Point72 Hong Kong Ltd Makes New Investment in MaxLinear, Inc. (NASDAQ:MXL)

Point72 Hong Kong Ltd acquired a new stake in MaxLinear, Inc. (NASDAQ:MXL) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 1,297,210 shares of the semiconductor company’s stock, valued at approximately $25,659,000. MaxLinear accounts for approximately 1.6% of Point72 Hong Kong Ltd’s portfolio, making the stock its 11th largest holding.

A number of other institutional investors also recently made changes to their positions in MXL. Assenagon Asset Management S.A. grew its position in MaxLinear by 339.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,250,769 shares of the semiconductor company’s stock worth $24,740,000 after acquiring an additional 966,468 shares during the last quarter. Barclays PLC grew its holdings in shares of MaxLinear by 47.6% in the third quarter. Barclays PLC now owns 335,804 shares of the semiconductor company’s stock worth $4,860,000 after purchasing an additional 108,346 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in shares of MaxLinear by 10.0% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,268,857 shares of the semiconductor company’s stock worth $25,098,000 after buying an additional 115,867 shares during the period. Principal Financial Group Inc. increased its stake in shares of MaxLinear by 3.5% in the fourth quarter. Principal Financial Group Inc. now owns 374,722 shares of the semiconductor company’s stock worth $7,412,000 after buying an additional 12,838 shares during the period. Finally, First Trust Advisors LP bought a new stake in MaxLinear during the 4th quarter valued at $280,000. Hedge funds and other institutional investors own 90.79% of the company’s stock.

MaxLinear Stock Performance

Shares of MXL opened at $12.79 on Thursday. The company has a 50-day simple moving average of $11.17 and a two-hundred day simple moving average of $15.45. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.77 and a quick ratio of 1.28. The firm has a market capitalization of $1.08 billion, a PE ratio of -4.37 and a beta of 1.66. MaxLinear, Inc. has a one year low of $8.35 and a one year high of $26.59.

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

Analyst Ratings Changes

A number of equities analysts have issued reports on MXL shares. Stifel Nicolaus decreased their price objective on shares of MaxLinear from $26.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a research note on Thursday, January 30th. Benchmark reaffirmed a “buy” rating and set a $20.00 price target on shares of MaxLinear in a research report on Thursday, April 24th. Wells Fargo & Company increased their price objective on MaxLinear from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Finally, Loop Capital reduced their target price on MaxLinear from $18.00 to $10.00 and set a “hold” rating on the stock in a research note on Tuesday, April 29th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, MaxLinear presently has a consensus rating of “Hold” and a consensus target price of $19.06.

Insider Buying and Selling at MaxLinear

In other MaxLinear 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 transaction of $63,138.40. Following the completion of the transaction, the director now owns 74,995 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. Insiders own 7.80% of the company’s stock.

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.