Bank of New York Mellon Corp Sells 76,561 Shares of MaxLinear, Inc. (NASDAQ:MXL)

Bank of New York Mellon Corp lessened its holdings in MaxLinear, Inc. (NASDAQ:MXL) by 14.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 471,739 shares of the semiconductor company’s stock after selling 76,561 shares during the period. Bank of New York Mellon Corp’s holdings in MaxLinear were worth $9,331,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MXL. Pacer Advisors Inc. grew its position in shares of MaxLinear by 29.0% during the 4th quarter. Pacer Advisors Inc. now owns 1,968 shares of the semiconductor company’s stock worth $39,000 after buying an additional 443 shares during the period. GAMMA Investing LLC grew its position in shares of MaxLinear by 19.1% during the 4th quarter. GAMMA Investing LLC now owns 4,134 shares of the semiconductor company’s stock worth $82,000 after buying an additional 662 shares during the period. R Squared Ltd acquired a new stake in shares of MaxLinear during the 4th quarter worth approximately $45,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of MaxLinear by 12.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,046 shares of the semiconductor company’s stock worth $334,000 after buying an additional 2,618 shares during the period. Finally, Truvestments Capital LLC acquired a new stake in shares of MaxLinear during the 3rd quarter worth approximately $42,000. Institutional investors own 90.79% of the company’s stock.

MaxLinear Stock Up 2.2 %

Shares of MXL opened at $12.68 on Friday. The firm has a market cap of $1.07 billion, a P/E ratio of -4.33 and a beta of 1.76. The stock has a 50 day simple moving average of $17.89 and a two-hundred day simple moving average of $16.39. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.77 and a quick ratio of 1.28. MaxLinear, Inc. has a 1 year low of $11.08 and a 1 year high of $26.59.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.14). MaxLinear had a negative net margin of 68.01% and a negative return on equity of 21.94%. On average, analysts forecast that MaxLinear, Inc. will post -0.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MXL. Susquehanna reduced their price objective on shares of MaxLinear from $25.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Northland Securities raised their price objective on shares of MaxLinear from $25.00 to $27.50 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Benchmark reissued a “buy” rating and issued a $28.00 price target on shares of MaxLinear in a research report on Thursday, January 30th. Wells Fargo & Company lifted their price target on shares of MaxLinear from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Finally, Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, MaxLinear presently has a consensus rating of “Hold” and an average price target of $25.50.

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.