MaxLinear (NASDAQ:MXL) Shares Gap Down – What’s Next?

MaxLinear, Inc (NASDAQ:MXL)’s share price gapped down before the market opened on Friday . The stock had previously closed at $95.80, but opened at $92.31. MaxLinear shares last traded at $92.59, with a volume of 218,648 shares traded.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MXL shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $40.00 price target on shares of MaxLinear in a research report on Friday, April 24th. Benchmark started coverage on shares of MaxLinear in a report on Wednesday, May 27th. They set a “buy” rating and a $125.00 price objective for the company. Stifel Nicolaus upped their target price on shares of MaxLinear from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Wall Street Zen raised shares of MaxLinear from a “hold” rating to a “buy” rating in a research report on Sunday, July 5th. Finally, Roth Capital raised shares of MaxLinear from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $65.50.

MaxLinear Trading Down 4.8%

The stock has a market cap of $8.17 billion, a price-to-earnings ratio of -60.12 and a beta of 3.91. The business has a 50-day simple moving average of $90.71 and a two-hundred day simple moving average of $45.01. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.12 and a current ratio of 1.70.

MaxLinear (NASDAQ:MXL) last released its 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. MaxLinear had a negative return on equity of 2.33% and a negative net margin of 25.96%.The business had revenue of $137.19 million for the quarter, compared to analyst estimates of $137.15 million. During the same quarter in the prior year, the company posted ($0.05) earnings per share. MaxLinear’s revenue was up 43.0% on a year-over-year basis. As a group, research analysts forecast that MaxLinear, Inc will post 0.52 EPS for the current year.

Insider Activity at MaxLinear

In other MaxLinear 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 completion of the sale, the insider owned 13,947 shares of the company’s stock, valued at $1,352,301.12. This trade represents a 71.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Thomas E. Pardun sold 11,000 shares of MaxLinear stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $105.00, for a total transaction of $1,155,000.00. Following the transaction, the director directly owned 55,252 shares of the company’s stock, valued at approximately $5,801,460. This trade represents a 16.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 65,168 shares of company stock valued at $5,559,358 over the last quarter. 7.70% of the stock is currently owned by corporate insiders.

Institutional Trading of MaxLinear

A number of hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC grew its stake in MaxLinear by 161.7% in the 4th quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 875 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in MaxLinear by 103.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 726 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in MaxLinear during the fourth quarter worth approximately $25,000. International Assets Investment Management LLC bought a new stake in shares of MaxLinear during the fourth quarter worth approximately $27,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of MaxLinear by 16.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 217 shares during the period. Institutional investors and hedge funds own 90.79% of the company’s stock.

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.