New York State Teachers Retirement System Sells 11,708 Shares of MaxLinear, Inc. (NYSE:MXL)

New York State Teachers Retirement System decreased its holdings in MaxLinear, Inc. (NYSE:MXL) by 15.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 62,637 shares of the semiconductor company’s stock after selling 11,708 shares during the quarter. New York State Teachers Retirement System owned 0.08% of MaxLinear worth $1,489,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Invesco Ltd. boosted its stake in MaxLinear by 97.1% in the 3rd quarter. Invesco Ltd. now owns 3,482,949 shares of the semiconductor company’s stock valued at $77,496,000 after buying an additional 1,716,026 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of MaxLinear by 12.6% in the 3rd quarter. Vanguard Group Inc. now owns 10,683,038 shares of the semiconductor company’s stock valued at $237,698,000 after purchasing an additional 1,199,257 shares in the last quarter. BlackRock Inc. grew its holdings in shares of MaxLinear by 6.8% in the 1st 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 during the last quarter. Norges Bank acquired a new stake in shares of MaxLinear during the 4th quarter worth about $24,371,000. Finally, Jacobs Levy Equity Management Inc. grew its stake in 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. 90.79% of the stock is owned by institutional investors.

MaxLinear Trading Down 4.0 %

Shares of MaxLinear stock opened at $20.56 on Thursday. MaxLinear, Inc. has a 12-month low of $13.43 and a 12-month high of $35.09. The company has a quick ratio of 1.75, a current ratio of 2.20 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $19.76 and its 200-day moving average is $20.00. The stock has a market cap of $1.68 billion, a P/E ratio of -23.10 and a beta of 1.98.

MaxLinear (NYSE:MXL) last issued its earnings results on Wednesday, January 31st. The semiconductor company reported ($0.17) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.17). The business had revenue of $125.35 million during the quarter, compared to the consensus estimate of $125.06 million. MaxLinear had a negative net margin of 10.55% and a positive return on equity of 4.77%. Equities research analysts predict that MaxLinear, Inc. will post -0.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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