FMR LLC trimmed its stake in shares of MaxLinear, Inc. (NYSE:MXL) by 75.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 810,280 shares of the semiconductor company’s stock after selling 2,454,500 shares during the period. FMR LLC owned about 1.16% of MaxLinear worth $14,261,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of MXL. Amalgamated Bank acquired a new stake in shares of MaxLinear in the 4th quarter worth approximately $177,000. Macquarie Group Ltd. lifted its stake in MaxLinear by 10.8% during the fourth quarter. Macquarie Group Ltd. now owns 4,816,410 shares of the semiconductor company’s stock valued at $84,769,000 after purchasing an additional 469,445 shares during the last quarter. Legal & General Group Plc lifted its stake in MaxLinear by 0.3% during the fourth quarter. Legal & General Group Plc now owns 145,927 shares of the semiconductor company’s stock valued at $2,570,000 after purchasing an additional 455 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of MaxLinear by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 44,381 shares of the semiconductor company’s stock valued at $781,000 after acquiring an additional 976 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in shares of MaxLinear in the 4th quarter valued at approximately $318,000. Institutional investors own 98.43% of the company’s stock.
MaxLinear stock traded down $0.11 during trading hours on Monday, hitting $27.32. The company had a trading volume of 224,449 shares, compared to its average volume of 530,944. The firm has a market cap of $1.87 billion, a PE ratio of 35.03, a P/E/G ratio of 1.74 and a beta of 1.17. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.97 and a current ratio of 2.56. MaxLinear, Inc. has a fifty-two week low of $14.87 and a fifty-two week high of $27.60.
Several brokerages recently commented on MXL. Zacks Investment Research upgraded shares of MaxLinear from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. ValuEngine upgraded shares of MaxLinear from a “hold” rating to a “buy” rating in a research report on Thursday, February 28th. Needham & Company LLC reiterated a “buy” rating on shares of MaxLinear in a research note on Wednesday, February 6th. Finally, JPMorgan Chase & Co. assumed coverage on shares of MaxLinear in a research note on Friday, January 4th. They issued a “neutral” rating and a $18.00 price objective on the stock. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. MaxLinear currently has an average rating of “Hold” and an average target price of $21.83.
In other news, Director Thomas E. Pardun sold 16,575 shares of the stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $22.15, for a total transaction of $367,136.25. Following the transaction, the director now owns 82,827 shares in the company, valued at approximately $1,834,618.05. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Connie H. Kwong sold 2,093 shares of the stock in a transaction on Friday, February 8th. The stock was sold at an average price of $21.70, for a total transaction of $45,418.10. Following the transaction, the insider now owns 9,161 shares in the company, valued at approximately $198,793.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 87,818 shares of company stock worth $2,077,341. 11.47% of the stock is currently owned by company insiders.
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MaxLinear, Inc provides radio-frequency (RF), high-performance analog, and mixed-signal communications systems-on-chip solutions (SoCs) for the connected home, wired and wireless infrastructure, and industrial and multi-market applications worldwide. The company offers range of semiconductor products, such as RF receivers and RF receiver SoCs, wireless infrastructure backhaul RF receivers and modem SoCs, laser modulator drivers, transimpedance amplifiers, clock and data recovery circuits, interface solutions, power management products, and data encryption and compression products.
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