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

MaxLinear, Inc (NASDAQ:MXL) shares gapped down prior to trading on Tuesday . The stock had previously closed at $96.44, but opened at $84.92. MaxLinear shares last traded at $91.3840, with a volume of 717,443 shares traded.

Analysts Set New Price Targets

Several brokerages recently weighed in on MXL. Benchmark initiated coverage on MaxLinear in a research note on Wednesday, May 27th. They set a “buy” rating and a $125.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of MaxLinear in a research report on Tuesday, April 21st. Northland Securities set a $110.00 price target on shares of MaxLinear in a report on Wednesday, June 3rd. Needham & Company LLC raised shares of MaxLinear from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Friday, April 24th. Finally, Loop Capital raised shares of MaxLinear from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $17.00 to $75.00 in a research note on Wednesday, April 29th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $65.00.

MaxLinear Price Performance

The stock has a 50 day moving average of $74.10 and a two-hundred day moving average of $37.78. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.12 and a current ratio of 1.70. The stock has a market cap of $7.90 billion, a PE ratio of -58.05 and a beta of 3.98.

MaxLinear (NASDAQ:MXL) last announced its earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.18 by $0.04. The company had revenue of $137.19 million during the quarter, compared to analysts’ expectations of $137.15 million. MaxLinear had a negative net margin of 25.96% and a negative return on equity of 2.33%. The business’s revenue for the quarter was up 43.0% on a year-over-year basis. During the same period last year, the company posted ($0.05) earnings per share. Equities analysts anticipate that MaxLinear, Inc will post 0.52 EPS for the current year.

Insider Activity at MaxLinear

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MXL. Larson Financial Group LLC lifted its stake in MaxLinear by 161.7% in the 4th quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 875 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in MaxLinear by 103.0% during the 4th 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 during the period. Northwestern Mutual Wealth Management Co. purchased a new position in MaxLinear during the 4th quarter valued at about $25,000. International Assets Investment Management LLC purchased a new position in MaxLinear during the 4th quarter valued at about $27,000. Finally, EverSource Wealth Advisors LLC increased 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 valued at $27,000 after purchasing an additional 217 shares during the period. Hedge funds and other institutional investors own 90.79% of the company’s stock.

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.