Westside Investment Management Inc. lowered its position in shares of MaxLinear, Inc. (NYSE:MXL) by 8.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 14,850 shares of the semiconductor company’s stock after selling 1,400 shares during the quarter. Westside Investment Management Inc.’s holdings in MaxLinear were worth $261,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the company. Bank of Montreal Can lifted its position in MaxLinear by 37.3% during the 4th quarter. Bank of Montreal Can now owns 3,728 shares of the semiconductor company’s stock worth $66,000 after acquiring an additional 1,013 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in MaxLinear during the 3rd quarter worth approximately $205,000. Riverhead Capital Management LLC lifted its position in MaxLinear by 68.8% during the 3rd quarter. Riverhead Capital Management LLC now owns 10,800 shares of the semiconductor company’s stock worth $215,000 after acquiring an additional 4,400 shares in the last quarter. Captrust Financial Advisors acquired a new position in MaxLinear during the 3rd quarter worth approximately $226,000. Finally, Pacer Advisors Inc. acquired a new position in MaxLinear during the 3rd quarter worth approximately $239,000. Institutional investors and hedge funds own 94.87% of the company’s stock.
Shares of MXL traded up $0.17 during trading on Tuesday, reaching $22.08. The company’s stock had a trading volume of 269 shares, compared to its average volume of 627,196. MaxLinear, Inc. has a twelve month low of $14.87 and a twelve month high of $26.03. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 28.29, a PEG ratio of 1.41 and a beta of 1.00. The company has a quick ratio of 1.97, a current ratio of 2.56 and a debt-to-equity ratio of 0.64.
MaxLinear (NYSE:MXL) last announced its earnings results on Tuesday, February 5th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.11. MaxLinear had a positive return on equity of 11.90% and a negative net margin of 6.80%. The company had revenue of $87.63 million for the quarter, compared to analyst estimates of $87.00 million. During the same period in the prior year, the company posted $0.38 EPS. MaxLinear’s quarterly revenue was down 22.9% on a year-over-year basis. On average, equities analysts expect that MaxLinear, Inc. will post 0.77 earnings per share for the current fiscal year.
MXL has been the topic of several recent research reports. Needham & Company LLC reissued a “buy” rating and set a $20.00 price target on shares of MaxLinear in a research report on Wednesday, November 14th. JPMorgan Chase & Co. initiated coverage on MaxLinear in a research report on Friday, January 4th. They set a “neutral” rating and a $18.00 price target on the stock. ValuEngine lowered MaxLinear from a “buy” rating to a “hold” rating in a research report on Wednesday, January 9th. Zacks Investment Research lowered MaxLinear from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Susquehanna Bancshares lowered MaxLinear from a “positive” rating to a “neutral” rating and reduced their price target for the stock from $21.00 to $18.00 in a research report on Thursday, October 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $21.83.
In related news, VP Michael J. Lachance sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $20.75, for a total transaction of $1,037,500.00. Following the sale, the vice president now directly owns 131,232 shares of the company’s stock, valued at approximately $2,723,064. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP William Torgerson sold 12,500 shares of the company’s stock in a transaction that occurred on Thursday, December 6th. The shares were sold at an average price of $19.61, for a total value of $245,125.00. Following the sale, the vice president now directly owns 104,761 shares in the company, valued at $2,054,363.21. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,593 shares of company stock worth $1,328,043. 11.47% of the stock is currently owned by corporate insiders.
MaxLinear Company Profile
MaxLinear, Inc provides radio-frequency (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. The company offers range of semiconductor products, such as RF receivers and RF receiver SoCs, wireless infrastructure backhaul RF receivers and modem SoCs, laser modulator drivers, transimpedance amplifiers, clock and data recovery circuits, interface solutions, power management products, and data encryption and compression products.
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