Rhumbline Advisers Lowers Holdings in MaxLinear, Inc. (NASDAQ:MXL)

Rhumbline Advisers decreased its holdings in MaxLinear, Inc. (NASDAQ:MXL) by 0.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 223,379 shares of the semiconductor company’s stock after selling 1,766 shares during the quarter. Rhumbline Advisers owned 0.26% of MaxLinear worth $2,426,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Aster Capital Management DIFC Ltd acquired a new stake in MaxLinear in the fourth quarter valued at approximately $34,000. Wealthfront Advisers LLC acquired a new stake in MaxLinear in the fourth quarter valued at approximately $45,000. Larson Financial Group LLC raised its holdings in MaxLinear by 3,092.0% during the fourth quarter. Larson Financial Group LLC now owns 2,809 shares of the semiconductor company’s stock worth $56,000 after purchasing an additional 2,721 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in MaxLinear by 95.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,891 shares of the semiconductor company’s stock worth $77,000 after purchasing an additional 1,900 shares in the last quarter. Finally, AlphaQuest LLC raised its holdings in MaxLinear by 13,836.7% during the fourth quarter. AlphaQuest LLC now owns 4,181 shares of the semiconductor company’s stock worth $83,000 after purchasing an additional 4,151 shares in the last quarter. Hedge funds and other institutional investors own 90.79% of the company’s stock.

Insider Activity at MaxLinear

In related news, Director Ted L. Tewksbury III sold 6,071 shares of MaxLinear stock in a transaction 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 transaction, the director now directly owns 74,995 shares in the company, valued at $779,948. This trade represents a 7.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 7.80% of the stock is currently owned by insiders.

MaxLinear Stock Performance

Shares of MaxLinear stock opened at $12.11 on Tuesday. The firm’s fifty day simple moving average is $11.28 and its 200-day simple moving average is $15.01. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -4.13 and a beta of 1.68. MaxLinear, Inc. has a 12 month low of $8.35 and a 12 month high of $26.59. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.77 and a quick ratio of 1.28.

MaxLinear (NASDAQ:MXL) last announced its earnings results on Wednesday, April 23rd. The semiconductor company reported ($0.05) 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 net margin of 68.01% and a negative return on equity of 21.94%. The company’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.21) EPS. As a group, equities analysts forecast that MaxLinear, Inc. will post -0.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Stifel Nicolaus cut their price objective on shares of MaxLinear from $26.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Loop Capital cut their price objective on shares of MaxLinear from $18.00 to $10.00 and set a “hold” rating on the stock in a report on Tuesday, April 29th. Roth Capital set a $11.00 price objective on shares of MaxLinear and gave the stock a “neutral” rating in a report on Thursday, April 24th. Finally, Benchmark reissued a “buy” rating and set a $20.00 price objective on shares of MaxLinear in a report 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.com, the stock currently has an average rating of “Hold” and an average target price of $19.06.

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.