Connor Clark & Lunn Investment Management Ltd. Sells 36,726 Shares of MaxLinear, Inc. (NASDAQ:MXL)

Connor Clark & Lunn Investment Management Ltd. reduced its position in shares of MaxLinear, Inc. (NASDAQ:MXL) by 42.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,448 shares of the semiconductor company’s stock after selling 36,726 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.06% of MaxLinear worth $716,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MXL. Innealta Capital LLC acquired a new stake in shares of MaxLinear in the second quarter valued at about $30,000. International Assets Investment Management LLC acquired a new stake in MaxLinear in the 2nd quarter valued at approximately $31,000. GAMMA Investing LLC increased its position in MaxLinear by 151.8% in the 3rd quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock worth $50,000 after buying an additional 2,093 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of MaxLinear during the second quarter worth approximately $56,000. Finally, CWM LLC boosted its position in shares of MaxLinear by 321.3% in the third quarter. CWM LLC now owns 5,793 shares of the semiconductor company’s stock valued at $84,000 after acquiring an additional 4,418 shares during the period. 90.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at MaxLinear

In other MaxLinear news, Director Ted L. Tewksbury III sold 5,800 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $15.36, for a total value of $89,088.00. Following the transaction, the director now owns 69,717 shares of the company’s stock, valued at approximately $1,070,853.12. The trade was a 7.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP William Torgerson sold 6,100 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $15.40, for a total value of $93,940.00. Following the completion of the sale, the vice president now owns 179,262 shares of the company’s stock, valued at approximately $2,760,634.80. This trade represents a 3.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.60% of the company’s stock.

Wall Street Analyst Weigh In

MXL has been the subject of several research analyst reports. Benchmark reiterated a “buy” rating and set a $22.00 target price on shares of MaxLinear in a research note on Thursday, October 24th. Wells Fargo & Company started coverage on shares of MaxLinear in a research report on Friday, November 22nd. They set an “equal weight” rating and a $14.00 price objective for the company. Craig Hallum decreased their target price on MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Needham & Company LLC restated a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. Finally, Susquehanna downgraded MaxLinear from a “positive” rating to a “neutral” rating and reduced their price objective for the stock from $26.00 to $15.00 in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $22.29.

MaxLinear Trading Down 2.6 %

Shares of MXL opened at $14.55 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22. The stock has a market cap of $1.23 billion, a PE ratio of -5.35 and a beta of 1.85. MaxLinear, Inc. has a 1 year low of $11.08 and a 1 year high of $26.59. The stock has a 50 day simple moving average of $14.45 and a 200-day simple moving average of $16.15.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. The company had revenue of $81.10 million for the quarter, compared to the consensus estimate of $80.40 million. During the same period in the previous year, the business posted ($0.02) earnings per share. The firm’s revenue was down 40.2% compared to the same quarter last year. On average, sell-side analysts predict that MaxLinear, Inc. will post -1.66 EPS for the current fiscal year.

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.