Jennison Associates LLC Boosts Holdings in MaxLinear, Inc. (NYSE:MXL)

Jennison Associates LLC grew its stake in MaxLinear, Inc. (NYSE:MXL) by 20.6% during the 4th quarter, Holdings Channel reports. The firm owned 519,305 shares of the semiconductor company’s stock after purchasing an additional 88,616 shares during the quarter. Jennison Associates LLC’s holdings in MaxLinear were worth $12,344,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Acadian Asset Management LLC lifted its holdings in MaxLinear by 354.9% in the 3rd quarter. Acadian Asset Management LLC now owns 39,519 shares of the semiconductor company’s stock valued at $876,000 after purchasing an additional 30,832 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of MaxLinear by 423.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 657,157 shares of the semiconductor company’s stock worth $14,622,000 after buying an additional 531,529 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in MaxLinear by 5.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 632,251 shares of the semiconductor company’s stock worth $14,068,000 after acquiring an additional 31,589 shares during the last quarter. GSA Capital Partners LLP grew its stake in MaxLinear by 180.9% during the 3rd quarter. GSA Capital Partners LLP now owns 82,324 shares of the semiconductor company’s stock valued at $1,832,000 after acquiring an additional 53,013 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in MaxLinear by 111.2% in the 3rd quarter. Hsbc Holdings PLC now owns 113,497 shares of the semiconductor company’s stock valued at $2,534,000 after acquiring an additional 59,760 shares during the last quarter. Hedge funds and other institutional investors own 90.79% of the company’s stock.

MaxLinear Price Performance

Shares of NYSE MXL opened at $20.68 on Friday. MaxLinear, Inc. has a 12-month low of $13.43 and a 12-month high of $35.09. The company has a current ratio of 2.20, a quick ratio of 1.75 and a debt-to-equity ratio of 0.18. The business’s fifty day simple moving average is $19.89 and its 200-day simple moving average is $19.95.

MaxLinear (NYSE:MXL) last announced its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.02. MaxLinear had a negative return on equity of 4.63% and a negative net margin of 28.70%. The business had revenue of $95.27 million during the quarter, compared to analysts’ expectations of $94.99 million. As a group, equities research analysts expect that MaxLinear, Inc. will post -0.8 EPS for the current year.

Analyst Upgrades and Downgrades

MXL has been the topic of several recent research reports. Northland Securities upgraded MaxLinear from a “market perform” rating to an “outperform” rating and set a $30.00 target price on the stock in a report on Thursday, April 4th. Benchmark restated a “buy” rating and issued a $28.00 target price on shares of MaxLinear in a report on Thursday. Wells Fargo & Company lowered MaxLinear from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $35.00 to $25.00 in a report on Wednesday, January 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 target price on shares of MaxLinear in a research note on Thursday. Finally, StockNews.com lowered shares of MaxLinear from a “hold” rating to a “sell” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $26.09.

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.