MaxLinear (NASDAQ:MXL) Stock Price Down 5.3% – Here’s Why

MaxLinear, Inc (NASDAQ:MXL) traded down 5.3% during mid-day trading on Tuesday . The stock traded as low as $56.47 and last traded at $56.7560. Approximately 282,546 shares traded hands during trading, a decline of 91% from the average session volume of 3,116,958 shares. The stock had previously closed at $59.91.

Analyst Ratings Changes

A number of analysts have commented on the stock. Benchmark assumed coverage on shares of MaxLinear in a research note on Wednesday, May 27th. They set a “buy” rating and a $125.00 price objective for the company. Northland Securities set a $110.00 price target on shares of MaxLinear in a research report on Wednesday, June 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxLinear in a research note on Friday, July 17th. Susquehanna increased their price objective on MaxLinear from $45.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Finally, Needham & Company LLC raised their price objective on MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $85.00.

MaxLinear Stock Down 4.5%

The business’s 50 day moving average is $79.11 and its 200-day moving average is $59.19. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.15 and a current ratio of 1.78. The firm has a market capitalization of $5.19 billion, a price-to-earnings ratio of -48.13 and a beta of 3.95.

MaxLinear (NASDAQ:MXL) last released its earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The firm had revenue of $168.85 million during the quarter, compared to analyst estimates of $164.64 million. MaxLinear had a negative net margin of 18.24% and a positive return on equity of 2.24%. The business’s revenue was up 55.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.02 EPS. Equities analysts anticipate that MaxLinear, Inc will post 0.78 EPS for the current fiscal year.

Insider Transactions at MaxLinear

In other MaxLinear news, CEO Kishore Seendripu sold 351,454 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $85.95, for a total value of $30,207,471.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 7.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MaxLinear

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Corient Private Wealth LP bought a new position in MaxLinear in the second quarter worth $589,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of MaxLinear in the 2nd quarter valued at $1,050,000. California State Teachers Retirement System raised its stake in shares of MaxLinear by 12,029.5% in the 2nd quarter. California State Teachers Retirement System now owns 12,619,533 shares of the semiconductor company’s stock valued at $1,615,679,000 after buying an additional 12,515,493 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in shares of MaxLinear during the 2nd quarter worth about $32,000. Finally, Wedmont Private Capital bought a new stake in MaxLinear in the second quarter valued at about $458,000. 90.79% of the stock is currently owned by institutional investors.

MaxLinear Company Profile

MaxLinear, Inc is a provider of radio-frequency (RF), analog, and mixed-signal integrated circuits for broadband communications, data center connectivity, and video infrastructure applications. The company’s product portfolio includes high-performance RF front-end modules, broadband power amplifiers, optical and Ethernet transceivers, and network processors designed to support demanding signal processing requirements.

MaxLinear’s semiconductor solutions are used by cable and satellite television operators, fiber-to-the-home service providers, network equipment manufacturers, and data center operators.