Primecap Management Co. CA Sells 61,140 Shares of MaxLinear, Inc. (NYSE:MXL)

Primecap Management Co. CA decreased its stake in shares of MaxLinear, Inc. (NYSE:MXL) by 2.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,285,960 shares of the semiconductor company’s stock after selling 61,140 shares during the period. Primecap Management Co. CA owned 2.75% of MaxLinear worth $46,039,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Simplicity Wealth LLC boosted its holdings in shares of 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 buying an additional 579 shares during the period. ProShare Advisors LLC boosted its holdings in shares of MaxLinear by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 15,304 shares of the semiconductor company’s stock worth $286,000 after buying an additional 1,061 shares during the period. Louisiana State Employees Retirement System boosted its holdings in shares of MaxLinear by 3.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 38,000 shares of the semiconductor company’s stock worth $765,000 after buying an additional 1,100 shares during the period. Swiss National Bank boosted its holdings in shares of MaxLinear by 0.9% during the 1st quarter. Swiss National Bank now owns 152,973 shares of the semiconductor company’s stock worth $2,856,000 after buying an additional 1,300 shares during the period. Finally, Texas Permanent School Fund Corp boosted its holdings in shares of MaxLinear by 2.2% during the 1st quarter. Texas Permanent School Fund Corp now owns 65,248 shares of the semiconductor company’s stock worth $1,218,000 after buying an additional 1,375 shares during the period. Institutional investors own 90.79% of the company’s stock.

Wall Street Analyst Weigh In

MXL has been the subject of a number of recent research reports. Northland Securities cut their price objective on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Needham & Company LLC downgraded shares of MaxLinear from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Craig Hallum cut their price objective on shares of MaxLinear from $38.00 to $28.00 and set a “hold” rating for the company in a report on Thursday, July 25th. Stifel Nicolaus boosted their price objective on shares of MaxLinear from $26.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, Susquehanna cut their price objective on shares of MaxLinear from $30.00 to $26.00 and set a “positive” rating for the company in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $24.67.

Insider Buying and Selling

In related news, CEO Kishore Seendripu acquired 108,303 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was acquired at an average cost of $12.94 per share, for a total transaction of $1,401,440.82. Following the transaction, the chief executive officer now directly owns 531,937 shares in the company, valued at $6,883,264.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.60% of the stock is owned by corporate insiders.

MaxLinear Price Performance

Shares of NYSE:MXL opened at $14.22 on Wednesday. The firm has a 50 day moving average of $15.37 and a 200-day moving average of $18.14. The stock has a market capitalization of $1.18 billion, a PE ratio of -7.52 and a beta of 1.84. The company has a current ratio of 2.09, a quick ratio of 1.59 and a debt-to-equity ratio of 0.20. MaxLinear, Inc. has a 12 month low of $11.08 and a 12 month high of $26.59.

MaxLinear (NYSE:MXL) last released its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.06). The company had revenue of $92.00 million for the quarter, compared to analyst estimates of $100.25 million. MaxLinear had a negative return on equity of 12.39% and a negative net margin of 42.38%. MaxLinear’s revenue for the quarter was down 50.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.19 earnings per share. On average, equities research analysts predict that MaxLinear, Inc. will post -1.6 EPS for the current fiscal year.

MaxLinear Company 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.