MaxLinear (NASDAQ:MXL) Stock Price Down 6.4% – Should You Sell?

MaxLinear, Inc. (NASDAQ:MXL) shares were down 6.4% during mid-day trading on Tuesday . The stock traded as low as $18.06 and last traded at $18.18. Approximately 576,684 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 1,027,392 shares. The stock had previously closed at $19.43.

Analyst Ratings Changes

Several brokerages have commented on MXL. Benchmark raised their target price on shares of MaxLinear from $22.00 to $28.00 and gave the stock a “buy” rating in a report on Monday. Craig Hallum dropped their price objective on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. Susquehanna cut MaxLinear from a “positive” rating to a “neutral” rating and lowered their target price for the stock from $26.00 to $15.00 in a report on Tuesday, October 1st. Finally, Wells Fargo & Company assumed coverage on MaxLinear in a report on Friday, November 22nd. They issued an “equal weight” rating and a $14.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $23.14.

MaxLinear Trading Up 3.4 %

The firm has a market cap of $1.57 billion, a price-to-earnings ratio of -6.84 and a beta of 1.87. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.95 and a quick ratio of 1.38. The business has a 50-day moving average of $15.11 and a 200-day moving average of $16.05.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%. The company had revenue of $81.10 million for the quarter, compared to the consensus estimate of $80.40 million. During the same quarter in the prior year, the company earned ($0.02) EPS. The company’s revenue for the quarter was down 40.2% on a year-over-year basis. Research analysts anticipate that MaxLinear, Inc. will post -1.66 EPS for the current year.

Insiders Place Their Bets

In other news, insider Connie H. Kwong sold 5,000 shares of MaxLinear stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $18.61, for a total value of $93,050.00. Following the completion of the sale, the insider now directly owns 49,147 shares in the company, valued at approximately $914,625.67. The trade was a 9.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP William Torgerson sold 6,100 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $15.40, for a total transaction of $93,940.00. Following the sale, the vice president now owns 179,262 shares in the company, valued at $2,760,634.80. The trade was a 3.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,900 shares of company stock valued at $276,078 over the last 90 days. 8.60% of the stock is currently owned by insiders.

Institutional Trading of MaxLinear

A number of hedge funds and other institutional investors have recently modified their holdings of MXL. Innealta Capital LLC acquired a new position in MaxLinear in the 2nd quarter worth about $30,000. International Assets Investment Management LLC bought a new stake in shares of MaxLinear during the second quarter worth about $31,000. Truvestments Capital LLC acquired a new position in shares of MaxLinear in the third quarter valued at approximately $42,000. GAMMA Investing LLC raised its holdings in MaxLinear by 151.8% in the 3rd quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 2,093 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in MaxLinear during the 2nd quarter worth approximately $56,000. Institutional investors own 90.79% of the company’s stock.

MaxLinear Company Profile

MaxLinear, Inc provides communications systems-on-chip solutions worldwide. Its products integrate various portions of a high-speed communication system, including radio frequency, high-performance analog, mixed-signal, digital signal processing, security engines, data compression and networking layers, and power management.