MaxLinear, Inc (NASDAQ:MXL – Get Free Report)’s share price dropped 15.1% during trading on Thursday. The stock traded as low as $49.08 and last traded at $48.2410. 643,294 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 3,147,556 shares. The stock had previously closed at $56.85.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on MXL shares. Zacks Research raised MaxLinear from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 28th. Susquehanna set a $70.00 price objective on MaxLinear in a report on Friday, October 23rd. Wall Street Zen raised shares of MaxLinear from a “hold” rating to a “buy” rating in a research note on Sunday, July 26th. Morgan Stanley set a $125.00 target price on shares of MaxLinear in a report on Monday, September 14th. Finally, Wells Fargo & Company dropped their target price on shares of MaxLinear from $95.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 20th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $94.30.
Read Our Latest Stock Report on MaxLinear
MaxLinear Price Performance
The company has a debt-to-equity ratio of 0.31, a current ratio of 2.22 and a quick ratio of 1.57. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of -120.04 and a beta of 3.97. The stock’s 50 day simple moving average is $76.92 and its 200-day simple moving average is $59.99.
MaxLinear (NASDAQ:MXL – Get Free Report) last announced its earnings results on Thursday, October 22nd. The semiconductor company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.06. The firm had revenue of $218.06 million during the quarter, compared to the consensus estimate of $214.95 million. MaxLinear had a positive return on equity of 12.89% and a negative net margin of 4.45%. The firm’s revenue for the quarter was up 72.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.14 EPS. On average, analysts expect that MaxLinear, Inc will post 1.10 EPS for the current fiscal year.
Insider Activity
In other 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 legal filing with the SEC, which is available through the SEC website. 7.70% of the stock is owned by corporate insiders.
Institutional Trading of MaxLinear
Hedge funds have recently modified their holdings of the company. Knights of Columbus Asset Advisors LLC lifted its holdings in shares of MaxLinear by 25.4% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 24,283 shares of the semiconductor company’s stock valued at $2,193,000 after purchasing an additional 4,919 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in MaxLinear by 0.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 50,881 shares of the semiconductor company’s stock worth $4,687,000 after buying an additional 181 shares during the period. StoneRidge PMG Advisors LLC acquired a new stake in MaxLinear during the 3rd quarter worth approximately $281,000. Kestra Advisory Services LLC bought a new position in MaxLinear in the third quarter valued at approximately $450,000. Finally, Commonwealth Equity Services LLC boosted its stake in MaxLinear by 30.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 8,817 shares of the semiconductor company’s stock worth $796,000 after purchasing an additional 2,041 shares during the period. 90.79% of the stock is currently owned by institutional investors and hedge funds.
MaxLinear Company Profile
MaxLinear, Inc is a fabless semiconductor company that designs, develops and sells integrated circuits and related solutions for broadband communications, wired and wireless infrastructure, data centers, industrial applications and consumer electronics. Its products are used by equipment manufacturers and service providers to support the transmission, processing and management of voice, video and data.
The company’s portfolio includes broadband access system-on-chip products, Ethernet transceivers and controllers, high-speed interconnect and communications devices, radio-frequency and analog products, optical and copper connectivity solutions, and power-management components.
Featured Stories
- Five stocks we like better than MaxLinear
- Could the Midterms Revive Medicare for All? 3 Healthcare Stocks to Watch
- Qualcomm Beat Earnings, But Its Fastest-Growing Businesses Have a Catch
- Oil, Uranium, or Renewables? 3 Energy Plays for a Changing Market
- South Korea’s Chip Exports Are Soaring—So Why Is This ETF Down 20%?
Receive News & Ratings for MaxLinear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MaxLinear and related companies with MarketBeat.com's FREE daily email newsletter.
