Orion Portfolio Solutions LLC Acquires 8,495 Shares of MaxLinear, Inc. (NASDAQ:MXL)

Orion Portfolio Solutions LLC boosted its holdings in MaxLinear, Inc. (NASDAQ:MXL) by 35.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,259 shares of the semiconductor company’s stock after acquiring an additional 8,495 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in MaxLinear were worth $467,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. State Street Corp lifted its position in MaxLinear by 5.1% in the 3rd quarter. State Street Corp now owns 4,123,419 shares of the semiconductor company’s stock valued at $59,707,000 after acquiring an additional 198,791 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of MaxLinear by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,535,449 shares of the semiconductor company’s stock valued at $51,064,000 after buying an additional 128,585 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of MaxLinear by 10.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,071,183 shares of the semiconductor company’s stock valued at $41,714,000 after buying an additional 192,021 shares during the period. Hood River Capital Management LLC bought a new position in shares of MaxLinear during the 2nd quarter valued at $24,184,000. Finally, Vaughan Nelson Investment Management L.P. bought a new position in shares of MaxLinear during the 3rd quarter valued at $16,696,000. 90.79% of the stock is owned by institutional investors.

MaxLinear Trading Down 6.5 %

Shares of MXL stock opened at $19.55 on Wednesday. MaxLinear, Inc. has a 52-week low of $11.08 and a 52-week high of $26.59. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.95. The firm has a market capitalization of $1.65 billion, a PE ratio of -7.19 and a beta of 1.87. The stock has a fifty day simple moving average of $15.53 and a two-hundred day simple moving average of $16.08.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%. The business had revenue of $81.10 million during the quarter, compared to analysts’ expectations of $80.40 million. During the same quarter in the previous year, the company posted ($0.02) EPS. The company’s quarterly revenue was down 40.2% on a year-over-year basis. On average, analysts predict that MaxLinear, Inc. will post -1.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Steven G. Litchfield sold 32,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $20.35, for a total transaction of $651,200.00. Following the completion of the transaction, the insider now owns 365,868 shares in the company, valued at $7,445,413.80. This trade represents a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Connie H. Kwong sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $18.61, for a total value of $93,050.00. Following the transaction, the insider now owns 49,147 shares of the company’s stock, 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. In the last quarter, insiders sold 48,900 shares of company stock worth $927,278. Corporate insiders own 8.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MXL shares. Wells Fargo & Company started coverage on MaxLinear in a report on Friday, November 22nd. They set an “equal weight” rating and a $14.00 price target on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a report on Thursday, October 24th. Benchmark raised their target price on MaxLinear from $22.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Craig Hallum decreased their target price on MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Finally, Susquehanna cut MaxLinear from a “positive” rating to a “neutral” rating and decreased their target price for the stock from $26.00 to $15.00 in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, MaxLinear has an average rating of “Hold” and an average price target of $23.14.

MaxLinear 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.