MaxLinear (NASDAQ:MXL) Stock Breaks Below Two Hundred Day Moving Average – Here’s Why

MaxLinear, Inc (NASDAQ:MXL)’s stock price passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $59.99 and traded as low as $55.13. MaxLinear shares last traded at $56.85, with a volume of 4,046,973 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MXL. Roth Capital lifted their price objective on MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Morgan Stanley set a $125.00 target price on shares of MaxLinear in a research note on Monday, September 14th. Needham & Company LLC raised their price target on shares of MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a report on Friday, July 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxLinear in a report on Thursday, October 15th. Finally, Wall Street Zen upgraded shares of MaxLinear from a “hold” rating to a “buy” rating in a research note on Sunday, July 26th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, MaxLinear currently has an average rating of “Moderate Buy” and an average price target of $94.30.

MaxLinear Trading Down 11.1%

The stock has a fifty day moving average of $76.92 and a 200 day moving average of $59.99. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.22. The company has a market capitalization of $5.17 billion, a PE ratio of -153.65 and a beta of 3.97.

MaxLinear (NASDAQ:MXL) last released its earnings results on Thursday, October 22nd. The semiconductor company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.56 by $0.06. MaxLinear had a negative net margin of 4.45% and a positive return on equity of 12.89%. The firm had revenue of $218.06 million for the quarter, compared to the consensus estimate of $214.95 million. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The company’s quarterly revenue was up 72.4% compared to the same quarter last year. As a group, sell-side analysts predict that MaxLinear, Inc will post 1.10 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Kishore Seendripu sold 351,454 shares of the 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 document filed with the SEC, which can be accessed through the SEC website. Insiders own 7.70% of the company’s stock.

Institutional Trading of MaxLinear

Several institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its position in MaxLinear by 0.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 50,881 shares of the semiconductor company’s stock valued at $4,687,000 after purchasing an additional 181 shares during the period. StoneRidge PMG Advisors LLC acquired a new stake in shares of MaxLinear during the third quarter worth $281,000. Kestra Advisory Services LLC purchased a new stake in shares of MaxLinear during the third quarter valued at $450,000. Commonwealth Equity Services LLC grew its holdings in shares of MaxLinear by 30.1% during the third quarter. Commonwealth Equity Services LLC now owns 8,817 shares of the semiconductor company’s stock valued at $796,000 after buying an additional 2,041 shares during the last quarter. Finally, Arlington Capital Management INC acquired a new position in shares of MaxLinear in the 3rd quarter valued at $3,786,000. Institutional investors own 90.79% of the company’s stock.

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.