Boothbay Fund Management LLC Cuts Position in MaxLinear, Inc. (NYSE:MXL)

Posted by on Mar 4th, 2023

Boothbay Fund Management LLC cut its stake in MaxLinear, Inc. (NYSE:MXL – Get Rating) by 19.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,374 shares of the semiconductor company’s stock after selling 2,078 shares during the quarter. Boothbay Fund Management LLC’s holdings in MaxLinear were worth $273,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. PDT Partners LLC increased its holdings in shares of MaxLinear by 177.5% in the 2nd quarter. PDT Partners LLC now owns 22,998 shares of the semiconductor company’s stock valued at $781,000 after acquiring an additional 14,710 shares during the period. Paradigm Capital Management Inc. NY increased its holdings in shares of MaxLinear by 13.0% in the 3rd quarter. Paradigm Capital Management Inc. NY now owns 1,222,200 shares of the semiconductor company’s stock valued at $39,868,000 after acquiring an additional 140,300 shares during the period. EFG Asset Management North America Corp. purchased a new position in shares of MaxLinear in the 3rd quarter valued at $605,000. Comerica Bank increased its holdings in shares of MaxLinear by 1.1% in the 3rd quarter. Comerica Bank now owns 244,993 shares of the semiconductor company’s stock valued at $7,796,000 after acquiring an additional 2,580 shares during the period. Finally, AlphaCrest Capital Management LLC increased its holdings in shares of MaxLinear by 416.0% in the 2nd quarter. AlphaCrest Capital Management LLC now owns 112,958 shares of the semiconductor company’s stock valued at $3,838,000 after acquiring an additional 91,065 shares during the period. 90.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MXL shares. Needham & Company LLC lowered their price objective on MaxLinear from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday, February 2nd. Benchmark lowered their price objective on MaxLinear from $50.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, February 3rd. BNP Paribas started coverage on MaxLinear in a research report on Tuesday. They issued an “underperform” rating and a $30.00 price objective for the company. Finally, Susquehanna raised their price objective on MaxLinear from $46.00 to $48.00 and gave the stock a “positive” rating in a research report on Thursday, February 2nd. One analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $46.22.

Insiders Place Their Bets

In other MaxLinear news, insider James Lougheed sold 115,944 shares of MaxLinear stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $40.74, for a total transaction of $4,723,558.56. Following the completion of the sale, the insider now owns 3,921 shares of the company’s stock, valued at approximately $159,741.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other MaxLinear news, insider James Lougheed sold 115,944 shares of MaxLinear stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $40.74, for a total transaction of $4,723,558.56. Following the completion of the transaction, the insider now owns 3,921 shares in the company, valued at approximately $159,741.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael Bollesen sold 5,757 shares of MaxLinear stock in a transaction dated Wednesday, December 14th. The shares were sold at an average price of $38.93, for a total value of $224,120.01. Following the transaction, the vice president now owns 81,474 shares of the company’s stock, valued at approximately $3,171,782.82. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by insiders.

MaxLinear Stock Performance

Shares of MXL opened at $34.96 on Friday. The stock has a 50-day moving average of $36.66 and a two-hundred day moving average of $35.41. MaxLinear, Inc. has a one year low of $29.27 and a one year high of $63.89. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.18 and a current ratio of 1.65. The stock has a market cap of $2.75 billion, a P/E ratio of 22.55 and a beta of 1.92.

MaxLinear Company Profile

(Get Rating)

MaxLinear, Inc engages in the provision of communications systems-on-chip, or SoC, solutions used in broadband, mobile and wireline infrastructure, data center, and industrial and multi-market applications. Its products include cable broadband modems and gateways, wireline connectivity devices, radio frequency transceivers, fiber-optic modules, video set-top boxes and gateways, hybrid analog and digital televisions, direct broadcast satellite outdoor and indoor units, and power management and interface products.

Featured Stories

Institutional Ownership by Quarter for MaxLinear (NYSE:MXL)

Receive News & Ratings for MaxLinear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MaxLinear and related companies with MarketBeat.com's FREE daily email newsletter.