MaxLinear (NASDAQ:MXL) Stock Price Down 10.7% – Should You Sell?

MaxLinear, Inc (NASDAQ:MXL) traded down 10.7% on Thursday. The company traded as low as $68.80 and last traded at $67.7140. 675,602 shares were traded during trading, a decline of 78% from the average daily volume of 3,110,126 shares. The stock had previously closed at $75.79.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MXL. Needham & Company LLC upped their target price on MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Susquehanna increased their target price on MaxLinear from $45.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a research report on Thursday, October 15th. Roth Capital raised their price target 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. Finally, Stifel Nicolaus lifted their price target on shares of MaxLinear from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $88.91.

MaxLinear Stock Down 13.9%

The firm has a market cap of $5.92 billion, a P/E ratio of -54.86 and a beta of 3.93. The firm’s 50-day moving average price is $77.78 and its 200 day moving average price is $75.70. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.15.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings data on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $168.85 million during the quarter, compared to analyst estimates of $164.64 million. During the same period in the previous year, the company earned $0.02 earnings per share. MaxLinear’s quarterly revenue was up 55.2% on a year-over-year basis. On average, equities research analysts expect that MaxLinear, Inc will post 0.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Kishore Seendripu sold 351,454 shares of MaxLinear stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $85.95, for a total value of $30,207,471.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 7.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MaxLinear

A number of institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake 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 last quarter. Ameritas Advisory Services LLC bought a new stake in MaxLinear during the second quarter valued at $32,000. KBC Group NV bought a new stake in MaxLinear during the first quarter valued at $35,000. Reyes Financial Architecture Inc. bought a new stake in MaxLinear during the third quarter valued at $44,000. Finally, Carolina Wealth Advisors LLC acquired a new stake in shares of MaxLinear during the second quarter worth $47,000. 90.79% of the stock is currently owned by institutional investors.

About MaxLinear

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.