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

MaxLinear, Inc (NASDAQ:MXL) gapped down before the market opened on Thursday. The stock had previously closed at $59.95, but opened at $55.45. MaxLinear shares last traded at $57.0830, with a volume of 461,025 shares trading hands.

Analyst Ratings Changes

A number of brokerages have weighed in on MXL. Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a report on Thursday, October 15th. Susquehanna set a $70.00 price target on MaxLinear in a research report on Friday, October 23rd. Morgan Stanley set a $125.00 price target on MaxLinear in a research note on Monday, September 14th. Needham & Company LLC raised their price objective on MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Finally, Zacks Research upgraded MaxLinear from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, MaxLinear currently has an average rating of “Moderate Buy” and an average target price of $94.30.

MaxLinear Stock Down 1.5%

The company’s 50-day moving average is $76.07 and its 200 day moving average is $60.83. The company has a market capitalization of $5.37 billion, a PE ratio of -159.01 and a beta of 3.97. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.22.

MaxLinear (NASDAQ:MXL) last issued its earnings results on Thursday, October 22nd. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.06. The business had revenue of $218.06 million during the quarter, compared to analysts’ expectations of $214.95 million. MaxLinear had a negative net margin of 4.45% and a positive return on equity of 12.89%. The business’s revenue for the quarter was up 72.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.14 earnings per share. As a group, analysts anticipate that MaxLinear, Inc will post 1.10 EPS for the current year.

Insider Buying and Selling at MaxLinear

In related news, CEO Kishore Seendripu sold 351,454 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $85.95, for a total transaction of $30,207,471.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On MaxLinear

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its stake in MaxLinear by 0.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 50,881 shares of the semiconductor company’s stock valued at $4,687,000 after purchasing an additional 181 shares during the last quarter. Hantz Financial Services Inc. raised its stake in shares of MaxLinear by 16.2% in the third quarter. Hantz Financial Services Inc. now owns 1,533 shares of the semiconductor company’s stock worth $138,000 after purchasing an additional 214 shares during the last quarter. EverSource Wealth Advisors LLC lifted 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 valued at $27,000 after purchasing an additional 217 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of MaxLinear by 16.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,678 shares of the semiconductor company’s stock valued at $215,000 after purchasing an additional 232 shares in the last quarter. Finally, Carolina Wealth Advisors LLC lifted its holdings in shares of MaxLinear by 65.0% during the third quarter. Carolina Wealth Advisors LLC now owns 612 shares of the semiconductor company’s stock valued at $55,000 after purchasing an additional 241 shares in the last quarter. 90.79% of the stock is owned by institutional investors.

MaxLinear Company Profile

MaxLinear, Inc. is a fabless semiconductor company that designs radio-frequency, analog and mixed-signal components, as well as system-on-chip products. Its technologies are used to move and process data in broadband, wireless, wired-networking and infrastructure applications. The company’s products support equipment such as broadband access devices, Wi-Fi systems, Ethernet and optical networking equipment, and wireless infrastructure. MaxLinear sells to customers around the world, including communications equipment manufacturers and other technology companies.