Primecap Management Co. CA Sells 166,290 Shares of MaxLinear, Inc. (NASDAQ:MXL)

Primecap Management Co. CA lessened its stake in MaxLinear, Inc. (NASDAQ:MXL) by 8.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,904,880 shares of the semiconductor company’s stock after selling 166,290 shares during the period. Primecap Management Co. CA owned approximately 2.25% of MaxLinear worth $37,679,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. grew its position in MaxLinear by 29.0% in the 4th quarter. Pacer Advisors Inc. now owns 1,968 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 443 shares during the period. Wealthfront Advisers LLC bought a new stake in MaxLinear in the 4th quarter worth approximately $45,000. R Squared Ltd bought a new stake in MaxLinear in the 4th quarter worth approximately $45,000. Larson Financial Group LLC grew its position in MaxLinear by 3,092.0% in the 4th quarter. Larson Financial Group LLC now owns 2,809 shares of the semiconductor company’s stock worth $56,000 after purchasing an additional 2,721 shares during the period. Finally, Truvestments Capital LLC bought a new stake in MaxLinear in the 3rd quarter worth approximately $42,000. Institutional investors own 90.79% of the company’s stock.

Analyst Upgrades and Downgrades

MXL has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on shares of MaxLinear from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Northland Securities lifted their price target on shares of MaxLinear from $25.00 to $27.50 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Needham & Company LLC reiterated a “hold” rating on shares of MaxLinear in a research note on Thursday, January 30th. Benchmark reiterated a “buy” rating and set a $28.00 price target on shares of MaxLinear in a research note on Thursday, January 30th. Finally, Susquehanna dropped their price target on shares of MaxLinear from $25.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, MaxLinear has a consensus rating of “Hold” and a consensus target price of $25.50.

MaxLinear Stock Down 3.0 %

MXL opened at $12.83 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.28 and a current ratio of 1.77. MaxLinear, Inc. has a fifty-two week low of $11.08 and a fifty-two week high of $26.59. The firm’s fifty day moving average is $17.44 and its 200 day moving average is $16.44. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -4.38 and a beta of 1.76.

MaxLinear (NASDAQ:MXL) last released its earnings results on Wednesday, January 29th. The semiconductor company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.14). MaxLinear had a negative net margin of 68.01% and a negative return on equity of 21.94%. On average, sell-side analysts forecast that MaxLinear, Inc. will post -0.37 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.