MaxLinear, Inc. (NASDAQ:MXL) Stock Holdings Lowered by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its holdings in shares of MaxLinear, Inc. (NASDAQ:MXL) by 4.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 59,955 shares of the semiconductor company’s stock after selling 2,789 shares during the quarter. Thrivent Financial for Lutherans’ holdings in MaxLinear were worth $868,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Comerica Bank lifted its stake in MaxLinear by 472.6% during the first 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. Simplicity Wealth LLC grew its position in MaxLinear by 3.1% during the 2nd quarter. Simplicity Wealth LLC now owns 19,283 shares of the semiconductor company’s stock worth $388,000 after purchasing an additional 579 shares in the last quarter. SG Americas Securities LLC raised its stake in MaxLinear by 39.5% during the 2nd quarter. SG Americas Securities LLC now owns 12,184 shares of the semiconductor company’s stock valued at $245,000 after purchasing an additional 3,453 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of MaxLinear by 3.0% in the second 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 in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of 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 worth $51,064,000 after buying an additional 128,585 shares during the period. Institutional investors and hedge funds own 90.79% of the company’s stock.

Insider Buying and Selling at MaxLinear

In related news, Director Ted L. Tewksbury III sold 5,800 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was 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 owns 69,717 shares in the company, valued at $1,070,853.12. This trade represents a 7.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $93,940.00. Following the completion of the sale, the vice president now owns 179,262 shares in the company, valued at $2,760,634.80. This trade represents a 3.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.60% of the company’s stock.

MaxLinear Trading Up 7.6 %

Shares of MXL opened at $17.40 on Wednesday. The stock’s 50-day moving average price is $14.56 and its 200 day moving average price is $16.03. 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 firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -6.40 and a beta of 1.87. MaxLinear, Inc. has a 12-month low of $11.08 and a 12-month high of $26.59.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.04). The firm had revenue of $81.10 million for the quarter, compared to analyst estimates of $80.40 million. MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%. MaxLinear’s revenue for the quarter was down 40.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.02) EPS. As a group, research analysts predict that MaxLinear, Inc. will post -1.66 earnings per share for the current year.

Analyst Upgrades and Downgrades

MXL has been the topic of several recent analyst reports. Wells Fargo & Company assumed coverage on MaxLinear in a research report on Friday, November 22nd. They set an “equal weight” rating and a $14.00 price target on the stock. Craig Hallum reduced their price target on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Susquehanna downgraded shares of MaxLinear from a “positive” rating to a “neutral” rating and lowered their price objective for the company from $26.00 to $15.00 in a research report on Tuesday, October 1st. Benchmark reiterated a “buy” rating and issued a $22.00 target price on shares of MaxLinear in a research report on Thursday, October 24th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. 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 stock. According to MarketBeat.com, MaxLinear currently has an average rating of “Hold” and an average price target of $22.29.

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.