PDT Partners LLC Invests $2.69 Million in MaxLinear, Inc. (NASDAQ:MXL)

PDT Partners LLC acquired a new stake in MaxLinear, Inc. (NASDAQ:MXL) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 185,966 shares of the semiconductor company’s stock, valued at approximately $2,693,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Simplicity Wealth LLC increased its holdings in shares of MaxLinear by 3.1% during the second quarter. Simplicity Wealth LLC now owns 19,283 shares of the semiconductor company’s stock valued at $388,000 after purchasing an additional 579 shares during the period. Louisiana State Employees Retirement System increased its stake in MaxLinear by 3.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 38,000 shares of the semiconductor company’s stock valued at $765,000 after buying an additional 1,100 shares during the period. Nisa Investment Advisors LLC raised its position in shares of MaxLinear by 20.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 7,761 shares of the semiconductor company’s stock worth $112,000 after buying an additional 1,308 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of MaxLinear in the 2nd quarter worth approximately $30,000. Finally, International Assets Investment Management LLC bought a new position in shares of MaxLinear in the second quarter valued at approximately $31,000. 90.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Ted L. Tewksbury III sold 5,800 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $15.36, for a total value of $89,088.00. Following the transaction, the director now owns 69,717 shares in the company, valued at approximately $1,070,853.12. This represents a 7.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP William Torgerson sold 6,100 shares of MaxLinear 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 completion of the sale, the vice president now owns 179,262 shares of the company’s stock, 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. 8.60% of the stock is owned by corporate insiders.

MaxLinear Trading Up 4.0 %

Shares of MXL stock opened at $15.13 on Friday. MaxLinear, Inc. has a 1-year low of $11.08 and a 1-year high of $26.59. The company has a current ratio of 1.95, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22. The stock’s fifty day simple moving average is $14.47 and its 200-day simple moving average is $16.09.

MaxLinear (NASDAQ:MXL) last released its earnings results 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). MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. The business had revenue of $81.10 million for the quarter, compared to analysts’ expectations of $80.40 million. During the same period last year, the firm earned ($0.02) EPS. The company’s revenue was down 40.2% compared to the same quarter last year. On average, sell-side analysts expect that MaxLinear, Inc. will post -1.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MXL shares. Benchmark reissued a “buy” rating and set a $22.00 target price on shares of MaxLinear in a report on Thursday, October 24th. Needham & Company LLC reiterated a “hold” rating on shares of MaxLinear in a research report on Thursday, October 24th. Susquehanna lowered shares of MaxLinear from a “positive” rating to a “neutral” rating and reduced their price objective for the company from $26.00 to $15.00 in a research report on Tuesday, October 1st. Craig Hallum lowered their price objective on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Finally, Wells Fargo & Company began 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 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, MaxLinear currently has an average rating of “Hold” and a consensus price target of $22.29.

About MaxLinear

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.