MaxLinear (NASDAQ:MXL) Shares Gap Down – Should You Sell?

Shares of MaxLinear, Inc (NASDAQ:MXL) gapped down prior to trading on Monday . The stock had previously closed at $74.57, but opened at $67.52. MaxLinear shares last traded at $70.25, with a volume of 551,432 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MXL. Northland Securities set a $110.00 target price on shares of MaxLinear in a report on Wednesday, June 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a research note on Friday, July 17th. Wall Street Zen upgraded shares of MaxLinear from a “hold” rating to a “buy” rating in a research report on Sunday, July 26th. Roth Capital boosted their price target on shares of MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, Benchmark began coverage on shares of MaxLinear in a research note on Wednesday, May 27th. They set a “buy” rating and a $125.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $88.64.

MaxLinear Stock Performance

The stock has a market cap of $6.04 billion, a PE ratio of -56.02 and a beta of 3.93. The company has a quick ratio of 1.15, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. The stock has a 50-day moving average of $72.81 and a 200 day moving average of $62.10.

MaxLinear (NASDAQ:MXL) last issued its earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. MaxLinear had a positive return on equity of 2.24% and a negative net margin of 18.24%.The company had revenue of $168.85 million during the quarter, compared to analysts’ expectations of $164.64 million. During the same period in the prior year, the business earned $0.02 EPS. The firm’s quarterly revenue was up 55.2% on a year-over-year basis. Equities analysts predict that MaxLinear, Inc will post 0.78 EPS for the current fiscal year.

Insider Buying and Selling at MaxLinear

In related news, CEO Kishore Seendripu sold 351,454 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $85.95, for a total value of $30,207,471.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On MaxLinear

Several institutional investors and hedge funds have recently bought and sold shares of MXL. Larson Financial Group LLC increased 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 buying an additional 875 shares during the last quarter. Smartleaf Asset Management LLC increased its stake 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. purchased a new stake in MaxLinear in the fourth quarter valued at $25,000. International Assets Investment Management LLC purchased a new stake in MaxLinear in the fourth quarter valued at $27,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of MaxLinear by 16.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 217 shares during the last quarter. 90.79% of the stock is currently owned by institutional investors and hedge funds.

MaxLinear Company Profile

MaxLinear, Inc is a fabless semiconductor company that designs and develops high-performance analog and mixed-signal integrated circuits. Its products are used in broadband communications, wired and wireless infrastructure, data center, networking, and industrial applications.

The company’s portfolio includes solutions for broadband access and connectivity, including cable and fiber-optic infrastructure, Ethernet and high-speed interconnects, optical communications, power management, interface products, and embedded processors.