MaxLinear (NYSE:MXL) Shares Down 5.7%

MaxLinear, Inc. (NYSE:MXL) traded down 5.7% during trading on Tuesday . The company traded as low as $23.49 and last traded at $23.63. 341,581 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 724,247 shares. The stock had previously closed at $25.06.

Analyst Ratings Changes

A number of research analysts have commented on the company. Stifel Nicolaus upped their price objective on MaxLinear from $26.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Craig Hallum decreased their price objective on MaxLinear from $38.00 to $28.00 and set a “hold” rating on the stock in a report on Thursday. Needham & Company LLC lowered MaxLinear from a “buy” rating to a “hold” rating in a report on Thursday. Northland Securities reduced their target price on MaxLinear from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, StockNews.com lowered MaxLinear from a “hold” rating to a “sell” rating in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, MaxLinear has a consensus rating of “Hold” and an average target price of $24.70.

MaxLinear Trading Down 37.1 %

The company has a current ratio of 1.99, a quick ratio of 1.56 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $1.17 billion, a P/E ratio of -8.23 and a beta of 1.84. The firm has a 50-day moving average of $20.15 and a two-hundred day moving average of $20.13.

MaxLinear (NYSE:MXL) last posted its earnings results on Wednesday, July 24th. The semiconductor company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.06). The firm had revenue of $92.00 million during the quarter, compared to the consensus estimate of $100.25 million. MaxLinear had a negative net margin of 28.70% and a negative return on equity of 4.75%. MaxLinear’s revenue for the quarter was down 50.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.19 earnings per share. On average, analysts anticipate that MaxLinear, Inc. will post -1.25 EPS for the current year.

Hedge Funds Weigh In On MaxLinear

Several large investors have recently bought and sold shares of MXL. Vanguard Group Inc. increased its stake in shares of MaxLinear by 12.6% in the third quarter. Vanguard Group Inc. now owns 10,683,038 shares of the semiconductor company’s stock valued at $237,698,000 after buying an additional 1,199,257 shares during the period. SG Americas Securities LLC increased its stake in shares of MaxLinear by 16.5% in the fourth quarter. SG Americas Securities LLC now owns 39,406 shares of the semiconductor company’s stock valued at $937,000 after buying an additional 5,569 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of MaxLinear in the fourth quarter valued at about $7,553,000. International Assets Investment Management LLC increased its stake in shares of MaxLinear by 2,277.0% in the fourth quarter. International Assets Investment Management LLC now owns 37,153 shares of the semiconductor company’s stock valued at $883,000 after buying an additional 35,590 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of MaxLinear by 10.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,132 shares of the semiconductor company’s stock valued at $835,000 after buying an additional 3,278 shares during the period. 90.79% of the stock is currently owned by institutional investors.

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.