Everence Capital Management Inc. Invests $205,000 in MaxLinear, Inc. (NYSE:MXL)

Everence Capital Management Inc. bought a new stake in shares of MaxLinear, Inc. (NYSE:MXL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 8,610 shares of the semiconductor company’s stock, valued at approximately $205,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MXL. Invesco Ltd. raised its stake in MaxLinear by 97.1% during the 3rd quarter. Invesco Ltd. now owns 3,482,949 shares of the semiconductor company’s stock valued at $77,496,000 after purchasing an additional 1,716,026 shares during the period. Vanguard Group Inc. raised its stake in MaxLinear by 12.6% during the 3rd quarter. Vanguard Group Inc. now owns 10,683,038 shares of the semiconductor company’s stock valued at $237,698,000 after purchasing an additional 1,199,257 shares during the period. BlackRock Inc. raised its stake in MaxLinear by 6.8% during the 1st quarter. BlackRock Inc. now owns 13,399,917 shares of the semiconductor company’s stock valued at $471,811,000 after purchasing an additional 858,544 shares during the period. Norges Bank bought a new stake in MaxLinear during the 4th quarter valued at approximately $24,371,000. Finally, Jacobs Levy Equity Management Inc. raised its stake in MaxLinear by 423.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 657,157 shares of the semiconductor company’s stock valued at $14,622,000 after purchasing an additional 531,529 shares during the period. Institutional investors own 90.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MXL. Needham & Company LLC decreased their target price on MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, February 1st. Benchmark lifted their price objective on MaxLinear from $23.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Northland Securities raised MaxLinear from a “market perform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research note on Thursday, April 4th. StockNews.com raised MaxLinear from a “sell” rating to a “hold” rating in a research note on Thursday, February 29th. Finally, Wells Fargo & Company downgraded MaxLinear from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $35.00 to $25.00 in a research note on Wednesday, January 3rd. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, MaxLinear currently has a consensus rating of “Hold” and a consensus price target of $26.09.

MaxLinear Price Performance

Shares of MaxLinear stock opened at $19.65 on Friday. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of -22.08 and a beta of 1.98. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.75 and a current ratio of 2.20. The stock has a 50 day moving average price of $19.82 and a 200-day moving average price of $19.98. MaxLinear, Inc. has a one year low of $13.43 and a one year high of $35.09.

MaxLinear (NYSE:MXL) last announced its earnings results on Wednesday, January 31st. The semiconductor company reported ($0.17) EPS for the quarter, hitting analysts’ consensus estimates of ($0.17). The firm had revenue of $125.35 million during the quarter, compared to analysts’ expectations of $125.06 million. MaxLinear had a positive return on equity of 4.77% and a negative net margin of 10.55%. Equities analysts expect that MaxLinear, Inc. will post -0.8 EPS for the current 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.