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

MaxLinear, Inc. (NASDAQ:MXL)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $13.32, but opened at $12.62. MaxLinear shares last traded at $12.78, with a volume of 140,576 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Benchmark reissued a “buy” rating and issued a $28.00 price objective on shares of MaxLinear in a research note on Thursday, January 30th. Northland Securities boosted their price target on MaxLinear from $25.00 to $27.50 and gave the company an “outperform” rating in a research note on Monday, January 6th. Susquehanna reduced their price objective on shares of MaxLinear from $25.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Needham & Company LLC reiterated a “hold” rating on shares of MaxLinear in a research note on Thursday, January 30th. Finally, Wells Fargo & Company increased their target price on shares of MaxLinear from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $25.50.

MaxLinear Trading Down 8.0 %

The business has a fifty day moving average of $18.84 and a 200-day moving average of $16.43. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.28 and a current ratio of 1.77. The company has a market capitalization of $1.04 billion, a P/E ratio of -4.21 and a beta of 1.77.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.14). MaxLinear had a negative net margin of 68.01% and a negative return on equity of 21.94%. Analysts anticipate that MaxLinear, Inc. will post -0.37 earnings per share for the current fiscal year.

Insider Buying and Selling at MaxLinear

In other news, insider Steven G. Litchfield sold 32,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $20.35, for a total value of $651,200.00. Following the transaction, the insider now owns 365,868 shares in the company, valued at $7,445,413.80. This trade represents a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On MaxLinear

A number of hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. grew its stake in shares of MaxLinear by 29.0% in the 4th quarter. Pacer Advisors Inc. now owns 1,968 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 443 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in MaxLinear by 1.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 60,406 shares of the semiconductor company’s stock worth $1,195,000 after purchasing an additional 631 shares in the last quarter. GAMMA Investing LLC increased its stake in MaxLinear by 19.1% in the 4th quarter. GAMMA Investing LLC now owns 4,134 shares of the semiconductor company’s stock valued at $82,000 after buying an additional 662 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of MaxLinear by 20.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 7,761 shares of the semiconductor company’s stock worth $112,000 after buying an additional 1,308 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of MaxLinear during the 4th quarter worth approximately $34,000. 90.79% of the stock is owned by hedge funds and other institutional investors.

About MaxLinear

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.