MaxLinear (NASDAQ:MXL) Stock Price Down 5.4% – Here’s Why

MaxLinear, Inc. (NASDAQ:MXL)’s share price traded down 5.4% on Thursday . The stock traded as low as $17.93 and last traded at $17.82. 57,072 shares traded hands during trading, a decline of 97% from the average session volume of 2,265,686 shares. The stock had previously closed at $18.84.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Northland Securities upped their target price on MaxLinear from $25.00 to $27.50 and gave the company an “outperform” rating in a research report on Monday, January 6th. Needham & Company LLC reiterated a “hold” rating on shares of MaxLinear in a research note on Thursday, January 30th. Wells Fargo & Company boosted their target price on shares of MaxLinear from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Craig Hallum lowered their price objective on MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Finally, Benchmark reissued a “buy” rating and set a $28.00 target price on shares of MaxLinear in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $25.50.

MaxLinear Stock Performance

The company’s 50 day simple moving average is $20.05 and its 200 day simple moving average is $16.20. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of -6.13 and a beta of 1.77. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.28 and a current ratio of 1.77.

MaxLinear (NASDAQ:MXL) last announced its earnings results 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 return on equity of 21.94% and a negative net margin of 68.01%. On average, equities research analysts anticipate that MaxLinear, Inc. will post -0.21 earnings per share for the current year.

Insider Activity at MaxLinear

In other MaxLinear news, insider Connie H. Kwong sold 5,000 shares of MaxLinear stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $18.61, for a total value of $93,050.00. Following the completion of the sale, the insider now directly owns 49,147 shares in the company, valued at $914,625.67. The trade was a 9.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ted L. Tewksbury III sold 5,800 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $15.36, for a total value of $89,088.00. Following the completion of the sale, the director now owns 69,717 shares of the company’s stock, valued at approximately $1,070,853.12. This trade represents a 7.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,900 shares of company stock valued at $927,278 over the last 90 days. 8.60% of the stock is currently owned by corporate insiders.

Institutional Trading of MaxLinear

Hedge funds have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. boosted its stake in MaxLinear by 5,114.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 126,863 shares of the semiconductor company’s stock valued at $1,837,000 after buying an additional 124,430 shares in the last quarter. Quantbot Technologies LP grew its holdings in shares of MaxLinear by 111.7% in the 3rd quarter. Quantbot Technologies LP now owns 66,363 shares of the semiconductor company’s stock worth $961,000 after purchasing an additional 35,018 shares during the last quarter. Two Sigma Advisers LP increased 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 worth $10,051,000 after purchasing an additional 124,300 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in 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 valued at $24,740,000 after purchasing an additional 966,468 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in shares of MaxLinear during the third quarter worth approximately $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.