MaxLinear (NASDAQ:MXL) Trading Down 6% – Should You Sell?

MaxLinear, Inc. (NASDAQ:MXL)’s share price dropped 6% during mid-day trading on Thursday . The company traded as low as $11.94 and last traded at $11.98. Approximately 353,482 shares changed hands during trading, a decline of 72% from the average daily volume of 1,283,845 shares. The stock had previously closed at $12.74.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Northland Securities raised their target price on shares of MaxLinear from $25.00 to $27.50 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Wells Fargo & Company lifted their price objective on MaxLinear from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a research report on Thursday, January 30th. Benchmark restated a “buy” rating and set a $28.00 price target on shares of MaxLinear in a research report on Thursday, January 30th. Finally, Susquehanna dropped their target price on shares of MaxLinear from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $25.50.

MaxLinear Stock Down 5.3 %

The firm has a market cap of $1.02 billion, a PE ratio of -4.11 and a beta of 1.76. The stock has a 50 day simple moving average of $16.67 and a 200-day simple moving average of $16.40. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.77 and a quick ratio of 1.28.

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

Institutional Investors Weigh In On MaxLinear

Institutional investors have recently modified their holdings of the business. State Street Corp lifted its stake in MaxLinear by 5.1% during the 3rd quarter. State Street Corp now owns 4,123,419 shares of the semiconductor company’s stock valued at $59,707,000 after acquiring an additional 198,791 shares during the period. Geode Capital Management LLC lifted its position in MaxLinear by 0.4% during the third quarter. Geode Capital Management LLC now owns 1,805,722 shares of the semiconductor company’s stock valued at $26,152,000 after purchasing an additional 6,420 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in MaxLinear by 3,698.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,525,419 shares of the semiconductor company’s stock worth $30,173,000 after purchasing an additional 1,485,256 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in MaxLinear in the 4th quarter worth approximately $25,659,000. Finally, Vaughan Nelson Investment Management L.P. increased its position in MaxLinear by 10.0% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,268,857 shares of the semiconductor company’s stock valued at $25,098,000 after acquiring an additional 115,867 shares during the last quarter. 90.79% of the stock is owned by hedge funds and other institutional investors.

MaxLinear Company Profile

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.