Geode Capital Management LLC Buys 6,420 Shares of MaxLinear, Inc. (NASDAQ:MXL)

Geode Capital Management LLC lifted its position in MaxLinear, Inc. (NASDAQ:MXL) by 0.4% during the 3rd quarter, Holdings Channel reports. The firm owned 1,805,722 shares of the semiconductor company’s stock after acquiring an additional 6,420 shares during the period. Geode Capital Management LLC’s holdings in MaxLinear were worth $26,152,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in MXL. Louisiana State Employees Retirement System raised its position in MaxLinear by 3.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 38,000 shares of the semiconductor company’s stock valued at $765,000 after purchasing an additional 1,100 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of MaxLinear by 20.3% during the third quarter. Nisa Investment Advisors LLC now owns 7,761 shares of the semiconductor company’s stock valued at $112,000 after acquiring an additional 1,308 shares in the last quarter. Innealta Capital LLC purchased a new stake in MaxLinear in the second quarter worth $30,000. International Assets Investment Management LLC bought a new stake in MaxLinear in the second quarter valued at $31,000. Finally, GAMMA Investing LLC boosted its holdings in MaxLinear by 151.8% in the third quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 2,093 shares in the last quarter. 90.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Steven G. Litchfield sold 32,000 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $20.35, for a total transaction of $651,200.00. Following the sale, the insider now directly owns 365,868 shares of the company’s stock, valued at $7,445,413.80. This trade represents a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP William Torgerson sold 6,100 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $15.40, for a total value of $93,940.00. Following the completion of the transaction, the vice president now directly 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 48,900 shares of company stock worth $927,278 in the last quarter. Corporate insiders own 8.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MXL shares. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a research report on Thursday, October 24th. Benchmark raised their price objective on shares of MaxLinear from $22.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Wells Fargo & Company began coverage on MaxLinear in a report on Friday, November 22nd. They set an “equal weight” rating and a $14.00 target price on the stock. Craig Hallum lowered their target price on MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Finally, Susquehanna cut MaxLinear from a “positive” rating to a “neutral” rating and reduced their price target for the stock from $26.00 to $15.00 in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $23.14.

MaxLinear Stock Performance

Shares of MXL opened at $20.50 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.95 and a debt-to-equity ratio of 0.22. The stock has a market cap of $1.73 billion, a P/E ratio of -7.54 and a beta of 1.87. The business’s 50 day moving average price is $16.47 and its 200-day moving average price is $16.25. MaxLinear, Inc. has a 52 week low of $11.08 and a 52 week high of $26.59.

MaxLinear (NASDAQ:MXL) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.04). MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%. The company had revenue of $81.10 million during the quarter, compared to the consensus estimate of $80.40 million. During the same period last year, the firm posted ($0.02) earnings per share. The company’s 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.

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.