AQR Capital Management LLC Takes $870,000 Position in MaxLinear, Inc. (NYSE:MXL)

AQR Capital Management LLC acquired a new position in MaxLinear, Inc. (NYSE:MXL) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 43,192 shares of the semiconductor company’s stock, valued at approximately $870,000.

A number of other hedge funds have also bought and sold shares of MXL. Headlands Technologies LLC purchased a new stake in shares of MaxLinear during the 1st quarter valued at about $27,000. Innealta Capital LLC bought a new position in MaxLinear during the second quarter valued at approximately $30,000. International Assets Investment Management LLC purchased a new stake in MaxLinear in the second quarter worth approximately $31,000. Canada Pension Plan Investment Board purchased a new stake in MaxLinear in the second quarter worth approximately $56,000. Finally, EntryPoint Capital LLC bought a new stake in MaxLinear in the 1st quarter worth approximately $59,000. Hedge funds and other institutional investors own 90.79% of the company’s stock.

Insider Buying and Selling at MaxLinear

In other MaxLinear news, CEO Kishore Seendripu acquired 108,303 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was purchased at an average price of $12.94 per share, with a total value of $1,401,440.82. Following the completion of the purchase, the chief executive officer now directly owns 531,937 shares in the company, valued at approximately $6,883,264.78. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 8.60% of the company’s stock.

MaxLinear Trading Up 6.1 %

MaxLinear stock opened at $14.24 on Friday. The company has a current ratio of 2.09, a quick ratio of 1.59 and a debt-to-equity ratio of 0.20. MaxLinear, Inc. has a 12-month low of $11.08 and a 12-month high of $26.59. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -7.53 and a beta of 1.83. The firm has a 50 day moving average of $13.33 and a 200 day moving average of $17.52.

MaxLinear (NYSE:MXL) last announced its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.06). MaxLinear had a negative return on equity of 12.39% and a negative net margin of 42.38%. The firm had revenue of $92.00 million during the quarter, compared to analysts’ expectations of $100.25 million. During the same period last year, the company earned $0.19 earnings per share. The business’s revenue for the quarter was down 50.0% on a year-over-year basis. As a group, research analysts predict that MaxLinear, Inc. will post -1.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MXL shares. Benchmark dropped their price target on MaxLinear from $28.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Needham & Company LLC cut MaxLinear from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Craig Hallum reduced their price target on shares of MaxLinear from $38.00 to $28.00 and set a “hold” rating for the company in a research report on Thursday, July 25th. Susquehanna cut shares of MaxLinear from a “positive” rating to a “neutral” rating and lowered their price objective for the stock from $26.00 to $15.00 in a research note on Tuesday, October 1st. Finally, 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 report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, MaxLinear presently has an average rating of “Hold” and a consensus price target of $23.44.

MaxLinear Company 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.