MaxLinear (NASDAQ:MXL) Trading Down 6.4% – Here’s Why

MaxLinear, Inc. (NASDAQ:MXL) traded down 6.4% during mid-day trading on Tuesday . The stock traded as low as $18.06 and last traded at $18.18. 576,684 shares changed hands during trading, a decline of 44% from the average session volume of 1,027,392 shares. The stock had previously closed at $19.43.

Analyst Upgrades and Downgrades

MXL has been the topic of a number of research analyst reports. Craig Hallum reduced their target price on MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Susquehanna downgraded shares of MaxLinear from a “positive” rating to a “neutral” rating and decreased their price objective for the stock from $26.00 to $15.00 in a report on Tuesday, October 1st. Wells Fargo & Company started coverage on shares of MaxLinear in a report on Friday, November 22nd. They set an “equal weight” rating and a $14.00 target price on the stock. Benchmark lifted their price target on shares of MaxLinear from $22.00 to $28.00 and gave the company a “buy” rating in a report on Monday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, MaxLinear currently has a consensus rating of “Hold” and an average target price of $23.14.

MaxLinear Trading Down 7.4 %

The company has a current ratio of 1.95, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average of $14.90 and a 200 day moving average of $16.04. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of -7.14 and a beta of 1.87.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). The company had revenue of $81.10 million for the quarter, compared to the consensus estimate of $80.40 million. MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. MaxLinear’s revenue for the quarter was down 40.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. As a group, equities analysts predict that MaxLinear, Inc. will post -1.66 EPS for the current fiscal year.

Insider Transactions at MaxLinear

In other MaxLinear news, insider Connie H. Kwong sold 5,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $18.61, for a total value 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 represents a 9.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP William Torgerson sold 6,100 shares of MaxLinear stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $15.40, for a total value of $93,940.00. Following the completion of the transaction, the vice president now directly owns 179,262 shares in the company, valued at $2,760,634.80. This represents a 3.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 16,900 shares of company stock valued at $276,078. Company insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On MaxLinear

Large investors have recently made changes to their positions in the business. Innealta Capital LLC acquired a new stake in MaxLinear during the second quarter valued at $30,000. International Assets Investment Management LLC acquired a new stake in shares of MaxLinear during the 2nd quarter valued at about $31,000. Truvestments Capital LLC bought a new stake in shares of MaxLinear in the 3rd quarter valued at approximately $42,000. GAMMA Investing LLC increased its holdings in MaxLinear by 151.8% in the third quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock worth $50,000 after buying an additional 2,093 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in MaxLinear during the second quarter valued at approximately $56,000. Institutional investors and hedge funds own 90.79% of the company’s stock.

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.