MaxLinear (NASDAQ:MXL) Shares Gap Down – Time to Sell?

MaxLinear, Inc (NASDAQ:MXL)’s stock price gapped down before the market opened on Tuesday. The stock had previously closed at $88.99, but opened at $84.75. MaxLinear shares last traded at $86.70, with a volume of 495,126 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MXL shares. Wall Street Zen raised shares of MaxLinear from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. Needham & Company LLC upped 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxLinear in a research note on Friday, July 17th. Wells Fargo & Company lifted their price target on shares of MaxLinear from $42.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, July 20th. Finally, Morgan Stanley set a $125.00 price target on shares of MaxLinear in a report on Monday, September 14th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $88.64.

MaxLinear Price Performance

The business has a 50-day simple moving average of $77.40 and a 200 day simple moving average of $73.66. The stock has a market cap of $7.15 billion, a P/E ratio of -66.24 and a beta of 3.93. The company has a current ratio of 1.78, a quick ratio of 1.15 and a debt-to-equity ratio of 0.26.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. The company had revenue of $168.85 million during the quarter, compared to analysts’ expectations of $164.64 million. MaxLinear had a positive return on equity of 2.24% and a negative net margin of 18.24%. The business’s quarterly revenue was up 55.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.02 earnings per share. On average, analysts forecast that MaxLinear, Inc will post 0.78 earnings per share for the current year.

Insider Buying and Selling

In other MaxLinear news, CEO Kishore Seendripu sold 351,454 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $85.95, for a total transaction of $30,207,471.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 7.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MXL. EverSource Wealth Advisors LLC grew its position in shares of MaxLinear by 16.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock worth $27,000 after buying an additional 217 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of MaxLinear by 16.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,678 shares of the semiconductor company’s stock valued at $215,000 after acquiring an additional 232 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of MaxLinear in the 2nd quarter valued at $32,000. GAMMA Investing LLC increased its stake in shares of MaxLinear by 5.6% in the 2nd quarter. GAMMA Investing LLC now owns 6,152 shares of the semiconductor company’s stock valued at $788,000 after acquiring an additional 326 shares in the last quarter. Finally, Carolina Wealth Advisors LLC acquired a new position in shares of MaxLinear during the 2nd quarter valued at $47,000. Institutional investors and hedge funds own 90.79% of the company’s stock.

MaxLinear Company Profile

MaxLinear, Inc is a fabless semiconductor company that develops high-performance analog and mixed-signal integrated circuits for communications and connectivity applications. Its products are designed to help equipment manufacturers process, transmit and manage data across broadband, wired and wireless infrastructure, data center, and industrial systems.

The company’s product portfolio includes broadband access and connectivity solutions, RF and microwave components, Ethernet and high-speed interconnect products, optical networking technologies, and power-management devices.