MaxLinear (NASDAQ:MXL) Stock Price Down 7.1% – Should You Sell?

MaxLinear, Inc (NASDAQ:MXL) shares were down 7.1% during mid-day trading on Thursday. The company traded as low as $100.33 and last traded at $99.6950. 1,217,464 shares were traded during trading, a decline of 61% from the average session volume of 3,098,906 shares. The stock had previously closed at $107.36.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Wells Fargo & Company boosted their target price on MaxLinear from $42.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, July 20th. Needham & Company LLC lifted their price target on MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a report on Friday, July 24th. Stifel Nicolaus boosted their price target on MaxLinear from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Wall Street Zen upgraded MaxLinear from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. Finally, Roth Capital increased 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. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $88.64.

MaxLinear Price Performance

The company’s 50-day simple moving average is $75.29 and its 200 day simple moving average is $71.12. The company has a quick ratio of 1.15, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $8.73 billion, a price-to-earnings ratio of -81.56 and a beta of 3.93.

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

Insiders Place Their Bets

In other MaxLinear news, CEO Kishore Seendripu sold 351,454 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $85.95, for a total transaction of $30,207,471.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On MaxLinear

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. acquired a new stake in shares of MaxLinear in the second quarter worth $205,000. Revere Asset Management Inc bought a new position in MaxLinear in the 2nd quarter worth $1,139,000. Sequoia Financial Advisors LLC acquired a new position in MaxLinear during the 2nd quarter worth $230,000. Tidal Investments LLC lifted its position in MaxLinear by 23.4% during the 2nd quarter. Tidal Investments LLC now owns 56,467 shares of the semiconductor company’s stock worth $7,229,000 after acquiring an additional 10,700 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new stake in MaxLinear during the second quarter valued at about $322,000. Institutional investors and hedge funds own 90.79% of the company’s stock.

About MaxLinear

MaxLinear, Inc is a fabless semiconductor company that develops high-performance analog and mixed-signal integrated circuits for communications and connectivity applications. Its products are designed to help equipment manufacturers process, transmit and manage data across broadband, wired and wireless infrastructure, data center, and industrial systems.

The company’s product portfolio includes broadband access and connectivity solutions, RF and microwave components, Ethernet and high-speed interconnect products, optical networking technologies, and power-management devices.