MaxLinear, Inc. (NASDAQ:MXL) Position Lessened by Needham Investment Management LLC

Needham Investment Management LLC lowered its stake in shares of MaxLinear, Inc. (NASDAQ:MXL) by 5.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 225,000 shares of the semiconductor company’s stock after selling 12,500 shares during the quarter. Needham Investment Management LLC owned approximately 0.27% of MaxLinear worth $3,258,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MXL. Hood River Capital Management LLC bought a new position in shares of MaxLinear during the second quarter worth about $24,184,000. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of MaxLinear in the third quarter valued at approximately $16,696,000. Millennium Management LLC raised its holdings in shares of MaxLinear by 307.9% during the second quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company’s stock valued at $21,039,000 after buying an additional 788,558 shares during the last quarter. FMR LLC boosted its position in shares of MaxLinear by 184.5% during the third quarter. FMR LLC now owns 456,929 shares of the semiconductor company’s stock worth $6,616,000 after buying an additional 296,339 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its position in MaxLinear by 36.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,089,065 shares of the semiconductor company’s stock valued at $15,770,000 after acquiring an additional 291,874 shares during the period. 90.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity at MaxLinear

In related news, VP William Torgerson sold 6,100 shares of the company’s stock in a transaction 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 directly owns 179,262 shares of the company’s stock, valued at approximately $2,760,634.80. This represents a 3.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ted L. Tewksbury III sold 5,800 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 69,717 shares of the company’s stock, valued at approximately $1,070,853.12. This represents a 7.68 % decrease in their position. The disclosure for this sale can be found here. 8.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MXL has been the topic of a number of research analyst reports. Susquehanna lowered MaxLinear from a “positive” rating to a “neutral” rating and lowered their price target for the company from $26.00 to $15.00 in a report on Tuesday, October 1st. Craig Hallum decreased their price objective on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Wells Fargo & Company started coverage on MaxLinear in a report on Friday, November 22nd. They set an “equal weight” rating and a $14.00 target price on the stock. Needham & Company LLC reiterated a “hold” rating on shares of MaxLinear in a research report on Thursday, October 24th. Finally, Benchmark restated a “buy” rating and issued a $22.00 price objective on shares of MaxLinear in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, MaxLinear currently has an average rating of “Hold” and a consensus target price of $22.29.

MaxLinear Price Performance

Shares of NASDAQ MXL traded up $1.04 during mid-day trading on Tuesday, hitting $16.17. 935,889 shares of the company traded hands, compared to its average volume of 1,053,608. 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 1 year low of $11.08 and a 1 year high of $26.59. The business has a 50 day moving average of $14.51 and a two-hundred day moving average of $16.04.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported ($0.36) 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 analysts’ expectations 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 period in the prior year, the company posted ($0.02) earnings per share. As a group, analysts predict that MaxLinear, Inc. will post -1.66 earnings per share for the current year.

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.