MaxLinear (NASDAQ:MXL) Shares Gap Down – Here’s What Happened

Shares of MaxLinear, Inc (NASDAQ:MXL) gapped down prior to trading on Wednesday . The stock had previously closed at $128.03, but opened at $119.34. MaxLinear shares last traded at $119.4810, with a volume of 895,748 shares trading hands.

Analyst Upgrades and Downgrades

MXL has been the topic of a number of recent analyst reports. Susquehanna restated a “neutral” rating and set a $30.00 target price on shares of MaxLinear in a report on Monday, April 20th. Benchmark assumed coverage on shares of MaxLinear in a report on Wednesday, May 27th. They issued a “buy” rating and a $125.00 target price on the stock. Stifel Nicolaus raised their target price on shares of MaxLinear from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of MaxLinear in a report on Tuesday, April 21st. Finally, Northland Securities set a $110.00 price target on MaxLinear in a research report on Wednesday, June 3rd. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $65.50.

MaxLinear Price Performance

The stock has a market capitalization of $10.34 billion, a price-to-earnings ratio of -75.65 and a beta of 3.98. The company’s 50-day simple moving average is $83.42 and its 200-day simple moving average is $41.21. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.70 and a quick ratio of 1.12.

MaxLinear (NASDAQ:MXL) last announced its earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. The company had revenue of $137.19 million for the quarter, compared to analyst estimates of $137.15 million. MaxLinear had a negative return on equity of 2.33% and a negative net margin of 25.96%.The firm’s quarterly revenue was up 43.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.05) earnings per share. Research analysts forecast that MaxLinear, Inc will post 0.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MaxLinear news, insider Connie H. Kwong sold 35,000 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $96.96, for a total value of $3,393,600.00. Following the completion of the sale, the insider owned 13,947 shares of the company’s stock, valued at $1,352,301.12. The trade was a 71.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas E. Pardun sold 11,000 shares of the business’s 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 sale, the director directly owned 55,252 shares of the company’s stock, valued at $5,801,460. This represents a 16.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 65,168 shares of company stock valued at $5,559,358 in the last three months. Insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On MaxLinear

Large investors have recently added to or reduced their stakes in the stock. Larson Financial Group LLC raised its holdings in MaxLinear by 161.7% in the 4th quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 875 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in 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. acquired a new position in MaxLinear in the fourth quarter valued at about $25,000. International Assets Investment Management LLC bought a new stake in MaxLinear during the fourth quarter worth about $27,000. Finally, EverSource Wealth Advisors LLC lifted its position in MaxLinear by 16.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 217 shares during the period. Institutional investors and hedge funds own 90.79% of the company’s stock.

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.