Algert Global LLC Sells 73,706 Shares of MaxLinear, Inc. (NASDAQ:MXL)

Algert Global LLC reduced its position in MaxLinear, Inc. (NASDAQ:MXL) by 39.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 113,994 shares of the semiconductor company’s stock after selling 73,706 shares during the quarter. Algert Global LLC owned approximately 0.14% of MaxLinear worth $1,651,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Innealta Capital LLC acquired a new stake in shares of MaxLinear during the 2nd quarter valued at about $30,000. International Assets Investment Management LLC acquired a new stake in MaxLinear in the 2nd quarter valued at $31,000. GAMMA Investing LLC boosted its stake in shares of MaxLinear by 151.8% in the 3rd 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 in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of MaxLinear during the 2nd quarter worth about $56,000. Finally, CWM LLC lifted its holdings in MaxLinear by 321.3% during the 3rd quarter. CWM LLC now owns 5,793 shares of the semiconductor company’s stock valued at $84,000 after purchasing an additional 4,418 shares during the last quarter. Institutional investors and hedge funds own 90.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MXL shares. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a report on Thursday, October 24th. Benchmark reiterated a “buy” rating and issued a $22.00 price objective on shares of MaxLinear in a research report on Thursday, October 24th. Craig Hallum decreased their target price on MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Susquehanna downgraded shares of MaxLinear from a “positive” rating to a “neutral” rating and reduced their price target for the stock from $26.00 to $15.00 in a research report on Tuesday, October 1st. Finally, Wells Fargo & Company started coverage on shares of MaxLinear in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $14.00 price objective for the company. One 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.com, the company has an average rating of “Hold” and a consensus price target of $22.29.

MaxLinear Stock Down 2.6 %

Shares of NASDAQ MXL opened at $14.55 on Thursday. MaxLinear, Inc. has a 1 year low of $11.08 and a 1 year high of $26.59. The firm’s 50-day moving average is $14.44 and its 200-day moving average is $16.16. The company has a current ratio of 1.95, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $1.23 billion, a PE ratio of -5.49 and a beta of 1.85.

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). The company had revenue of $81.10 million during the quarter, compared to the consensus estimate of $80.40 million. MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%. The firm’s revenue for the quarter was down 40.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.02) earnings per share. Equities analysts expect that MaxLinear, Inc. will post -1.66 EPS for the current year.

Insider Transactions at MaxLinear

In other MaxLinear news, VP William Torgerson sold 6,100 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $15.40, for a total value of $93,940.00. Following the completion of the sale, the vice president now directly owns 179,262 shares in the company, valued at $2,760,634.80. This represents a 3.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ted L. Tewksbury III sold 5,800 shares of MaxLinear stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $15.36, for a total transaction of $89,088.00. Following the completion of the transaction, the director now directly owns 69,717 shares in the company, valued at approximately $1,070,853.12. The trade was a 7.68 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.60% of the company’s stock.

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.