MaxLinear (NASDAQ:MXL) Shares Gap Down – Time to Sell?

Shares of MaxLinear, Inc (NASDAQ:MXL) gapped down before the market opened on Monday . The stock had previously closed at $66.61, but opened at $63.92. MaxLinear shares last traded at $61.8930, with a volume of 482,798 shares traded.

Analyst Ratings Changes

MXL has been the topic of a number of research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a report on Friday, July 17th. Loop Capital raised shares of MaxLinear from a “hold” rating to a “buy” rating and upped their price objective for the stock from $17.00 to $75.00 in a report on Wednesday, April 29th. Northland Securities set a $110.00 target price on shares of MaxLinear in a research report on Wednesday, June 3rd. Susquehanna raised their target price on shares of MaxLinear from $45.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Finally, Benchmark initiated coverage on shares of MaxLinear in a research note on Wednesday, May 27th. They set a “buy” rating and a $125.00 target price on the stock. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $85.00.

MaxLinear Trading Down 5.1%

The business has a 50 day simple moving average of $82.17 and a 200-day simple moving average of $57.29. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.15 and a current ratio of 1.78. The stock has a market capitalization of $5.73 billion, a P/E ratio of -53.20 and a beta of 3.96.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings data 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 positive return on equity of 2.24% and a negative net margin of 18.24%.The company’s quarterly revenue was up 55.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.02 EPS. On average, analysts predict that MaxLinear, Inc will post 0.78 EPS for the current year.

Insider Activity

In other news, CEO Kishore Seendripu sold 351,454 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $85.95, for a total transaction of $30,207,471.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas E. Pardun sold 11,000 shares of MaxLinear stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $105.00, for a total transaction of $1,155,000.00. Following the completion of the transaction, the director directly owned 55,252 shares in the company, valued at $5,801,460. This represents a 16.60% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 602,454 shares of company stock worth $51,589,671. 7.70% of the stock is owned by company insiders.

Institutional Trading of MaxLinear

A number of large investors have recently added to or reduced their stakes in MXL. Royal Bank of Canada increased its holdings in shares of MaxLinear by 3.1% in the first quarter. Royal Bank of Canada now owns 72,664 shares of the semiconductor company’s stock valued at $789,000 after buying an additional 2,204 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of MaxLinear by 56.0% during the 1st quarter. AQR Capital Management LLC now owns 296,297 shares of the semiconductor company’s stock worth $3,218,000 after acquiring an additional 106,355 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of MaxLinear by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,437 shares of the semiconductor company’s stock worth $515,000 after acquiring an additional 2,043 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of MaxLinear by 0.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 535,230 shares of the semiconductor company’s stock worth $5,813,000 after acquiring an additional 2,039 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of MaxLinear by 23.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 182,362 shares of the semiconductor company’s stock worth $1,980,000 after acquiring an additional 35,152 shares during the last quarter. 90.79% of the stock is currently owned by institutional investors.

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.