Assenagon Asset Management S.A. Acquires 966,468 Shares of MaxLinear, Inc. (NASDAQ:MXL)

Assenagon Asset Management S.A. grew its holdings in MaxLinear, Inc. (NASDAQ:MXL) by 339.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,250,769 shares of the semiconductor company’s stock after buying an additional 966,468 shares during the period. Assenagon Asset Management S.A. owned 1.48% of MaxLinear worth $24,740,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MXL. Truvestments Capital LLC acquired a new stake in MaxLinear during the 3rd quarter valued at $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. Canada Pension Plan Investment Board acquired a new stake in shares of MaxLinear during the 2nd quarter worth about $56,000. CWM LLC boosted its holdings in shares of MaxLinear by 321.3% during the 3rd quarter. CWM LLC now owns 5,793 shares of the semiconductor company’s stock worth $84,000 after buying an additional 4,418 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in MaxLinear by 20.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 7,761 shares of the semiconductor company’s stock valued at $112,000 after buying an additional 1,308 shares during the last quarter. 90.79% of the stock is currently owned by institutional investors.

Insider Transactions at MaxLinear

In related news, insider Steven G. Litchfield sold 32,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $20.35, for a total transaction of $651,200.00. Following the completion of the transaction, the insider now directly owns 365,868 shares in the company, valued at $7,445,413.80. This represents a 8.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Connie H. Kwong sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $18.61, for a total transaction of $93,050.00. Following the completion of the sale, the insider now owns 49,147 shares in the company, valued at $914,625.67. This represents a 9.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,900 shares of company stock valued at $927,278. Corporate insiders own 8.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of MaxLinear in a research report on Thursday, October 24th. Wells Fargo & Company boosted their price target on MaxLinear from $14.00 to $19.00 and gave the company an “equal weight” rating in a research note on Monday. Northland Securities upped their price objective on MaxLinear from $25.00 to $27.50 and gave the company an “outperform” rating in a report on Monday, January 6th. Benchmark boosted their target price on shares of MaxLinear from $22.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Susquehanna lowered shares of MaxLinear from a “positive” rating to a “neutral” rating and lowered their price target for the stock from $26.00 to $15.00 in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $24.21.

MaxLinear Trading Up 1.3 %

Shares of MaxLinear stock opened at $22.61 on Friday. The firm’s 50-day moving average price is $18.35 and its two-hundred day moving average price is $16.41. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of -8.31 and a beta of 1.79. 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.

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