Mirabella Financial Services LLP Invests $551,000 in MaxLinear, Inc. (NASDAQ:MXL)

Mirabella Financial Services LLP purchased a new stake in MaxLinear, Inc. (NASDAQ:MXL) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 38,050 shares of the semiconductor company’s stock, valued at approximately $551,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Innealta Capital LLC purchased a new position in MaxLinear during the 2nd quarter worth $30,000. International Assets Investment Management LLC purchased a new position in MaxLinear during the second quarter worth about $31,000. Truvestments Capital LLC bought a new stake in MaxLinear in the 3rd quarter worth about $42,000. GAMMA Investing LLC increased its stake in MaxLinear by 151.8% in the 3rd quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 2,093 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of MaxLinear during the 2nd quarter worth approximately $56,000. Institutional investors and hedge funds own 90.79% of the company’s stock.

Insider Activity at MaxLinear

In other news, Director Ted L. Tewksbury III sold 5,800 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $15.36, for a total transaction of $89,088.00. Following the completion of the transaction, the director now directly owns 69,717 shares in the company, valued at $1,070,853.12. The trade was a 7.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP William Torgerson sold 6,100 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $15.40, for a total transaction of $93,940.00. Following the completion of the transaction, the vice president now directly owns 179,262 shares in the company, valued at approximately $2,760,634.80. The trade was a 3.29 % decrease in their position. The disclosure for this sale can be found here. 8.60% of the stock is currently owned by corporate insiders.

MaxLinear Stock Performance

NASDAQ MXL opened at $15.87 on Tuesday. The firm has a market cap of $1.34 billion, a P/E ratio of -5.89 and a beta of 1.85. The company has a quick ratio of 1.38, a current ratio of 1.95 and a debt-to-equity ratio of 0.22. The company’s 50 day moving average is $14.40 and its 200-day moving average is $16.21. MaxLinear, Inc. has a 12-month low of $11.08 and a 12-month high of $26.59.

MaxLinear (NASDAQ:MXL) last issued its 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 net margin of 57.37% and a negative return on equity of 19.22%. The business had revenue of $81.10 million for the quarter, compared to the consensus estimate of $80.40 million. During the same period in the previous year, the firm earned ($0.02) EPS. The company’s revenue was down 40.2% compared to the same quarter last year. Sell-side analysts predict that MaxLinear, Inc. will post -1.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MXL. Susquehanna lowered MaxLinear from a “positive” rating to a “neutral” rating and dropped their price target for the stock from $26.00 to $15.00 in a report on Tuesday, October 1st. Wells Fargo & Company assumed coverage on shares of MaxLinear in a report on Friday. They issued an “equal weight” rating and a $14.00 price target on the stock. Benchmark restated a “buy” rating and set a $22.00 price objective on shares of MaxLinear in a report on Thursday, October 24th. Craig Hallum dropped their target price on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Finally, Needham & Company LLC restated a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, MaxLinear currently has a consensus rating of “Hold” and a consensus price target of $22.29.

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.