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

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in shares of MaxLinear, Inc. (NASDAQ:MXL) by 42.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 49,448 shares of the semiconductor company’s stock after selling 36,726 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in MaxLinear were worth $716,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its holdings in MaxLinear by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 2,535,449 shares of the semiconductor company’s stock valued at $51,064,000 after purchasing an additional 128,585 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of MaxLinear by 10.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,071,183 shares of the semiconductor company’s stock worth $41,714,000 after buying an additional 192,021 shares during the period. Hood River Capital Management LLC bought a new stake in shares of MaxLinear in the 2nd quarter valued at about $24,184,000. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of MaxLinear in the 3rd quarter valued at approximately $16,696,000. Finally, Millennium Management LLC boosted its stake in 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 acquiring an additional 788,558 shares during the last quarter. Institutional investors and hedge funds own 90.79% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several brokerages have commented on MXL. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. Benchmark reaffirmed a “buy” rating and set a $22.00 price objective on shares of MaxLinear in a research note on Thursday, October 24th. Susquehanna cut MaxLinear from a “positive” rating to a “neutral” rating and decreased their target price for the company from $26.00 to $15.00 in a research note on Tuesday, October 1st. Craig Hallum dropped their price target on MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Finally, Wells Fargo & Company started coverage on MaxLinear in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $14.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $22.29.

MaxLinear Stock Down 2.6 %

Shares of MaxLinear stock opened at $14.55 on Friday. The firm has a market cap of $1.23 billion, a PE ratio of -5.35 and a beta of 1.85. The business’s 50 day simple moving average is $14.45 and its 200 day simple moving average is $16.15. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.95. MaxLinear, Inc. has a 52-week low of $11.08 and a 52-week high of $26.59.

MaxLinear (NASDAQ:MXL) last posted 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 business had revenue of $81.10 million during the quarter, compared to analyst estimates of $80.40 million. During the same quarter last year, the business earned ($0.02) earnings per share. MaxLinear’s revenue for the quarter was down 40.2% on a year-over-year basis. On average, analysts predict that MaxLinear, Inc. will post -1.66 earnings per share 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.