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

Shares of MaxLinear, Inc (NASDAQ:MXL) gapped down before the market opened on Monday . The stock had previously closed at $66.61, but opened at $63.92. MaxLinear shares last traded at $61.8930, with a volume of 482,798 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MXL. Susquehanna increased their price objective on MaxLinear from $45.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Benchmark began coverage on shares of MaxLinear in a research note on Wednesday, May 27th. They issued a “buy” rating and a $125.00 price target on the stock. Wall Street Zen raised MaxLinear from a “hold” rating to a “buy” rating in a research note on Sunday, July 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MaxLinear in a research report on Friday, July 17th. Finally, Stifel Nicolaus increased their price target on MaxLinear from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, July 24th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, MaxLinear has an average rating of “Hold” and a consensus target price of $85.00.

MaxLinear Stock Up 5.7%

The business has a 50-day moving average of $81.29 and a 200-day moving average of $57.96. The stock has a market capitalization of $6.02 billion, a price-to-earnings ratio of -55.76 and a beta of 3.96. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.15 and a current ratio of 1.78.

MaxLinear (NASDAQ:MXL) last announced its earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. MaxLinear had a positive return on equity of 2.24% and a negative net margin of 18.24%.The company had revenue of $168.85 million for the quarter, compared to analyst estimates of $164.64 million. During the same quarter in the previous year, the company earned $0.02 earnings per share. The firm’s quarterly revenue was up 55.2% compared to the same quarter last year. On average, sell-side analysts expect that MaxLinear, Inc will post 0.78 EPS for the current year.

Insider Buying and Selling at MaxLinear

In related news, CEO Kishore Seendripu sold 351,454 shares of the company’s 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 7.70% of the company’s stock.

Institutional Trading of MaxLinear

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of MaxLinear in the second quarter valued at approximately $1,050,000. California State Teachers Retirement System boosted its stake in MaxLinear by 12,029.5% during the 2nd quarter. California State Teachers Retirement System now owns 12,619,533 shares of the semiconductor company’s stock worth $1,615,679,000 after purchasing an additional 12,515,493 shares during the period. Ameritas Advisory Services LLC purchased a new position in MaxLinear during the 2nd quarter worth $32,000. Wedmont Private Capital acquired a new position in MaxLinear in the second quarter valued at $458,000. Finally, HB Wealth Management LLC purchased a new stake in shares of MaxLinear in the second quarter valued at about $299,000. 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.