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 changing hands.

Wall Street Analyst Weigh In

MXL has been the subject of a number of research reports. Morgan Stanley set a $125.00 target price on shares of MaxLinear in a research report on Monday, September 14th. Roth Capital upped their price target on shares of MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Wall Street Zen upgraded shares of MaxLinear from a “hold” rating to a “buy” rating in a research note on Sunday, July 26th. Stifel Nicolaus raised their price objective on shares of MaxLinear from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Finally, Susquehanna set a $70.00 price objective on shares of MaxLinear in a research note on Friday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, MaxLinear currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.30.

MaxLinear Stock Performance

The business has a fifty day moving average of $76.07 and a 200 day moving average of $60.83. The company has a market cap of $5.37 billion, a P/E ratio of -159.01 and a beta of 3.97. The company has a quick ratio of 1.57, a current ratio of 2.22 and a debt-to-equity ratio of 0.31.

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

Insider Activity

In related news, CEO Kishore Seendripu sold 351,454 shares of the 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.70% of the stock is owned by corporate insiders.

Institutional Trading of MaxLinear

Several large investors have recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of MaxLinear in the 2nd quarter worth approximately $1,754,062,000. Dimensional Fund Advisors LP raised its holdings in MaxLinear by 7.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,689,692 shares of the semiconductor company’s stock worth $29,376,000 after purchasing an additional 113,058 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in MaxLinear in the second quarter worth $165,221,000. AIGH Capital Management LLC bought a new position in MaxLinear in the second quarter worth $104,729,000. Finally, Bank of America Corp DE lifted its position in MaxLinear by 6.9% during the first quarter. Bank of America Corp DE now owns 641,034 shares of the semiconductor company’s stock valued at $11,148,000 after buying an additional 41,119 shares during the period. 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.