MaxLinear (NASDAQ:MXL) Trading Down 10.2% – What’s Next?

MaxLinear, Inc (NASDAQ:MXL)’s share price was down 10.2% during trading on Tuesday . The company traded as low as $92.78 and last traded at $91.8060. Approximately 1,802,074 shares were traded during trading, a decline of 29% from the average daily volume of 2,527,556 shares. The stock had previously closed at $102.27.

Analyst Ratings Changes

A number of brokerages recently commented on MXL. Stifel Nicolaus raised their price objective on shares of MaxLinear from $34.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Roth Mkm upgraded MaxLinear from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Friday, April 24th. Susquehanna reiterated a “neutral” rating and issued a $30.00 price objective on shares of MaxLinear in a research report on Monday, April 20th. Northland Securities set a $55.00 target price on shares of MaxLinear in a research report on Friday, April 24th. Finally, Benchmark began coverage on shares of MaxLinear in a research note on Tuesday. They set a “buy” rating and a $28.00 price target on the stock. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $44.20.

MaxLinear Stock Down 11.7%

The firm’s 50 day moving average is $30.74 and its two-hundred day moving average is $22.03. The stock has a market cap of $8.08 billion, a price-to-earnings ratio of -59.40 and a beta of 3.95. The company has a current ratio of 1.70, a quick ratio of 1.12 and a debt-to-equity ratio of 0.27.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.04. The company had revenue of $137.19 million for the quarter, compared to analysts’ expectations of $137.15 million. MaxLinear had a negative net margin of 25.96% and a negative return on equity of 2.33%. The firm’s revenue for the quarter was up 43.0% compared to the same quarter last year. During the same period last year, the company earned ($0.05) EPS. On average, sell-side analysts predict that MaxLinear, Inc will post 0.52 EPS for the current year.

Insider Activity at MaxLinear

In other news, insider Connie H. Kwong sold 35,000 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $96.96, for a total transaction of $3,393,600.00. Following the sale, the insider owned 13,947 shares in the company, valued at $1,352,301.12. This trade represents a 71.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Steven G. Litchfield sold 20,000 shares of MaxLinear stock in a transaction on Friday, March 6th. The shares were sold at an average price of $15.68, for a total value of $313,600.00. Following the completion of the sale, the insider directly owned 343,435 shares of the company’s stock, valued at approximately $5,385,060.80. This represents a 5.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 99,097 shares of company stock valued at $5,150,815 over the last ninety days. 7.70% of the stock is owned by corporate insiders.

Institutional Trading of MaxLinear

A number of hedge funds have recently added to or reduced their stakes in the business. Larson Financial Group LLC lifted its holdings in shares of MaxLinear by 161.7% during the 4th quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 875 shares during the period. Smartleaf Asset Management LLC grew its holdings in MaxLinear by 103.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 726 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in MaxLinear during the fourth quarter worth approximately $25,000. International Assets Investment Management LLC purchased a new position in MaxLinear during the fourth quarter worth approximately $27,000. Finally, EverSource Wealth Advisors LLC raised its stake in MaxLinear by 97.0% during the third quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 1,039 shares during the period. 90.79% of the stock is owned by institutional investors and hedge funds.

About MaxLinear

MaxLinear, Inc is a provider of radio-frequency (RF), analog, and mixed-signal integrated circuits for broadband communications, data center connectivity, and video infrastructure applications. The company’s product portfolio includes high-performance RF front-end modules, broadband power amplifiers, optical and Ethernet transceivers, and network processors designed to support demanding signal processing requirements.

MaxLinear’s semiconductor solutions are used by cable and satellite television operators, fiber-to-the-home service providers, network equipment manufacturers, and data center operators.