Cornercap Investment Counsel Inc. Sells 486 Shares of MaxLinear, Inc. (NYSE:MXL)

Cornercap Investment Counsel Inc. decreased its stake in shares of MaxLinear, Inc. (NYSE:MXL) by 1.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 28,988 shares of the semiconductor company’s stock after selling 486 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in MaxLinear were worth $689,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in MXL. Invesco Ltd. boosted its position in shares of MaxLinear by 97.1% during the 3rd quarter. Invesco Ltd. now owns 3,482,949 shares of the semiconductor company’s stock valued at $77,496,000 after acquiring an additional 1,716,026 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of MaxLinear by 12.6% during the third quarter. Vanguard Group Inc. now owns 10,683,038 shares of the semiconductor company’s stock worth $237,698,000 after purchasing an additional 1,199,257 shares in the last quarter. BlackRock Inc. lifted its position in shares of MaxLinear by 6.8% during the first quarter. BlackRock Inc. now owns 13,399,917 shares of the semiconductor company’s stock worth $471,811,000 after purchasing an additional 858,544 shares in the last quarter. Norges Bank acquired a new position in shares of MaxLinear during the fourth quarter worth approximately $24,371,000. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of MaxLinear by 423.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 657,157 shares of the semiconductor company’s stock worth $14,622,000 after buying an additional 531,529 shares during the last quarter. Institutional investors own 90.79% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MXL shares. Northland Securities raised shares of MaxLinear from a “market perform” rating to an “outperform” rating and set a $30.00 price target for the company in a research note on Thursday, April 4th. Needham & Company LLC lowered their target price on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, February 1st. StockNews.com raised shares of MaxLinear from a “sell” rating to a “hold” rating in a research note on Thursday, February 29th. Benchmark upped their target price on shares of MaxLinear from $23.00 to $28.00 and gave the company a “buy” rating in a research note on Monday. Finally, Wells Fargo & Company downgraded shares of MaxLinear from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $35.00 to $25.00 in a research note on Wednesday, January 3rd. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $26.09.

MaxLinear Stock Performance

Shares of MXL opened at $21.63 on Tuesday. MaxLinear, Inc. has a 12 month low of $13.43 and a 12 month high of $35.09. The firm has a fifty day simple moving average of $19.62 and a 200 day simple moving average of $20.00. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of -24.30 and a beta of 1.98. The company has a current ratio of 2.20, a quick ratio of 1.75 and a debt-to-equity ratio of 0.18.

MaxLinear (NYSE:MXL) last announced its quarterly earnings results on Wednesday, January 31st. The semiconductor company reported ($0.17) EPS for the quarter, meeting analysts’ consensus estimates of ($0.17). The firm had revenue of $125.35 million during the quarter, compared to analysts’ expectations of $125.06 million. MaxLinear had a negative net margin of 10.55% and a positive return on equity of 4.77%. Research analysts forecast that MaxLinear, Inc. will post -0.8 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.