PNC Financial Services Group Inc. Raises Holdings in MaxLinear, Inc. (NASDAQ:MXL)

PNC Financial Services Group Inc. lifted its position in MaxLinear, Inc. (NASDAQ:MXL) by 95.4% in the fourth quarter, Holdings Channel reports. The firm owned 3,891 shares of the semiconductor company’s stock after acquiring an additional 1,900 shares during the period. PNC Financial Services Group Inc.’s holdings in MaxLinear were worth $77,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in MXL. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of MaxLinear by 5,114.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 126,863 shares of the semiconductor company’s stock worth $1,837,000 after buying an additional 124,430 shares during the period. Quantbot Technologies LP lifted its position in MaxLinear by 111.7% during the 3rd quarter. Quantbot Technologies LP now owns 66,363 shares of the semiconductor company’s stock worth $961,000 after acquiring an additional 35,018 shares during the period. Two Sigma Advisers LP grew its stake in shares of MaxLinear by 21.8% in the 3rd quarter. Two Sigma Advisers LP now owns 694,149 shares of the semiconductor company’s stock valued at $10,051,000 after purchasing an additional 124,300 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of MaxLinear by 339.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,250,769 shares of the semiconductor company’s stock valued at $24,740,000 after purchasing an additional 966,468 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of MaxLinear by 44.6% in the third quarter. JPMorgan Chase & Co. now owns 935,739 shares of the semiconductor company’s stock valued at $13,550,000 after purchasing an additional 288,607 shares during the period. Hedge funds and other institutional investors own 90.79% of the company’s stock.

MaxLinear Price Performance

Shares of NASDAQ:MXL opened at $13.20 on Wednesday. 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 $1.12 billion, a price-to-earnings ratio of -4.51 and a beta of 1.76. The business’s 50 day simple moving average is $16.82 and its 200-day simple moving average is $16.40. 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 (NASDAQ:MXL) last posted its earnings results 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%. As a group, equities analysts forecast that MaxLinear, Inc. will post -0.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MXL has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective 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. Needham & Company LLC reiterated a “hold” rating on shares of MaxLinear in a research note on Thursday, January 30th. 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 boosted their target price on MaxLinear from $25.00 to $27.50 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Finally, Benchmark reissued a “buy” rating and issued a $28.00 price target on shares of MaxLinear in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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.