MaxLinear (NYSE:MXL) Shares Gap Down to $14.48

MaxLinear, Inc. (NYSE:MXL)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $14.48, but opened at $13.94. MaxLinear shares last traded at $13.61, with a volume of 63,209 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently weighed in on MXL. Northland Securities reduced their price target on MaxLinear from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Stifel Nicolaus boosted their target price on shares of MaxLinear from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Susquehanna cut shares of MaxLinear from a “positive” rating to a “neutral” rating and decreased their price target for the company from $26.00 to $15.00 in a research report on Tuesday. Benchmark cut their price target on shares of MaxLinear from $28.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Finally, Craig Hallum decreased their price objective on MaxLinear from $38.00 to $28.00 and set a “hold” rating for the company in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $23.44.

MaxLinear Stock Down 9.0 %

The company has a quick ratio of 1.59, a current ratio of 2.09 and a debt-to-equity ratio of 0.20. The stock’s 50-day simple moving average is $13.91 and its 200 day simple moving average is $17.83. The firm has a market cap of $1.10 billion, a P/E ratio of -7.05 and a beta of 1.84.

MaxLinear (NYSE:MXL) last announced its earnings results on Wednesday, July 24th. The semiconductor company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.06). The business had revenue of $92.00 million for the quarter, compared to the consensus estimate of $100.25 million. MaxLinear had a negative net margin of 42.38% and a negative return on equity of 12.39%. The firm’s revenue for the quarter was down 50.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.19 EPS. As a group, research analysts forecast that MaxLinear, Inc. will post -1.6 EPS for the current fiscal year.

Insider Activity at MaxLinear

In related news, CEO Kishore Seendripu purchased 108,303 shares of MaxLinear stock in a transaction on Tuesday, July 30th. The stock was acquired at an average cost of $12.94 per share, for a total transaction of $1,401,440.82. Following the completion of the acquisition, the chief executive officer now owns 531,937 shares of the company’s stock, valued at approximately $6,883,264.78. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 8.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MaxLinear

A number of hedge funds have recently added to or reduced their stakes in the company. Simplicity Wealth LLC grew its holdings in shares of MaxLinear by 3.1% during the second quarter. Simplicity Wealth LLC now owns 19,283 shares of the semiconductor company’s stock valued at $388,000 after buying an additional 579 shares during the last quarter. ProShare Advisors LLC increased its holdings in MaxLinear by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 15,304 shares of the semiconductor company’s stock worth $286,000 after purchasing an additional 1,061 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of MaxLinear by 3.0% in the second quarter. Louisiana State Employees Retirement System now owns 38,000 shares of the semiconductor company’s stock worth $765,000 after purchasing an additional 1,100 shares during the last quarter. Swiss National Bank lifted its holdings in shares of MaxLinear by 0.9% in the first quarter. Swiss National Bank now owns 152,973 shares of the semiconductor company’s stock valued at $2,856,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Texas Permanent School Fund Corp lifted its holdings in shares of MaxLinear by 2.2% in the first quarter. Texas Permanent School Fund Corp now owns 65,248 shares of the semiconductor company’s stock valued at $1,218,000 after purchasing an additional 1,375 shares in the last quarter. Institutional investors and hedge funds own 90.79% of the company’s stock.

MaxLinear Company Profile

MaxLinear, Inc provides communications systems-on-chip solutions worldwide. Its products integrate various portions of a high-speed communication system, including radio frequency, high-performance analog, mixed-signal, digital signal processing, security engines, data compression and networking layers, and power management.