverage on MaxLinear in a report on Friday, November 22nd. They set an “equal weight” rating and a $14.00 price target for the company. Craig Hallum dropped their price target on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Finally, Needham & Company LLC restated a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.14.

About MaxLinear

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.