Kendall Capital Management Reduces Stock Position in MaxLinear, Inc. (NASDAQ:MXL)

Kendall Capital Management lessened its holdings in MaxLinear, Inc. (NASDAQ:MXL) by 11.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,300 shares of the semiconductor company’s stock after selling 1,875 shares during the quarter. Kendall Capital Management’s holdings in MaxLinear were worth $283,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of MXL. State Street Corp grew its holdings in shares of MaxLinear by 5.1% during the third quarter. State Street Corp now owns 4,123,419 shares of the semiconductor company’s stock worth $59,707,000 after purchasing an additional 198,791 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of MaxLinear by 0.4% during the third quarter. Geode Capital Management LLC now owns 1,805,722 shares of the semiconductor company’s stock worth $26,152,000 after purchasing an additional 6,420 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in shares of MaxLinear by 10.0% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,268,857 shares of the semiconductor company’s stock worth $25,098,000 after purchasing an additional 115,867 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of MaxLinear by 339.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,250,769 shares of the semiconductor company’s stock worth $24,740,000 after purchasing an additional 966,468 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of MaxLinear by 36.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,089,065 shares of the semiconductor company’s stock worth $15,770,000 after purchasing an additional 291,874 shares during the last quarter. Hedge funds and other institutional investors own 90.79% of the company’s stock.

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 transaction of $651,200.00. Following the completion of the sale, the insider now directly owns 365,868 shares in the company, valued at approximately $7,445,413.80. This trade represents a 8.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.60% of the stock is owned by insiders.

MaxLinear Price Performance

Shares of NASDAQ:MXL opened at $12.63 on Monday. 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 company has a market cap of $1.07 billion, a P/E ratio of -4.31 and a beta of 1.76. MaxLinear, Inc. has a 52 week low of $11.08 and a 52 week high of $26.59. The company has a 50-day moving average price of $18.50 and a 200 day moving average price of $16.43.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings data 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 net margin of 68.01% and a negative return on equity of 21.94%. Research analysts predict that MaxLinear, Inc. will post -0.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.