MaxLinear (NASDAQ:MXL) Shares Gap Down – What’s Next?

MaxLinear, Inc (NASDAQ:MXLGet Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $88.84, but opened at $82.94. MaxLinear shares last traded at $83.7540, with a volume of 522,089 shares.

Wall Street Analysts Forecast Growth

MXL has been the topic of several analyst reports. Susquehanna restated a “neutral” rating and issued a $30.00 target price on shares of MaxLinear in a research report on Monday, April 20th. Wall Street Zen raised MaxLinear from a “hold” rating to a “buy” rating in a research note on Sunday, July 5th. Needham & Company LLC raised MaxLinear from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Friday, April 24th. Northland Securities set a $110.00 price target on MaxLinear in a report on Wednesday, June 3rd. Finally, Benchmark began coverage on shares of MaxLinear in a research note on Wednesday, May 27th. They set a “buy” rating and a $125.00 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, MaxLinear has an average rating of “Hold” and a consensus target price of $65.50.

Get Our Latest Report on MXL

MaxLinear Stock Down 9.6%

The firm has a market cap of $7.19 billion, a PE ratio of -52.84 and a beta of 3.91. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.70 and a quick ratio of 1.12. The business has a fifty day moving average price of $91.93 and a two-hundred day moving average price of $47.06.

MaxLinear (NASDAQ:MXLGet Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share (EPS) 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 firm had revenue of $137.19 million during the quarter, compared to the consensus estimate of $137.15 million. During the same period in the prior year, the business earned ($0.05) EPS. The business’s revenue for the quarter was up 43.0% on a year-over-year basis. On average, analysts anticipate that MaxLinear, Inc will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling at MaxLinear

In other news, Director Thomas E. Pardun sold 11,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $105.00, for a total value of $1,155,000.00. Following the transaction, the director directly owned 55,252 shares of the company’s stock, valued at approximately $5,801,460. This represents a 16.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Connie H. Kwong sold 35,000 shares of the firm’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 sale, the insider directly owned 13,947 shares of the company’s stock, valued at $1,352,301.12. This trade represents a 71.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 65,168 shares of company stock worth $5,559,358. 7.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Pure Financial Advisors LLC acquired a new position in MaxLinear during the 4th quarter worth $1,424,000. HighTower Advisors LLC grew its position in shares of MaxLinear by 1.7% in the fourth quarter. HighTower Advisors LLC now owns 656,319 shares of the semiconductor company’s stock valued at $11,440,000 after purchasing an additional 10,948 shares during the last quarter. Pictet Asset Management Holding SA bought a new position in shares of MaxLinear in the fourth quarter worth about $190,000. Tudor Investment Corp ET AL increased its stake in shares of MaxLinear by 68.5% in the third quarter. Tudor Investment Corp ET AL now owns 427,195 shares of the semiconductor company’s stock worth $6,869,000 after purchasing an additional 173,709 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of MaxLinear by 4.8% during the 4th quarter. Vanguard Group Inc. now owns 13,326,387 shares of the semiconductor company’s stock worth $232,279,000 after purchasing an additional 605,903 shares during the last quarter. 90.79% of the stock is owned by institutional investors.

About MaxLinear

(Get Free Report)

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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