Point72 Asia Singapore Pte. Ltd. Purchases 124,430 Shares of MaxLinear, Inc. (NASDAQ:MXL)

Point72 Asia Singapore Pte. Ltd. boosted its position in shares of MaxLinear, Inc. (NASDAQ:MXL) by 5,114.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,863 shares of the semiconductor company’s stock after acquiring an additional 124,430 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in MaxLinear were worth $1,837,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in MaxLinear during the second quarter worth $30,000. International Assets Investment Management LLC bought a new position in shares of MaxLinear in the second quarter valued at about $31,000. Truvestments Capital LLC bought a new position in shares of MaxLinear in the third quarter valued at about $42,000. GAMMA Investing LLC raised its position in shares of MaxLinear by 151.8% in the third quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 2,093 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in shares of MaxLinear in the second quarter valued at about $56,000. 90.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Benchmark reissued a “buy” rating and issued a $22.00 price objective on shares of MaxLinear in a research report on Thursday, October 24th. Craig Hallum dropped their price objective on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Wells Fargo & Company began coverage on shares of MaxLinear in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $14.00 price target on the stock. Needham & Company LLC restated a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. Finally, Susquehanna downgraded shares of MaxLinear from a “positive” rating to a “neutral” rating and decreased their price target for the company from $26.00 to $15.00 in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $22.29.

Insider Activity

In other news, Director Ted L. Tewksbury III sold 5,800 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $15.36, for a total value of $89,088.00. Following the sale, the director now directly owns 69,717 shares in the company, valued at approximately $1,070,853.12. This trade represents a 7.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP William Torgerson sold 6,100 shares of the firm’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 completion of the transaction, the vice president now owns 179,262 shares of the company’s stock, valued at approximately $2,760,634.80. This trade represents a 3.29 % decrease in their position. The disclosure for this sale can be found here. 8.60% of the stock is currently owned by corporate insiders.

MaxLinear Trading Up 4.0 %

Shares of MaxLinear stock opened at $15.13 on Monday. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of -5.56 and a beta of 1.85. The company has a quick ratio of 1.38, a current ratio of 1.95 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. The firm’s 50-day moving average price is $14.47 and its two-hundred day moving average price is $16.06.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). The firm had revenue of $81.10 million for the quarter, compared to analyst estimates of $80.40 million. MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%. The company’s quarterly revenue was down 40.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.02) earnings per share. On average, analysts forecast that MaxLinear, Inc. will post -1.66 earnings per share for the current fiscal year.

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.