First Trust Advisors LP Buys Shares of 14,177 MaxLinear, Inc. (NASDAQ:MXL)

First Trust Advisors LP acquired a new position in shares of MaxLinear, Inc. (NASDAQ:MXL) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 14,177 shares of the semiconductor company’s stock, valued at approximately $280,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MXL. Assenagon Asset Management S.A. boosted its stake in shares of MaxLinear by 339.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,250,769 shares of the semiconductor company’s stock valued at $24,740,000 after purchasing an additional 966,468 shares during the period. Victory Capital Management Inc. boosted its stake in MaxLinear by 422.1% during the 4th quarter. Victory Capital Management Inc. now owns 815,931 shares of the semiconductor company’s stock valued at $16,139,000 after acquiring an additional 659,662 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in MaxLinear by 44.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 935,739 shares of the semiconductor company’s stock worth $13,550,000 after acquiring an additional 288,607 shares in the last quarter. Barclays PLC increased its position in shares of MaxLinear by 66.9% in the 4th quarter. Barclays PLC now owns 560,313 shares of the semiconductor company’s stock worth $11,083,000 after purchasing an additional 224,509 shares during the last quarter. Finally, Wellington Management Group LLP bought a new position in shares of MaxLinear during the fourth quarter worth about $3,709,000. Institutional investors and hedge funds own 90.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Wells Fargo & Company lifted their target price on MaxLinear from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Stifel Nicolaus lowered their price target on MaxLinear from $26.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Loop Capital dropped their price target on MaxLinear from $18.00 to $10.00 and set a “hold” rating on the stock in a report on Tuesday, April 29th. Susquehanna reduced their price target on shares of MaxLinear from $25.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Finally, Roth Capital set a $11.00 target price on shares of MaxLinear and gave the company a “neutral” rating in a research note on Thursday, April 24th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $19.06.

Insider Activity

In related news, Director Ted L. Tewksbury III sold 6,071 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $10.40, for a total value of $63,138.40. Following the completion of the sale, the director now owns 74,995 shares of the company’s stock, valued at $779,948. This trade represents a 7.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 7.80% of the stock is owned by corporate insiders.

MaxLinear Price Performance

NASDAQ MXL opened at $11.34 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24. MaxLinear, Inc. has a 1 year low of $8.35 and a 1 year high of $26.59. The company has a fifty day simple moving average of $11.17 and a 200 day simple moving average of $15.50. The company has a market cap of $959.75 million, a P/E ratio of -3.87 and a beta of 1.66.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). The business had revenue of $95.93 million for the quarter, compared to analysts’ expectations of $95.32 million. MaxLinear had a negative return on equity of 21.94% and a negative net margin of 68.01%. MaxLinear’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.21) earnings per share. On average, sell-side analysts predict that MaxLinear, Inc. will post -0.37 EPS for the current year.

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.