MaxLinear, Inc. (NYSE:MXL) Shares Sold by IMA Wealth Inc.

IMA Wealth Inc. cut its stake in MaxLinear, Inc. (NYSE:MXL) by 11.8% in the fourth quarter, Holdings Channel reports. The fund owned 33,928 shares of the semiconductor company’s stock after selling 4,538 shares during the period. IMA Wealth Inc.’s holdings in MaxLinear were worth $806,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Invesco Ltd. increased its position in shares of MaxLinear by 97.1% during the 3rd quarter. Invesco Ltd. now owns 3,482,949 shares of the semiconductor company’s stock worth $77,496,000 after purchasing an additional 1,716,026 shares during the last quarter. Vanguard Group Inc. increased its position in shares of MaxLinear by 12.6% during the 3rd quarter. Vanguard Group Inc. now owns 10,683,038 shares of the semiconductor company’s stock worth $237,698,000 after purchasing an additional 1,199,257 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of MaxLinear by 423.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 657,157 shares of the semiconductor company’s stock worth $14,622,000 after purchasing an additional 531,529 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of MaxLinear during the 4th quarter worth about $7,553,000. Finally, Managed Asset Portfolios LLC purchased a new position in MaxLinear during the 3rd quarter valued at about $5,675,000. 90.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MXL. Wells Fargo & Company cut MaxLinear from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $35.00 to $25.00 in a report on Wednesday, January 3rd. Northland Securities upgraded MaxLinear from a “market perform” rating to an “outperform” rating and set a $30.00 target price for the company in a report on Thursday, April 4th. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 price objective on shares of MaxLinear in a research note on Thursday. StockNews.com downgraded shares of MaxLinear from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Benchmark reissued a “buy” rating and issued a $28.00 price objective on shares of MaxLinear in a research report on Thursday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, MaxLinear currently has an average rating of “Hold” and an average price target of $26.09.

MaxLinear Stock Down 0.4 %

Shares of NYSE MXL traded down $0.09 during mid-day trading on Friday, reaching $20.59. The company had a trading volume of 843,599 shares, compared to its average volume of 1,096,932. The company has a current ratio of 1.99, a quick ratio of 1.75 and a debt-to-equity ratio of 0.19. The firm has a 50 day simple moving average of $19.92 and a two-hundred day simple moving average of $19.94. The stock has a market cap of $1.69 billion, a P/E ratio of -10.89 and a beta of 1.98. MaxLinear, Inc. has a 52-week low of $13.43 and a 52-week high of $35.09.

MaxLinear (NYSE:MXL) last posted its earnings results on Wednesday, April 24th. The semiconductor company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.02. The firm had revenue of $95.27 million for the quarter, compared to the consensus estimate of $94.99 million. MaxLinear had a negative net margin of 28.70% and a negative return on equity of 4.75%. Sell-side analysts predict that MaxLinear, Inc. will post -0.8 earnings per share for the current year.

About MaxLinear

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.