MaxLinear, Inc. (NYSE:MXL) Stock Position Lowered by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its position in shares of MaxLinear, Inc. (NYSE:MXLGet Rating) by 0.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 628,897 shares of the semiconductor company’s stock after selling 5,393 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in MaxLinear were worth $20,515,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MXL. Millennium Management LLC grew its holdings in shares of MaxLinear by 1,469.9% during the second quarter. Millennium Management LLC now owns 2,746,239 shares of the semiconductor company’s stock valued at $93,317,000 after buying an additional 2,571,311 shares in the last quarter. FMR LLC grew its stake in MaxLinear by 97.0% during the 2nd quarter. FMR LLC now owns 1,795,057 shares of the semiconductor company’s stock valued at $60,997,000 after acquiring an additional 883,780 shares in the last quarter. Invesco Ltd. increased its holdings in shares of MaxLinear by 55.8% in the 1st quarter. Invesco Ltd. now owns 1,365,980 shares of the semiconductor company’s stock valued at $79,705,000 after purchasing an additional 489,167 shares during the period. Macquarie Group Ltd. lifted its position in shares of MaxLinear by 17.5% in the second quarter. Macquarie Group Ltd. now owns 2,241,651 shares of the semiconductor company’s stock worth $76,171,000 after purchasing an additional 333,052 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of MaxLinear by 123.2% during the second quarter. Renaissance Technologies LLC now owns 600,912 shares of the semiconductor company’s stock worth $20,419,000 after purchasing an additional 331,699 shares during the period. 90.26% of the stock is owned by institutional investors and hedge funds.

MaxLinear Price Performance

Shares of NYSE:MXL opened at $39.02 on Wednesday. The stock has a market capitalization of $3.07 billion, a P/E ratio of 12.25, a P/E/G ratio of 0.88 and a beta of 1.85. The business has a 50-day moving average of $35.37 and a two-hundred day moving average of $35.59. MaxLinear, Inc. has a fifty-two week low of $29.27 and a fifty-two week high of $65.49. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.60 and a quick ratio of 1.13.

MaxLinear (NYSE:MXLGet Rating) last released its quarterly earnings results on Tuesday, October 25th. The semiconductor company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01. MaxLinear had a net margin of 11.34% and a return on equity of 47.44%. The company had revenue of $285.73 million for the quarter, compared to analyst estimates of $285.03 million. On average, equities research analysts predict that MaxLinear, Inc. will post 3.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MXL has been the subject of a number of research analyst reports. Benchmark cut their target price on shares of MaxLinear from $62.00 to $50.00 in a research report on Wednesday, October 26th. Susquehanna cut their price objective on MaxLinear from $45.00 to $42.00 in a report on Wednesday, October 26th. Northland Securities reduced their price objective on MaxLinear from $45.00 to $35.00 in a research report on Wednesday, October 26th. Deutsche Bank Aktiengesellschaft dropped their target price on MaxLinear from $50.00 to $48.00 in a research report on Wednesday, October 26th. Finally, Needham & Company LLC reduced their price target on MaxLinear from $53.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, October 26th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, MaxLinear has an average rating of “Buy” and an average price target of $48.13.

Insider Buying and Selling at MaxLinear

In other news, VP Michael Bollesen sold 5,757 shares of the company’s stock in a transaction dated Wednesday, December 14th. The stock was sold at an average price of $38.93, for a total value of $224,120.01. Following the completion of the sale, the vice president now directly owns 81,474 shares of the company’s stock, valued at approximately $3,171,782.82. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.50% of the company’s stock.

MaxLinear Company Profile

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MaxLinear, Inc provides radiofrequency (RF), high-performance analog, and mixed-signal communications systems-on-chip solutions (SoCs) for the connected home, wired and wireless infrastructure, and industrial and multi-market applications worldwide. Its products integrate various portions of a high-speed communication system, including RF, high-performance analog, mixed-signal, digital signal processing, security engines, data compression, networking layers, and power management.

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Institutional Ownership by Quarter for MaxLinear (NYSE:MXL)

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