MaxLinear (NASDAQ:MXL) Shares Down 10.7% – Here’s What Happened

Shares of MaxLinear, Inc (NASDAQ:MXL) traded down 10.7% on Thursday . The company traded as low as $104.51 and last traded at $100.3670. Approximately 1,066,268 shares were traded during trading, a decline of 66% from the average session volume of 3,095,560 shares. The stock had previously closed at $112.39.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MXL shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $40.00 price target on shares of MaxLinear in a research report on Friday, April 24th. Needham & Company LLC raised shares of MaxLinear from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Friday, April 24th. Wall Street Zen cut shares of MaxLinear from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Susquehanna reaffirmed a “neutral” rating and set a $30.00 target price on shares of MaxLinear in a report on Monday, April 20th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MaxLinear in a research note on Tuesday, April 21st. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $65.50.

MaxLinear Stock Down 15.2%

The stock’s fifty day moving average price is $85.04 and its 200 day moving average price is $41.87. The company has a current ratio of 1.70, a quick ratio of 1.12 and a debt-to-equity ratio of 0.27. The stock has a market cap of $8.54 billion, a P/E ratio of -62.77 and a beta of 3.91.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings data on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. MaxLinear had a negative net margin of 25.96% and a negative return on equity of 2.33%. The company had revenue of $137.19 million during the quarter, compared to the consensus estimate of $137.15 million. During the same period in the previous year, the firm posted ($0.05) EPS. The firm’s revenue was up 43.0% compared to the same quarter last year. As a group, research analysts forecast that MaxLinear, Inc will post 0.52 earnings per share for the current fiscal year.

Insider Transactions at MaxLinear

In other MaxLinear news, Director Thomas E. Pardun sold 11,000 shares of MaxLinear stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $105.00, for a total transaction of $1,155,000.00. Following the completion of the sale, the director owned 55,252 shares of the company’s stock, valued at $5,801,460. The trade was a 16.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Connie H. Kwong sold 35,000 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $96.96, for a total value of $3,393,600.00. Following the completion of the transaction, the insider owned 13,947 shares of the company’s stock, valued at $1,352,301.12. The trade was a 71.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 65,168 shares of company stock worth $5,559,358 in the last 90 days. Company insiders own 7.70% of the company’s stock.

Institutional Trading of MaxLinear

A number of hedge funds have recently bought and sold shares of MXL. Larson Financial Group LLC boosted its stake in MaxLinear by 161.7% in the fourth quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock worth $25,000 after buying an additional 875 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of MaxLinear by 103.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 726 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in shares of MaxLinear during the fourth quarter worth approximately $25,000. International Assets Investment Management LLC bought a new stake in shares of MaxLinear in the 4th quarter worth approximately $27,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of MaxLinear by 16.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 217 shares during the last quarter. Institutional investors own 90.79% of the company’s stock.

About MaxLinear

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.