MaxLinear (NASDAQ:MXL) Shares Gap Down – Here’s What Happened

MaxLinear, Inc. (NASDAQ:MXL) shares gapped down before the market opened on Thursday . The stock had previously closed at $20.29, but opened at $19.51. MaxLinear shares last traded at $20.13, with a volume of 77,935 shares changing hands.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Wells Fargo & Company began coverage on MaxLinear in a research report on Friday, November 22nd. They set an “equal weight” rating and a $14.00 target price on the stock. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a research report on Thursday, October 24th. Benchmark raised their price target on shares of MaxLinear from $22.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Susquehanna downgraded MaxLinear from a “positive” rating to a “neutral” rating and cut their target price for the company from $26.00 to $15.00 in a research report on Tuesday, October 1st. Finally, Craig Hallum lowered their price target on MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $23.14.

MaxLinear Trading Up 1.4 %

The company has a current ratio of 1.95, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of -7.57 and a beta of 1.87. The company has a fifty day moving average price of $16.20 and a 200-day moving average price of $16.18.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). The company had revenue of $81.10 million during the quarter, compared to analyst estimates of $80.40 million. MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. The company’s revenue was down 40.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.02) earnings per share. As a group, research analysts expect that MaxLinear, Inc. will post -1.66 EPS for the current year.

Insider Buying and Selling at MaxLinear

In other MaxLinear news, VP William Torgerson sold 6,100 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $15.40, for a total value of $93,940.00. Following the sale, the vice president now directly owns 179,262 shares of the company’s stock, valued at approximately $2,760,634.80. This trade represents a 3.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Connie H. Kwong sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $18.61, for a total value of $93,050.00. Following the transaction, the insider now directly owns 49,147 shares of the company’s stock, valued at approximately $914,625.67. The trade was a 9.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,900 shares of company stock valued at $927,278. Corporate insiders own 8.60% of the company’s stock.

Institutional Trading of MaxLinear

Institutional investors have recently modified their holdings of the stock. Louisiana State Employees Retirement System grew its stake in MaxLinear by 3.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 38,000 shares of the semiconductor company’s stock valued at $765,000 after acquiring an additional 1,100 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in MaxLinear by 20.3% during the third quarter. Nisa Investment Advisors LLC now owns 7,761 shares of the semiconductor company’s stock worth $112,000 after buying an additional 1,308 shares during the last quarter. Innealta Capital LLC purchased a new stake in MaxLinear in the 2nd quarter valued at $30,000. International Assets Investment Management LLC acquired a new stake in shares of MaxLinear in the 2nd quarter worth $31,000. Finally, GAMMA Investing LLC increased its position in MaxLinear by 151.8% during the third quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 2,093 shares during the last quarter. Institutional investors and hedge funds own 90.79% of the company’s stock.

MaxLinear Company Profile

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.