MaxLinear (NASDAQ:MXL) Shares Gap Down – Time to Sell?

MaxLinear, Inc (NASDAQ:MXL) shares gapped down prior to trading on Monday . The stock had previously closed at $66.82, but opened at $62.22. MaxLinear shares last traded at $63.94, with a volume of 420,467 shares.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $40.00 price target on shares of MaxLinear in a research note on Friday, April 24th. Northland Securities set a $110.00 target price on MaxLinear in a report on Wednesday, June 3rd. Loop Capital raised MaxLinear from a “hold” rating to a “buy” rating and increased their target price for the stock from $17.00 to $75.00 in a research note on Wednesday, April 29th. Susquehanna raised their price target on MaxLinear from $45.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Finally, Benchmark initiated coverage on shares of MaxLinear in a research note on Wednesday, May 27th. They issued a “buy” rating and a $125.00 price target on the stock. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $85.00.

MaxLinear Price Performance

The firm has a market capitalization of $6.59 billion, a P/E ratio of -61.11 and a beta of 3.95. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.15 and a current ratio of 1.78. The firm has a 50-day moving average of $85.79 and a 200-day moving average of $52.39.

MaxLinear (NASDAQ:MXL) last posted its earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $168.85 million during the quarter, compared to analyst estimates of $164.64 million. MaxLinear had a positive return on equity of 2.24% and a negative net margin of 18.24%.The company’s quarterly revenue was up 55.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.02 EPS. As a group, analysts predict that MaxLinear, Inc will post 0.78 EPS for the current year.

Insider Transactions at MaxLinear

In other news, insider Connie H. Kwong sold 35,000 shares of MaxLinear stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $96.96, for a total value of $3,393,600.00. Following the completion of the sale, the insider directly owned 13,947 shares in the company, valued at $1,352,301.12. The trade was a 71.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas E. Pardun sold 11,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $105.00, for a total transaction of $1,155,000.00. Following the transaction, the director directly owned 55,252 shares of the company’s stock, valued at $5,801,460. The trade was a 16.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On MaxLinear

Institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada boosted 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 purchasing an additional 2,204 shares during the last quarter. AQR Capital Management LLC increased 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 valued at $3,218,000 after buying an additional 106,355 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in MaxLinear by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,437 shares of the semiconductor company’s stock worth $515,000 after acquiring an additional 2,043 shares during the period. 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 during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of MaxLinear by 23.9% during 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 hedge funds and other institutional investors.

About MaxLinear

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.