MaxLinear (NASDAQ:MXL) Stock Price Down 8% – What’s Next?

MaxLinear, Inc (NASDAQ:MXL) shares were down 8% during trading on Friday. The stock traded as low as $54.59 and last traded at $54.2570. Approximately 234,726 shares were traded during mid-day trading, a decline of 93% from the average session volume of 3,157,524 shares. The stock had previously closed at $58.96.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MXL. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxLinear in a research report on Thursday, October 15th. Wall Street Zen upgraded shares of MaxLinear from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. Wells Fargo & Company reduced their target price on shares of MaxLinear from $95.00 to $78.00 and set an “equal weight” rating for the company in a report on Tuesday, October 20th. Roth Capital increased their price target on shares of MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Finally, Zacks Research upgraded shares of MaxLinear from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 28th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $94.30.

MaxLinear Stock Down 9.2%

The company has a 50-day moving average of $76.05 and a 200-day moving average of $61.03. The company has a current ratio of 2.22, a quick ratio of 1.57 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $4.87 billion, a price-to-earnings ratio of -144.68 and a beta of 3.97.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings results on Thursday, October 22nd. The semiconductor company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.06. MaxLinear had a positive return on equity of 12.89% and a negative net margin of 4.45%. The business had revenue of $218.06 million during the quarter, compared to the consensus estimate of $214.95 million. During the same quarter last year, the company earned $0.14 earnings per share. The company’s quarterly revenue was up 72.4% on a year-over-year basis. On average, equities analysts predict that MaxLinear, Inc will post 1.10 earnings per share for the current fiscal year.

Insider Activity at MaxLinear

In related news, CEO Kishore Seendripu sold 351,454 shares of MaxLinear stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of MaxLinear in the second quarter worth $1,754,062,000. Dimensional Fund Advisors LP increased its position in shares of MaxLinear by 7.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,689,692 shares of the semiconductor company’s stock valued at $29,376,000 after acquiring an additional 113,058 shares during the period. The Manufacturers Life Insurance Company acquired a new position in shares of MaxLinear in the 2nd quarter valued at $165,221,000. AIGH Capital Management LLC acquired a new position in shares of MaxLinear in the 2nd quarter valued at $104,729,000. Finally, Bank of America Corp DE raised its stake in MaxLinear by 6.9% in the 1st quarter. Bank of America Corp DE now owns 641,034 shares of the semiconductor company’s stock worth $11,148,000 after acquiring an additional 41,119 shares during the last quarter. Institutional investors and hedge funds own 90.79% of the company’s stock.

MaxLinear Company Profile

MaxLinear, Inc. is a fabless semiconductor company that designs radio-frequency, analog and mixed-signal components, as well as system-on-chip products. Its technologies are used to move and process data in broadband, wireless, wired-networking and infrastructure applications. The company’s products support equipment such as broadband access devices, Wi-Fi systems, Ethernet and optical networking equipment, and wireless infrastructure. MaxLinear sells to customers around the world, including communications equipment manufacturers and other technology companies.