Point72 Asia Singapore Pte. Ltd. Purchases 124,430 Shares of MaxLinear, Inc. (NASDAQ:MXL)

Point72 Asia Singapore Pte. Ltd. boosted its position in shares of MaxLinear, Inc. (NASDAQ:MXL) by 5,114.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 126,863 shares of the semiconductor company’s stock after purchasing an additional 124,430 shares during the period. Point72 Asia Singapore Pte. Ltd. owned about 0.15% of MaxLinear worth $1,837,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in shares of MaxLinear by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 2,535,449 shares of the semiconductor company’s stock worth $51,064,000 after acquiring an additional 128,585 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of MaxLinear by 10.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,071,183 shares of the semiconductor company’s stock worth $41,714,000 after acquiring an additional 192,021 shares during the last quarter. Hood River Capital Management LLC bought a new position in shares of MaxLinear in the second quarter worth about $24,184,000. Vaughan Nelson Investment Management L.P. bought a new position in shares of MaxLinear in the third quarter worth about $16,696,000. Finally, Millennium Management LLC raised its stake in shares of MaxLinear by 307.9% in the second 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 during the last quarter. 90.79% of the stock is owned by institutional investors.

MaxLinear Stock Up 4.0 %

Shares of NASDAQ MXL opened at $15.13 on Monday. The stock has a market cap of $1.28 billion, a P/E ratio of -5.56 and a beta of 1.85. MaxLinear, Inc. has a 52-week low of $11.08 and a 52-week high of $26.59. 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 firm has a 50 day moving average price of $14.47 and a 200 day moving average price of $16.06.

MaxLinear (NASDAQ:MXL) last released 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). The company had revenue of $81.10 million during the quarter, compared to analyst estimates of $80.40 million. MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. The firm’s quarterly revenue was down 40.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.02) EPS. Analysts expect that MaxLinear, Inc. will post -1.66 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on MXL. Craig Hallum dropped their target price on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Benchmark reissued a “buy” rating and set a $22.00 price target on shares of MaxLinear in a research note on Thursday, October 24th. Wells Fargo & Company assumed coverage on shares of MaxLinear in a research note on Friday, November 22nd. They set an “equal weight” rating and a $14.00 price target for the company. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. Finally, Susquehanna downgraded shares of MaxLinear from a “positive” rating to a “neutral” rating and dropped their price target for the stock from $26.00 to $15.00 in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $22.29.

Insider Activity

In other news, VP William Torgerson sold 6,100 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $15.40, for a total value of $93,940.00. Following the sale, the vice president now owns 179,262 shares of the company’s stock, valued at $2,760,634.80. The trade was a 3.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ted L. Tewksbury III sold 5,800 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $15.36, for a total transaction of $89,088.00. Following the completion of the sale, the director now directly owns 69,717 shares in the company, valued at approximately $1,070,853.12. This represents a 7.68 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.60% of the company’s stock.

MaxLinear 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.