Systematic Financial Management LP Cuts Holdings in MaxLinear, Inc (MXL)
Systematic Financial Management LP lowered its holdings in shares of MaxLinear, Inc (NYSE:MXL) by 86.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,690 shares of the semiconductor company’s stock after selling 114,865 shares during the period. Systematic Financial Management LP’s holdings in MaxLinear were worth $444,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in MXL. LS Investment Advisors LLC acquired a new position in MaxLinear during the second quarter worth about $134,000. D.A. Davidson & CO. raised its position in MaxLinear by 0.9% during the second quarter. D.A. Davidson & CO. now owns 5,298 shares of the semiconductor company’s stock worth $147,000 after acquiring an additional 45 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in shares of MaxLinear by 9.5% in the second quarter. Ameritas Investment Partners Inc. now owns 5,283 shares of the semiconductor company’s stock valued at $147,000 after buying an additional 460 shares during the last quarter. Pinebridge Investments L.P. acquired a new position in shares of MaxLinear in the second quarter valued at approximately $192,000. Finally, GSA Capital Partners LLP acquired a new position in shares of MaxLinear in the second quarter valued at approximately $208,000. Institutional investors own 88.90% of the company’s stock.
In related news, insider Daniel Omeniuk sold 760,000 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $0.15, for a total value of $114,000.00. 11.92% of the stock is currently owned by insiders.
MXL has been the subject of a number of analyst reports. BidaskClub lowered shares of MaxLinear from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 24th. Zacks Investment Research lowered shares of MaxLinear from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Needham & Company LLC reissued a “buy” rating and issued a $32.00 price objective on shares of MaxLinear in a research report on Wednesday, November 8th. Deutsche Bank cut their price objective on shares of MaxLinear from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, August 9th. Finally, Roth Capital cut their price objective on shares of MaxLinear from $38.00 to $33.50 and set a “buy” rating for the company in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the stock. MaxLinear has a consensus rating of “Buy” and an average price target of $30.36.
MaxLinear, Inc (NYSE:MXL) opened at $25.86 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.23 and a quick ratio of 1.58. The firm has a market cap of $1,768.36, a P/E ratio of 22.77, a PEG ratio of 1.26 and a beta of 0.47. MaxLinear, Inc has a 52-week low of $19.22 and a 52-week high of $32.47.
MaxLinear (NYSE:MXL) last posted its quarterly earnings data on Tuesday, November 7th. The semiconductor company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.06. MaxLinear had a net margin of 4.73% and a return on equity of 20.96%. The business had revenue of $113.58 million during the quarter, compared to analyst estimates of $115.77 million. During the same quarter in the previous year, the business posted $0.43 earnings per share. The company’s revenue was up 17.9% on a year-over-year basis. analysts forecast that MaxLinear, Inc will post 1.05 EPS for the current year.
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MaxLinear, Inc is a provider of radio frequency (RF) and mixed-signal integrated circuits for cable and satellite broadband communications and the connected home, and wired and wireless infrastructure markets. The Company’s RF receiver products capture and process digital and analog broadband signals to be decoded for various applications.
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