GSA Capital Partners LLP Buys New Stake in MaxLinear, Inc. (NASDAQ:MXL)

GSA Capital Partners LLP purchased a new stake in shares of MaxLinear, Inc. (NASDAQ:MXL) during the 3rd quarter, HoldingsChannel reports. The firm purchased 57,496 shares of the semiconductor company’s stock, valued at approximately $833,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of MaxLinear by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 12,253,823 shares of the semiconductor company’s stock valued at $228,779,000 after acquiring an additional 667,550 shares during the period. Edgestream Partners L.P. increased its position in shares of MaxLinear by 69.5% in the first quarter. Edgestream Partners L.P. now owns 105,355 shares of the semiconductor company’s stock valued at $1,967,000 after buying an additional 43,181 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of MaxLinear in the first quarter valued at approximately $59,000. Millennium Management LLC raised its stake in shares of MaxLinear by 307.9% during the 2nd quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company’s stock worth $21,039,000 after buying an additional 788,558 shares during the period. Finally, Comerica Bank lifted its position in shares of MaxLinear by 472.6% during the 1st quarter. Comerica Bank now owns 194,405 shares of the semiconductor company’s stock valued at $3,630,000 after buying an additional 160,456 shares in the last quarter. Institutional investors and hedge funds own 90.79% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Craig Hallum cut their price target on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Northland Securities cut their target price on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. Benchmark reiterated a “buy” rating and set a $22.00 price objective on shares of MaxLinear in a research note on Thursday, October 24th. Finally, Susquehanna cut MaxLinear from a “positive” rating to a “neutral” rating and reduced their target price for the company from $26.00 to $15.00 in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, MaxLinear presently has a consensus rating of “Hold” and a consensus price target of $23.86.

MaxLinear Price Performance

MXL stock opened at $14.30 on Friday. MaxLinear, Inc. has a 1 year low of $11.08 and a 1 year high of $26.59. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.95 and a quick ratio of 1.38. The firm has a market capitalization of $1.21 billion, a PE ratio of -5.26 and a beta of 1.85. The business has a 50 day simple moving average of $14.29 and a 200-day simple moving average of $16.40.

MaxLinear (NASDAQ:MXL) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $80.40 million. During the same quarter in the previous year, the company earned ($0.02) earnings per share. The firm’s quarterly revenue was down 40.2% compared to the same quarter last year. Equities research analysts anticipate that MaxLinear, Inc. will post -1.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP William Torgerson sold 6,100 shares of the stock in a transaction that occurred 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 $2,760,634.80. This represents a 3.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 8.60% of the stock is owned by company insiders.

About MaxLinear

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.