Shares of MaxLinear, Inc (NASDAQ:MXL – Get Free Report) dropped 10.7% on Thursday . The stock traded as low as $104.51 and last traded at $100.3670. Approximately 1,066,268 shares were traded during mid-day trading, a decline of 66% from the average session volume of 3,095,560 shares. The stock had previously closed at $112.39.
Analysts Set New Price Targets
MXL has been the subject of several research analyst reports. Roth Mkm raised MaxLinear from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Friday, April 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a report on Tuesday, April 21st. Loop Capital upgraded shares of MaxLinear from a “hold” rating to a “buy” rating and increased their price target for the company from $17.00 to $75.00 in a research report on Wednesday, April 29th. Susquehanna restated a “neutral” rating and set a $30.00 price objective on shares of MaxLinear in a report on Monday, April 20th. Finally, Wall Street Zen downgraded shares of MaxLinear from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, MaxLinear has an average rating of “Hold” and an average target price of $65.50.
Read Our Latest Stock Analysis on MXL
MaxLinear Stock Performance
MaxLinear (NASDAQ:MXL – Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.04. MaxLinear had a negative return on equity of 2.33% and a negative net margin of 25.96%.The company had revenue of $137.19 million during the quarter, compared to the consensus estimate of $137.15 million. During the same quarter in the prior year, the company earned ($0.05) EPS. The firm’s quarterly revenue was up 43.0% compared to the same quarter last year. On average, equities analysts forecast that MaxLinear, Inc will post 0.52 EPS for the current year.
Insider Transactions at MaxLinear
In other MaxLinear news, Director Thomas E. Pardun sold 11,000 shares of the stock in a transaction dated 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 completion of the transaction, the director owned 55,252 shares in the company, valued at $5,801,460. This trade represents a 16.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Connie H. Kwong sold 35,000 shares of the business’s stock in a transaction that occurred 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 completion of 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 position. The disclosure for this sale is available in the SEC filing. Insiders have sold 65,168 shares of company stock valued at $5,559,358 in the last quarter. Company insiders own 7.70% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of MXL. Larson Financial Group LLC lifted its position in shares of MaxLinear by 161.7% during the fourth 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 grew its position in shares of MaxLinear by 103.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 726 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in shares of MaxLinear in the fourth quarter valued at $25,000. International Assets Investment Management LLC bought a new stake in shares of MaxLinear during the 4th quarter valued at $27,000. Finally, EverSource Wealth Advisors LLC raised its stake 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 valued at $27,000 after purchasing an additional 217 shares during the period. 90.79% of the stock is currently owned by hedge funds and other 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.
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