MaxLinear (NASDAQ:MXL) Trading Down 5.4% – Here’s Why

MaxLinear, Inc. (NASDAQ:MXL) shares traded down 5.4% on Thursday . The stock traded as low as $17.93 and last traded at $17.82. 57,072 shares changed hands during trading, a decline of 97% from the average session volume of 2,265,686 shares. The stock had previously closed at $18.84.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MXL. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a research note on Thursday, January 30th. Wells Fargo & Company raised their price target on shares of MaxLinear from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Craig Hallum decreased their price objective on MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Benchmark restated a “buy” rating and issued a $28.00 target price on shares of MaxLinear in a report on Thursday, January 30th. Finally, Susquehanna decreased their price target on MaxLinear from $25.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $25.50.

MaxLinear Price Performance

The stock has a 50-day moving average of $20.11 and a 200 day moving average of $16.21. The company has a current ratio of 1.77, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24.

MaxLinear (NASDAQ:MXL) last announced its earnings results on Wednesday, January 29th. The semiconductor company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.14). MaxLinear had a negative net margin of 68.01% and a negative return on equity of 21.94%. On average, equities research analysts predict that MaxLinear, Inc. will post -0.37 EPS for the current year.

Insiders Place Their Bets

In related news, insider Connie H. Kwong sold 5,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $18.61, for a total value of $93,050.00. Following the sale, the insider now directly owns 49,147 shares in the company, valued at approximately $914,625.67. The trade was a 9.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ted L. Tewksbury III sold 5,800 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $15.36, for a total transaction of $89,088.00. Following the sale, the director now directly owns 69,717 shares in the company, valued at approximately $1,070,853.12. This trade represents a 7.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,800 shares of company stock valued at $833,338. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On MaxLinear

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Pacer Advisors Inc. boosted its position in shares of MaxLinear by 29.0% in the fourth quarter. Pacer Advisors Inc. now owns 1,968 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 443 shares during the period. GAMMA Investing LLC lifted its stake in MaxLinear by 19.1% in the 4th quarter. GAMMA Investing LLC now owns 4,134 shares of the semiconductor company’s stock worth $82,000 after purchasing an additional 662 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in MaxLinear by 20.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 7,761 shares of the semiconductor company’s stock valued at $112,000 after purchasing an additional 1,308 shares during the period. PNC Financial Services Group Inc. grew its position in shares of MaxLinear by 95.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,891 shares of the semiconductor company’s stock valued at $77,000 after purchasing an additional 1,900 shares in the last quarter. Finally, Wealthfront Advisers LLC bought a new position in shares of MaxLinear in the fourth quarter worth $45,000. Institutional investors own 90.79% of the company’s stock.

MaxLinear Company 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.