Captrust Financial Advisors Buys New Shares in MaxLinear, Inc. (NASDAQ:MXL)

Captrust Financial Advisors bought a new stake in MaxLinear, Inc. (NASDAQ:MXL) in the third quarter, HoldingsChannel reports. The fund bought 11,010 shares of the semiconductor company’s stock, valued at approximately $159,000.

A number of other hedge funds have also added to or reduced their stakes in MXL. Bank of New York Mellon Corp grew its position in shares of MaxLinear by 5.3% in the 2nd 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 acquiring an additional 128,585 shares during the period. Dimensional Fund Advisors LP grew its position in shares of MaxLinear by 10.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,071,183 shares of the semiconductor company’s stock valued at $41,714,000 after acquiring an additional 192,021 shares during the period. Hood River Capital Management LLC bought a new position in shares of MaxLinear in the 2nd quarter valued at about $24,184,000. Vaughan Nelson Investment Management L.P. bought a new position in shares of MaxLinear in the 3rd quarter valued at about $16,696,000. Finally, Millennium Management LLC grew its position in shares of MaxLinear by 307.9% in the 2nd quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company’s stock valued at $21,039,000 after acquiring an additional 788,558 shares during the period. Institutional investors own 90.79% of the company’s stock.

Insider Activity

In other MaxLinear news, VP William Torgerson sold 6,100 shares of the business’s stock in a transaction that occurred 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 $2,760,634.80. The trade was a 3.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ted L. Tewksbury III sold 5,800 shares of the business’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 sale, the director now directly owns 69,717 shares in the company, valued at $1,070,853.12. The trade was a 7.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,900 shares of company stock worth $927,278. 8.60% of the stock is currently owned by corporate insiders.

MaxLinear Price Performance

Shares of NASDAQ:MXL opened at $20.90 on Tuesday. The firm has a 50 day moving average of $15.53 and a 200-day moving average of $16.08. The stock has a market capitalization of $1.76 billion, a PE ratio of -7.68 and a beta of 1.87. The company has a current ratio of 1.95, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22. MaxLinear, Inc. has a 12 month low of $11.08 and a 12 month high of $26.59.

MaxLinear (NASDAQ:MXL) last issued 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). The firm had revenue of $81.10 million during the quarter, compared to analyst estimates of $80.40 million. MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. MaxLinear’s quarterly revenue was down 40.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. On average, equities research analysts predict that MaxLinear, Inc. will post -1.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MXL shares. Susquehanna cut shares of MaxLinear from a “positive” rating to a “neutral” rating and cut their target price for the stock from $26.00 to $15.00 in a research note on Tuesday, October 1st. Benchmark raised their target price on shares of MaxLinear from $22.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Craig Hallum cut their target price on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Needham & Company LLC restated a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. Finally, Wells Fargo & Company started coverage on shares of MaxLinear in a research note on Friday, November 22nd. They set an “equal weight” rating and a $14.00 target price for the company. One investment 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $23.14.

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.