121,186 Shares in MaxLinear, Inc. (NASDAQ:MXL) Acquired by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. bought a new position in MaxLinear, Inc. (NASDAQ:MXL) during the fourth quarter, Holdings Channel.com reports. The fund bought 121,186 shares of the semiconductor company’s stock, valued at approximately $2,397,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Bayesian Capital Management LP bought a new stake in shares of MaxLinear in the 4th quarter worth approximately $893,000. Algert Global LLC raised its holdings in shares of MaxLinear by 25.7% in the 4th quarter. Algert Global LLC now owns 143,347 shares of the semiconductor company’s stock worth $2,835,000 after purchasing an additional 29,353 shares in the last quarter. Comerica Bank raised its holdings in shares of MaxLinear by 5.4% in the 4th quarter. Comerica Bank now owns 300,943 shares of the semiconductor company’s stock worth $5,953,000 after purchasing an additional 15,284 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in shares of MaxLinear in the 4th quarter worth approximately $25,027,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of MaxLinear by 3,698.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,525,419 shares of the semiconductor company’s stock valued at $30,173,000 after acquiring an additional 1,485,256 shares during the period. 90.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

MaxLinear Stock Up 7.7%

MXL stock opened at $12.24 on Tuesday. MaxLinear, Inc. has a 12-month low of $8.35 and a 12-month high of $26.59. 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 $1.04 billion, a price-to-earnings ratio of -4.18 and a beta of 1.66. The company has a 50 day moving average of $11.15 and a two-hundred day moving average of $15.48.

MaxLinear (NASDAQ:MXL) last released its earnings results on Wednesday, April 23rd. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). MaxLinear had a negative net margin of 68.01% and a negative return on equity of 21.94%. The company had revenue of $95.93 million during the quarter, compared to the consensus estimate of $95.32 million. During the same quarter in the prior year, the firm earned ($0.21) EPS. The company’s revenue was up .7% compared to the same quarter last year. On average, equities analysts anticipate that MaxLinear, Inc. will post -0.37 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Ted L. Tewksbury III sold 6,071 shares of the firm’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $10.40, for a total transaction of $63,138.40. Following the transaction, the director now owns 74,995 shares in the company, valued at approximately $779,948. This trade represents a 7.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.80% of the stock is owned by insiders.

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.