MaxLinear (NASDAQ:MXL) Shares Gap Down – What’s Next?

MaxLinear, Inc. (NASDAQ:MXL) shares gapped down before the market opened on Thursday . The stock had previously closed at $13.32, but opened at $12.62. MaxLinear shares last traded at $12.78, with a volume of 140,576 shares.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MXL shares. Northland Securities raised their target price on shares of MaxLinear from $25.00 to $27.50 and gave the company an “outperform” rating in a report on Monday, January 6th. Benchmark reissued a “buy” rating and issued a $28.00 price objective on shares of MaxLinear in a research note on Thursday, January 30th. Needham & Company LLC restated a “hold” rating on shares of MaxLinear in a research note on Thursday, January 30th. Wells Fargo & Company raised their target price on MaxLinear from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Finally, Susquehanna lowered their price target on MaxLinear from $25.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, MaxLinear currently has an average rating of “Hold” and an average price target of $25.50.

MaxLinear Price Performance

The business’s 50-day simple moving average is $18.84 and its two-hundred day simple moving average is $16.43. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -4.21 and a beta of 1.77. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.77 and a quick ratio of 1.28.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.14). MaxLinear had a negative net margin of 68.01% and a negative return on equity of 21.94%. Research analysts expect that MaxLinear, Inc. will post -0.37 earnings per share for the current year.

Insider Transactions at MaxLinear

In other news, insider Steven G. Litchfield sold 32,000 shares of MaxLinear stock in a transaction on Friday, December 13th. The shares were sold at an average price of $20.35, for a total transaction of $651,200.00. Following the transaction, the insider now owns 365,868 shares in the company, valued at approximately $7,445,413.80. The trade was a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC raised its position in shares of MaxLinear by 1,348.0% during the third quarter. International Assets Investment Management LLC now owns 22,632 shares of the semiconductor company’s stock worth $328,000 after acquiring an additional 21,069 shares during the last quarter. Nisa Investment Advisors LLC increased its position in MaxLinear by 20.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 7,761 shares of the semiconductor company’s stock valued at $112,000 after purchasing an additional 1,308 shares during the period. Entropy Technologies LP bought a new position in MaxLinear during the 3rd quarter worth approximately $221,000. GSA Capital Partners LLP acquired a new position in shares of MaxLinear in the 3rd quarter worth approximately $833,000. Finally, Victory Capital Management Inc. boosted its stake in shares of MaxLinear by 103.3% in the 3rd quarter. Victory Capital Management Inc. now owns 156,269 shares of the semiconductor company’s stock valued at $2,263,000 after purchasing an additional 79,392 shares during the last quarter. 90.79% of the stock is owned by institutional investors and hedge funds.

About MaxLinear

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.