MaxLinear (NASDAQ:MXL) Shares Down 4.9% – What’s Next?

MaxLinear, Inc. (NASDAQ:MXL) shares dropped 4.9% during mid-day trading on Wednesday . The company traded as low as $15.79 and last traded at $15.83. Approximately 679,878 shares changed hands during trading, a decline of 69% from the average daily volume of 2,220,188 shares. The stock had previously closed at $16.65.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MXL shares. Benchmark restated a “buy” rating and issued a $28.00 target price on shares of MaxLinear in a research note on Thursday, January 30th. Craig Hallum decreased their price objective on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Susquehanna decreased their price target on shares of MaxLinear from $25.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a research report on Thursday, January 30th. Finally, Wells Fargo & Company lifted their price target on MaxLinear from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, MaxLinear presently has an average rating of “Hold” and a consensus price target of $25.50.

MaxLinear Price Performance

The company has a market capitalization of $1.34 billion, a P/E ratio of -5.40 and a beta of 1.77. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.77 and a quick ratio of 1.28. The company has a fifty day moving average price of $20.13 and a 200 day moving average price of $16.11.

MaxLinear (NASDAQ:MXL) last issued its earnings results on Wednesday, January 29th. The semiconductor company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.14). MaxLinear had a negative return on equity of 21.94% and a negative net margin of 68.01%. On average, sell-side analysts forecast that MaxLinear, Inc. will post -0.37 EPS for the current fiscal year.

Insider Buying and Selling at MaxLinear

In other MaxLinear news, insider Connie H. Kwong sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $18.61, for a total transaction of $93,050.00. Following the transaction, the insider now owns 49,147 shares of the company’s stock, valued at approximately $914,625.67. This trade represents a 9.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven G. Litchfield sold 32,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $20.35, for a total transaction of $651,200.00. Following the completion of the sale, the insider now directly owns 365,868 shares of the company’s stock, valued at approximately $7,445,413.80. This represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,800 shares of company stock valued at $833,338 in the last ninety days. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On MaxLinear

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. lifted its stake in MaxLinear by 5,114.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 126,863 shares of the semiconductor company’s stock valued at $1,837,000 after purchasing an additional 124,430 shares during the last quarter. Quantbot Technologies LP increased its holdings in shares of MaxLinear by 111.7% in the third quarter. Quantbot Technologies LP now owns 66,363 shares of the semiconductor company’s stock valued at $961,000 after buying an additional 35,018 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of MaxLinear by 21.8% during the 3rd quarter. Two Sigma Advisers LP now owns 694,149 shares of the semiconductor company’s stock valued at $10,051,000 after acquiring an additional 124,300 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of MaxLinear by 339.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,250,769 shares of the semiconductor company’s stock worth $24,740,000 after acquiring an additional 966,468 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in shares of MaxLinear in the 3rd quarter worth $16,696,000. Institutional investors own 90.79% of the company’s stock.

About MaxLinear

MaxLinear, Inc provides communications systems-on-chip solutions worldwide. Its products integrate various portions of a high-speed communication system, including radio frequency, high-performance analog, mixed-signal, digital signal processing, security engines, data compression and networking layers, and power management.