Wedge Capital Management L L P NC Purchases Shares of 59,539 MaxLinear, Inc. (NYSE:MXL)

Wedge Capital Management L L P NC purchased a new stake in shares of MaxLinear, Inc. (NYSE:MXL) during the fourth quarter, Holdings Channel.com reports. The firm purchased 59,539 shares of the semiconductor company’s stock, valued at approximately $1,415,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Jennison Associates LLC grew its position in MaxLinear by 20.6% during the fourth quarter. Jennison Associates LLC now owns 519,305 shares of the semiconductor company’s stock valued at $12,344,000 after acquiring an additional 88,616 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of MaxLinear by 2,412.2% in the fourth quarter. Federated Hermes Inc. now owns 162,916 shares of the semiconductor company’s stock worth $3,873,000 after purchasing an additional 156,431 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of MaxLinear by 28.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,431 shares of the semiconductor company’s stock worth $486,000 after purchasing an additional 4,525 shares during the last quarter. Everence Capital Management Inc. bought a new position in shares of MaxLinear in the fourth quarter worth approximately $205,000. Finally, Louisiana State Employees Retirement System bought a new position in shares of MaxLinear in the fourth quarter worth approximately $882,000. 90.79% of the stock is currently owned by institutional investors.

MaxLinear Price Performance

MaxLinear stock opened at $20.68 on Friday. The business has a 50-day simple moving average of $19.89 and a two-hundred day simple moving average of $19.95. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.75 and a current ratio of 2.20. MaxLinear, Inc. has a 52-week low of $13.43 and a 52-week high of $35.09.

MaxLinear (NYSE:MXL) last announced its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.02. The company had revenue of $95.27 million during the quarter, compared to the consensus estimate of $94.99 million. MaxLinear had a negative return on equity of 4.63% and a negative net margin of 28.70%. On average, sell-side analysts predict that MaxLinear, Inc. will post -0.8 earnings per share for the current year.

Wall Street Analyst Weigh In

MXL has been the topic of several recent analyst reports. Wells Fargo & Company cut shares of MaxLinear from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $35.00 to $25.00 in a report on Wednesday, January 3rd. Needham & Company LLC restated a “buy” rating and issued a $25.00 target price on shares of MaxLinear in a report on Thursday. Northland Securities upgraded shares of MaxLinear from a “market perform” rating to an “outperform” rating and set a $30.00 price target on the stock in a report on Thursday, April 4th. StockNews.com cut shares of MaxLinear from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Benchmark reiterated a “buy” rating and issued a $28.00 price target on shares of MaxLinear in a report on Thursday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $26.09.

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.