MaxLinear (NASDAQ:MXL) Stock Price Down 5.3% – Time to Sell?

MaxLinear, Inc (NASDAQ:MXL) shares fell 5.3% during mid-day trading on Tuesday . The company traded as low as $56.47 and last traded at $56.7560. Approximately 282,546 shares changed hands during trading, a decline of 91% from the average session volume of 3,116,958 shares. The stock had previously closed at $59.91.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a research note on Friday, July 17th. Northland Securities set a $110.00 price objective on MaxLinear in a research note on Wednesday, June 3rd. Benchmark started coverage on MaxLinear in a research note on Wednesday, May 27th. They issued a “buy” rating and a $125.00 target price for the company. Needham & Company LLC lifted their price objective on shares of MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Finally, Roth Capital boosted 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. Five equities research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $85.00.

MaxLinear Stock Down 4.5%

The company has a quick ratio of 1.15, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. The firm’s 50-day moving average price is $79.11 and its 200 day moving average price is $59.19. The firm has a market cap of $5.19 billion, a P/E ratio of -48.13 and a beta of 3.95.

MaxLinear (NASDAQ:MXL) last issued 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 negative net margin of 18.24% and a positive return on equity of 2.24%. The firm had revenue of $168.85 million for the quarter, compared to the consensus estimate of $164.64 million. During the same period last year, the firm posted $0.02 EPS. MaxLinear’s quarterly revenue was up 55.2% compared to the same quarter last year. As a group, research analysts expect that MaxLinear, Inc will post 0.78 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Kishore Seendripu sold 351,454 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $85.95, for a total value of $30,207,471.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.70% of the stock is owned by insiders.

Institutional Investors Weigh In On MaxLinear

A number of institutional investors have recently added to or reduced their stakes in MXL. Royal Bank of Canada raised its position in MaxLinear by 3.1% in the first quarter. Royal Bank of Canada now owns 72,664 shares of the semiconductor company’s stock worth $789,000 after acquiring an additional 2,204 shares in the last quarter. AQR Capital Management LLC boosted its holdings in MaxLinear by 56.0% during the first quarter. AQR Capital Management LLC now owns 296,297 shares of the semiconductor company’s stock worth $3,218,000 after buying an additional 106,355 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of MaxLinear by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,437 shares of the semiconductor company’s stock valued at $515,000 after acquiring an additional 2,043 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of MaxLinear by 0.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 535,230 shares of the semiconductor company’s stock worth $5,813,000 after acquiring an additional 2,039 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of MaxLinear by 23.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 182,362 shares of the semiconductor company’s stock worth $1,980,000 after acquiring an additional 35,152 shares during the last quarter. 90.79% of the stock is currently owned by institutional investors and hedge funds.

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.