Walleye Capital LLC Reduces Holdings in MaxLinear, Inc. (NASDAQ:MXL)

Walleye Capital LLC reduced its position in MaxLinear, Inc. (NASDAQ:MXL) by 18.6% in the 3rd quarter, Holdings Channel reports. The firm owned 172,094 shares of the semiconductor company’s stock after selling 39,351 shares during the period. Walleye Capital LLC’s holdings in MaxLinear were worth $2,492,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in shares of MaxLinear by 5.3% during the second quarter. Bank of New York Mellon Corp now owns 2,535,449 shares of the semiconductor company’s stock worth $51,064,000 after buying an additional 128,585 shares during the period. Dimensional Fund Advisors LP raised its stake in MaxLinear by 10.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,071,183 shares of the semiconductor company’s stock valued at $41,714,000 after acquiring an additional 192,021 shares during the last quarter. Hood River Capital Management LLC acquired a new stake in MaxLinear during the 2nd quarter worth approximately $24,184,000. Vaughan Nelson Investment Management L.P. purchased a new position in shares of MaxLinear in the 3rd quarter valued at approximately $16,696,000. Finally, Millennium Management LLC increased its holdings in shares of MaxLinear by 307.9% in the second quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company’s stock valued at $21,039,000 after purchasing an additional 788,558 shares during the period. 90.79% of the stock is owned by institutional investors and hedge funds.

MaxLinear Price Performance

MXL stock opened at $17.40 on Wednesday. The firm has a 50 day moving average of $14.56 and a 200-day moving average of $16.03. The company has a market cap of $1.47 billion, a price-to-earnings ratio of -6.40 and a beta of 1.87. 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 12-month low of $11.08 and a 12-month high of $26.59.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings data 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). 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 business’s revenue for the quarter was down 40.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.02) earnings per share. As a group, equities analysts expect that MaxLinear, Inc. will post -1.66 EPS for the current fiscal year.

Analyst Ratings Changes

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

Insider Buying and Selling at MaxLinear

In other MaxLinear news, VP William Torgerson sold 6,100 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ted L. Tewksbury III sold 5,800 shares of the company’s stock in a transaction 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 completion of the sale, the director now owns 69,717 shares in the company, valued at $1,070,853.12. This represents a 7.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.60% of the stock is currently owned by insiders.

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.