MaxLinear (NASDAQ:MXL) Stock Price Down 4.6% – Here’s Why

MaxLinear, Inc (NASDAQ:MXL)’s stock price was down 4.6% during mid-day trading on Monday . The company traded as low as $67.11 and last traded at $68.33. Approximately 987,134 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 3,208,914 shares. The stock had previously closed at $71.59.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a research note on Friday, July 17th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $40.00 target price on shares of MaxLinear in a report on Friday, April 24th. Needham & Company LLC increased their target price on shares of MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Benchmark initiated coverage on shares of MaxLinear in a research note on Wednesday, May 27th. They issued a “buy” rating and a $125.00 price target on the stock. Finally, Stifel Nicolaus boosted their price target on shares of MaxLinear from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $85.00.

MaxLinear Price Performance

The stock has a market cap of $5.28 billion, a PE ratio of -49.53 and a beta of 3.91. The stock’s fifty day moving average is $88.99 and its 200-day moving average is $50.71. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.15.

MaxLinear (NASDAQ:MXL) last issued its earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The company had revenue of $168.85 million for the quarter, compared to the consensus estimate of $164.64 million. MaxLinear had a negative net margin of 18.24% and a positive return on equity of 2.24%. MaxLinear’s quarterly revenue was up 55.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.02 earnings per share. As a group, equities analysts anticipate that MaxLinear, Inc will post 0.5 EPS for the current year.

Insider Activity at MaxLinear

In other news, insider Connie H. Kwong sold 35,000 shares of MaxLinear stock in a transaction that occurred on Friday, May 8th. The shares were 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 of the company’s stock, valued at approximately $1,352,301.12. The trade was a 71.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas E. Pardun sold 11,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $105.00, for a total value of $1,155,000.00. Following the completion of the transaction, the director owned 55,252 shares in the company, valued at $5,801,460. This represents a 16.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 7.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MaxLinear

Large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its position in shares of MaxLinear by 16.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 217 shares during the last quarter. GAMMA Investing LLC lifted its position in MaxLinear by 5.6% in the second quarter. GAMMA Investing LLC now owns 6,152 shares of the semiconductor company’s stock valued at $788,000 after buying an additional 326 shares during the last quarter. Carolina Wealth Advisors LLC purchased a new position in MaxLinear during the second quarter worth about $47,000. Captrust Financial Advisors boosted its stake in MaxLinear by 4.3% during the fourth quarter. Captrust Financial Advisors now owns 14,074 shares of the semiconductor company’s stock worth $245,000 after buying an additional 577 shares during the period. Finally, State of Alaska Department of Revenue increased its position in shares of MaxLinear by 1.4% during the fourth quarter. State of Alaska Department of Revenue now owns 45,677 shares of the semiconductor company’s stock valued at $795,000 after acquiring an additional 632 shares during the last quarter. Institutional investors and hedge funds own 90.79% of the company’s stock.

MaxLinear Company Profile

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.