MaxLinear (NASDAQ:MXL) Shares Gap Down – Time to Sell?

MaxLinear, Inc (NASDAQ:MXL) gapped down prior to trading on Wednesday . The stock had previously closed at $86.06, but opened at $81.57. MaxLinear shares last traded at $87.3410, with a volume of 478,383 shares.

Wall Street Analyst Weigh In

Several research analysts have commented on MXL shares. Stifel Nicolaus upped their target price on shares of MaxLinear from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Needham & Company LLC upgraded shares of MaxLinear from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Friday, April 24th. Northland Securities set a $110.00 target price on MaxLinear in a research report on Wednesday, June 3rd. Roth Capital upgraded MaxLinear from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $40.00 price objective on shares of MaxLinear in a research report on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $71.00.

MaxLinear Stock Performance

The firm’s 50-day simple moving average is $90.55 and its two-hundred day simple moving average is $48.73. The stock has a market capitalization of $8.07 billion, a PE ratio of -59.41 and a beta of 3.91. The company has a current ratio of 1.70, a quick ratio of 1.12 and a debt-to-equity ratio of 0.27.

MaxLinear (NASDAQ:MXL) last issued its earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.18 by $0.04. The business had revenue of $137.19 million during the quarter, compared to analysts’ expectations of $137.15 million. MaxLinear had a negative return on equity of 2.33% and a negative net margin of 25.96%.MaxLinear’s revenue was up 43.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.05) earnings per share. On average, equities research analysts expect that MaxLinear, Inc will post 0.5 earnings per share for the current fiscal year.

Insider Activity at MaxLinear

In related news, insider Connie H. Kwong sold 35,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $96.96, for a total transaction of $3,393,600.00. Following the transaction, the insider directly owned 13,947 shares of the company’s stock, valued at approximately $1,352,301.12. The trade was a 71.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Thomas E. Pardun sold 11,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was 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 owned 55,252 shares of the company’s stock, valued at approximately $5,801,460. The trade was a 16.60% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 65,168 shares of company stock valued at $5,559,358. 7.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MaxLinear

Large investors have recently made changes to their positions in the company. Larson Financial Group LLC grew its position in MaxLinear by 161.7% in the fourth quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 875 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in MaxLinear by 103.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 726 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in MaxLinear in the 4th quarter worth $25,000. International Assets Investment Management LLC bought a new stake in MaxLinear during the fourth quarter valued at about $27,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of MaxLinear by 16.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 217 shares during the last quarter. Institutional investors own 90.79% of the company’s stock.

About MaxLinear

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.