Driehaus Capital Management LLC Makes New Investment in MaxLinear, Inc. (NASDAQ:MXL)

Driehaus Capital Management LLC purchased a new stake in MaxLinear, Inc. (NASDAQ:MXLFree Report) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 640,783 shares of the semiconductor company’s stock, valued at approximately $12,675,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MXL. Aster Capital Management DIFC Ltd acquired a new position in MaxLinear in the 4th quarter worth about $34,000. Pacer Advisors Inc. grew its holdings in shares of MaxLinear by 29.0% during the fourth quarter. Pacer Advisors Inc. now owns 1,968 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 443 shares during the last quarter. Wealthfront Advisers LLC acquired a new position in shares of MaxLinear in the fourth quarter valued at approximately $45,000. R Squared Ltd bought a new position in MaxLinear in the 4th quarter valued at approximately $45,000. Finally, Larson Financial Group LLC boosted its position in MaxLinear by 3,092.0% during the 4th quarter. Larson Financial Group LLC now owns 2,809 shares of the semiconductor company’s stock worth $56,000 after buying an additional 2,721 shares during the period. 90.79% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Ted L. Tewksbury III sold 6,071 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $10.40, for a total value of $63,138.40. Following the completion of the sale, the director now directly owns 74,995 shares of the company’s stock, valued at $779,948. This represents a 7.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 7.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MXL shares. Benchmark reaffirmed a “buy” rating and set a $20.00 price target on shares of MaxLinear in a research note on Thursday, April 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a report on Thursday, January 30th. Susquehanna decreased their price target on MaxLinear from $25.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Wells Fargo & Company lifted their price objective on MaxLinear from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Finally, Roth Capital set a $11.00 target price on shares of MaxLinear and gave the company a “neutral” rating in a research report on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, MaxLinear has a consensus rating of “Hold” and an average target price of $19.06.

View Our Latest Stock Analysis on MaxLinear

MaxLinear Trading Up 1.1 %

Shares of MXL stock opened at $11.34 on Friday. MaxLinear, Inc. has a fifty-two week low of $8.35 and a fifty-two week high of $26.59. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.28 and a current ratio of 1.77. The stock has a 50 day simple moving average of $11.17 and a two-hundred day simple moving average of $15.49. The company has a market cap of $959.75 million, a P/E ratio of -3.87 and a beta of 1.66.

MaxLinear (NASDAQ:MXLGet Free Report) last issued its earnings results on Wednesday, April 23rd. The semiconductor company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). MaxLinear had a negative return on equity of 21.94% and a negative net margin of 68.01%. The business had revenue of $95.93 million during the quarter, compared to analyst estimates of $95.32 million. During the same period in the previous year, the company posted ($0.21) EPS. The firm’s revenue was up .7% compared to the same quarter last year. Research analysts forecast that MaxLinear, Inc. will post -0.37 earnings per share for the current year.

MaxLinear Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for MaxLinear (NASDAQ:MXL)

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