MaxLinear (NASDAQ:MXL) Stock Price Down 7.1% – Should You Sell?

MaxLinear, Inc (NASDAQ:MXL) fell 7.1% on Thursday. The stock traded as low as $100.33 and last traded at $99.6950. Approximately 1,217,464 shares traded hands during trading, a decline of 61% from the average session volume of 3,098,906 shares. The stock had previously closed at $107.36.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on MXL shares. Morgan Stanley set a $125.00 target price on MaxLinear in a report on Monday, September 14th. Roth Capital raised their price objective on shares of MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Wall Street Zen raised shares of MaxLinear from a “hold” rating to a “buy” rating in a research report on Sunday, July 26th. Wells Fargo & Company upped their target price on shares of MaxLinear from $42.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, July 20th. Finally, Susquehanna increased their price target on shares of MaxLinear from $45.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, MaxLinear presently has an average rating of “Hold” and an average target price of $88.64.

MaxLinear Stock Down 10.3%

The business has a 50 day moving average of $75.29 and a 200 day moving average of $71.12. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.15. The firm has a market capitalization of $8.73 billion, a price-to-earnings ratio of -81.56 and a beta of 3.93.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The firm 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%. The business’s revenue was up 55.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.02 earnings per share. On average, equities analysts anticipate that MaxLinear, Inc will post 0.78 EPS for the current 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its position 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 in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in MaxLinear by 16.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,678 shares of the semiconductor company’s stock valued at $215,000 after acquiring an additional 232 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in MaxLinear in the 2nd quarter valued at $32,000. GAMMA Investing LLC boosted its stake in MaxLinear by 5.6% in the 2nd quarter. GAMMA Investing LLC now owns 6,152 shares of the semiconductor company’s stock worth $788,000 after purchasing an additional 326 shares during the period. Finally, Carolina Wealth Advisors LLC acquired a new position in MaxLinear in the 2nd quarter worth $47,000. Institutional investors own 90.79% of the company’s stock.

About MaxLinear

MaxLinear, Inc is a fabless semiconductor company that develops high-performance analog and mixed-signal integrated circuits for communications and connectivity applications. Its products are designed to help equipment manufacturers process, transmit and manage data across broadband, wired and wireless infrastructure, data center, and industrial systems.

The company’s product portfolio includes broadband access and connectivity solutions, RF and microwave components, Ethernet and high-speed interconnect products, optical networking technologies, and power-management devices.