MaxLinear (NASDAQ:MXL) Stock Price Down 5.6% – What’s Next?

MaxLinear, Inc (NASDAQ:MXL)’s stock price fell 5.6% during mid-day trading on Wednesday . The stock traded as low as $18.77 and last traded at $18.7150. 440,875 shares traded hands during trading, a decline of 63% from the average session volume of 1,194,298 shares. The stock had previously closed at $19.82.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MXL shares. Benchmark lifted their target price on MaxLinear from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Wells Fargo & Company upped their price target on MaxLinear from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. Williams Trading set a $25.00 price objective on MaxLinear in a report on Friday, October 24th. Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a research report on Thursday, January 22nd. Finally, Stifel Nicolaus set a $23.00 target price on MaxLinear in a research note on Friday, October 24th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $19.57.

MaxLinear Trading Down 6.8%

The company has a 50 day moving average of $18.37 and a 200 day moving average of $16.73. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -11.69 and a beta of 1.74. The company has a current ratio of 1.34, a quick ratio of 0.92 and a debt-to-equity ratio of 0.27.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings data on Thursday, January 29th. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. MaxLinear had a negative return on equity of 6.95% and a negative net margin of 29.23%.The firm had revenue of $136.44 million during the quarter, compared to analyst estimates of $134.82 million. During the same period in the prior year, the company posted ($0.09) earnings per share. The business’s revenue for the quarter was up 48.0% compared to the same quarter last year. As a group, research analysts anticipate that MaxLinear, Inc will post -0.37 EPS for the current year.

MaxLinear declared that its Board of Directors has initiated a stock repurchase plan on Monday, November 24th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the semiconductor company to purchase up to 5.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of MaxLinear

Several hedge funds have recently modified their holdings of the company. Larson Financial Group LLC raised its position in shares of MaxLinear by 161.7% during the fourth quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 875 shares during the last quarter. Smartleaf Asset Management LLC increased its position in MaxLinear by 103.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 726 shares during the period. Northwestern Mutual Wealth Management Co. bought a new stake in shares of MaxLinear during the fourth quarter worth approximately $25,000. International Assets Investment Management LLC bought a new stake in shares of MaxLinear during the 4th quarter valued at $27,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of MaxLinear by 97.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 1,039 shares during the last quarter. Institutional investors and hedge funds own 90.79% of the company’s stock.

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.