Acadian Asset Management LLC bought a new position in MaxLinear, Inc (NASDAQ:MXL – Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 145,069 shares of the semiconductor company’s stock, valued at approximately $1,572,000. Acadian Asset Management LLC owned 0.17% of MaxLinear at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MXL. BI Asset Management Fondsmaeglerselskab A S acquired a new position in MaxLinear in the 1st quarter worth $49,000. Larson Financial Group LLC boosted its stake in shares of MaxLinear by 144.3% during the 1st quarter. Larson Financial Group LLC now owns 6,863 shares of the semiconductor company’s stock worth $75,000 after buying an additional 4,054 shares during the last quarter. CWM LLC boosted its stake in shares of MaxLinear by 119.6% during the 1st quarter. CWM LLC now owns 10,050 shares of the semiconductor company’s stock worth $109,000 after buying an additional 5,474 shares during the last quarter. Aigen Investment Management LP acquired a new position in shares of MaxLinear during the 1st quarter worth about $117,000. Finally, Ieq Capital LLC acquired a new position in shares of MaxLinear during the 1st quarter worth about $228,000. 90.79% of the stock is owned by institutional investors and hedge funds.
MaxLinear Stock Down 2.4%
Shares of MXL opened at $16.20 on Wednesday. MaxLinear, Inc has a 12 month low of $8.35 and a 12 month high of $25.73. The firm’s 50 day moving average is $15.71 and its 200-day moving average is $13.25. The stock has a market capitalization of $1.41 billion, a PE ratio of -6.56 and a beta of 1.76. The company has a current ratio of 1.55, a quick ratio of 1.14 and a debt-to-equity ratio of 0.25.
Analysts Set New Price Targets
A number of research firms have recently commented on MXL. Susquehanna increased their price objective on shares of MaxLinear from $11.00 to $15.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Stifel Nicolaus increased their price objective on shares of MaxLinear from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Loop Capital restated a “hold” rating and set a $15.00 price objective (up from $10.00) on shares of MaxLinear in a research note on Monday, August 4th. Benchmark restated a “buy” rating and set a $25.00 price objective on shares of MaxLinear in a research note on Tuesday, September 2nd. Finally, Wall Street Zen cut shares of MaxLinear from a “buy” rating to a “hold” rating in a report on Friday, August 22nd. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $19.31.
Get Our Latest Stock Analysis on MXL
Insider Activity
In related news, insider Steven G. Litchfield sold 102,157 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $17.28, for a total transaction of $1,765,272.96. Following the sale, the insider owned 312,203 shares in the company, valued at approximately $5,394,867.84. This trade represents a 24.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 7.80% of the company’s stock.
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.
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