MaxLinear (NASDAQ:MXL) Stock Breaks Below Two Hundred Day Moving Average – What’s Next?

MaxLinear, Inc (NASDAQ:MXL)’s stock price crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $59.99 and traded as low as $55.13. MaxLinear shares last traded at $56.85, with a volume of 4,046,973 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MXL. Needham & Company LLC increased their target price on shares of MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Wall Street Zen raised shares of MaxLinear from a “hold” rating to a “buy” rating in a research report on Sunday, July 26th. Wells Fargo & Company decreased their price objective on shares of MaxLinear from $95.00 to $78.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 20th. Morgan Stanley set a $125.00 price objective on shares of MaxLinear in a research report on Monday, September 14th. Finally, Susquehanna set a $70.00 price objective on MaxLinear in a research note on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.30.

MaxLinear Trading Up 11.0%

The company has a debt-to-equity ratio of 0.31, a current ratio of 2.22 and a quick ratio of 1.57. The business’s fifty day simple moving average is $76.26 and its 200 day simple moving average is $60.27. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of 97.35 and a beta of 3.97.

MaxLinear (NASDAQ:MXL) last issued its earnings results on Thursday, October 22nd. The semiconductor company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.06. MaxLinear had a positive return on equity of 12.89% and a negative net margin of 4.45%. The firm had revenue of $218.06 million for the quarter, compared to analyst estimates of $214.95 million. During the same period last year, the company earned $0.14 earnings per share. The firm’s revenue for the quarter was up 72.4% on a year-over-year basis. On average, research analysts predict that MaxLinear, Inc will post 1.10 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Kishore Seendripu sold 351,454 shares of the business’s stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 7.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. raised its position in shares of MaxLinear by 52.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 101,451 shares of the semiconductor company’s stock valued at $9,162,000 after buying an additional 34,793 shares in the last quarter. Maryland State Retirement & Pension System grew its position in MaxLinear by 53.9% in the third quarter. Maryland State Retirement & Pension System now owns 18,839 shares of the semiconductor company’s stock worth $1,701,000 after acquiring an additional 6,596 shares in the last quarter. Lisanti Capital Growth LLC grew its position in MaxLinear by 91.2% in the third quarter. Lisanti Capital Growth LLC now owns 40,945 shares of the semiconductor company’s stock worth $3,698,000 after acquiring an additional 19,535 shares in the last quarter. Ritholtz Wealth Management bought a new position in MaxLinear in the third quarter valued at $494,000. Finally, Knights of Columbus Asset Advisors LLC increased its stake in MaxLinear by 25.4% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 24,283 shares of the semiconductor company’s stock valued at $2,193,000 after acquiring an additional 4,919 shares during the last quarter. Institutional investors own 90.79% of the company’s stock.

MaxLinear Company Profile

MaxLinear, Inc is a fabless semiconductor company that designs, develops and sells integrated circuits and related solutions for broadband communications, wired and wireless infrastructure, data centers, industrial applications and consumer electronics. Its products are used by equipment manufacturers and service providers to support the transmission, processing and management of voice, video and data.

The company’s portfolio includes broadband access system-on-chip products, Ethernet transceivers and controllers, high-speed interconnect and communications devices, radio-frequency and analog products, optical and copper connectivity solutions, and power-management components.