New York State Teachers Retirement System Cuts Position in MaxLinear, Inc. (NASDAQ:MXL)

New York State Teachers Retirement System lessened its holdings in MaxLinear, Inc. (NASDAQ:MXL) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 61,037 shares of the semiconductor company’s stock after selling 800 shares during the quarter. New York State Teachers Retirement System’s holdings in MaxLinear were worth $1,207,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MXL. CWM LLC grew its holdings in MaxLinear by 321.3% in the third quarter. CWM LLC now owns 5,793 shares of the semiconductor company’s stock worth $84,000 after purchasing an additional 4,418 shares during the period. International Assets Investment Management LLC grew its holdings in shares of MaxLinear by 1,348.0% during the third quarter. International Assets Investment Management LLC now owns 22,632 shares of the semiconductor company’s stock valued at $328,000 after buying an additional 21,069 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of MaxLinear by 2.0% during the third quarter. Assenagon Asset Management S.A. now owns 284,301 shares of the semiconductor company’s stock valued at $4,117,000 after buying an additional 5,705 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of MaxLinear by 20.3% during the third quarter. Nisa Investment Advisors LLC now owns 7,761 shares of the semiconductor company’s stock valued at $112,000 after buying an additional 1,308 shares during the last quarter. Finally, Entropy Technologies LP purchased a new stake in shares of MaxLinear during the third quarter valued at approximately $221,000. Hedge funds and other institutional investors own 90.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of MaxLinear from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Benchmark reiterated a “buy” rating and set a $28.00 price target on shares of MaxLinear in a report on Thursday, January 30th. Northland Securities increased their price objective on shares of MaxLinear from $25.00 to $27.50 and gave the company an “outperform” rating in a research report on Monday, January 6th. Susquehanna lowered their price objective on shares of MaxLinear from $25.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Finally, Needham & Company LLC restated a “hold” rating on shares of MaxLinear in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $25.50.

Insider Activity at MaxLinear

In other news, insider Steven G. Litchfield sold 32,000 shares of MaxLinear stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $20.35, for a total value of $651,200.00. Following the transaction, the insider now owns 365,868 shares of the company’s stock, valued at $7,445,413.80. The trade was a 8.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Connie H. Kwong sold 5,000 shares of MaxLinear stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $18.61, for a total transaction of $93,050.00. Following the completion of the transaction, the insider now directly owns 49,147 shares in the company, valued at approximately $914,625.67. The trade was a 9.23 % decrease in their position. The disclosure for this sale can be found here. 8.60% of the stock is currently owned by company insiders.

MaxLinear Stock Performance

Shares of NASDAQ:MXL opened at $16.60 on Monday. MaxLinear, Inc. has a 52 week low of $11.08 and a 52 week high of $26.59. The company has a quick ratio of 1.28, a current ratio of 1.77 and a debt-to-equity ratio of 0.24. The firm has a fifty day simple moving average of $19.71 and a two-hundred day simple moving average of $16.33. The stock has a market capitalization of $1.40 billion, a P/E ratio of -5.67 and a beta of 1.77.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.14). MaxLinear had a negative return on equity of 21.94% and a negative net margin of 68.01%. On average, analysts expect that MaxLinear, Inc. will post -0.37 earnings per share for the current fiscal 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.