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

Truvestments Capital LLC bought a new position in shares of MaxLinear, Inc. (NASDAQ:MXL) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,890 shares of the semiconductor company’s stock, valued at approximately $42,000.

A number of other institutional investors also recently bought and sold shares of MXL. Innealta Capital LLC purchased a new stake in shares of MaxLinear in the 2nd quarter valued at approximately $30,000. International Assets Investment Management LLC purchased a new stake in shares of MaxLinear in the 2nd quarter valued at approximately $31,000. GAMMA Investing LLC raised its stake in shares of 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 acquiring an additional 2,093 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of MaxLinear in the 2nd quarter valued at approximately $56,000. Finally, CWM LLC raised its stake in shares of MaxLinear by 321.3% in the 3rd quarter. CWM LLC now owns 5,793 shares of the semiconductor company’s stock valued at $84,000 after acquiring an additional 4,418 shares during the period. 90.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MXL shares. Craig Hallum cut 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. Susquehanna downgraded shares of MaxLinear from a “positive” rating to a “neutral” rating and cut their target price for the stock from $26.00 to $15.00 in a research note on Tuesday, October 1st. Benchmark reaffirmed a “buy” rating and set a $22.00 target price on shares of MaxLinear in a research note on Thursday, October 24th. Wells Fargo & Company started coverage on shares of MaxLinear in a research note on Friday, November 22nd. They set an “equal weight” rating and a $14.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, MaxLinear presently has an average rating of “Hold” and an average target price of $22.29.

MaxLinear Trading Down 2.6 %

NASDAQ MXL opened at $14.55 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.95 and a debt-to-equity ratio of 0.22. MaxLinear, Inc. has a 52 week low of $11.08 and a 52 week high of $26.59. The stock has a market capitalization of $1.23 billion, a PE ratio of -5.35 and a beta of 1.85. The firm has a 50 day moving average of $14.44 and a two-hundred day moving average of $16.16.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $81.10 million for the quarter, compared to analyst estimates of $80.40 million. During the same quarter last year, the firm earned ($0.02) EPS. The company’s revenue was down 40.2% on a year-over-year basis. As a group, research analysts expect that MaxLinear, Inc. will post -1.66 EPS for the current fiscal year.

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.