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

MaxLinear, Inc. (NASDAQ:MXL)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $13.32, but opened at $12.62. MaxLinear shares last traded at $12.78, with a volume of 140,576 shares.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MXL shares. Susquehanna decreased their target price on shares of MaxLinear from $25.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Wells Fargo & Company lifted their target price on shares of MaxLinear from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Northland Securities lifted their target price on shares of MaxLinear from $25.00 to $27.50 and gave the stock an “outperform” rating in a report on Monday, January 6th. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a report on Thursday, January 30th. Finally, Benchmark reissued a “buy” rating and set a $28.00 price objective on shares of MaxLinear in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, MaxLinear presently has an average rating of “Hold” and a consensus target price of $25.50.

MaxLinear Price Performance

The firm’s fifty day moving average price is $18.66 and its two-hundred day moving average price is $16.40. The company has a quick ratio of 1.28, a current ratio of 1.77 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $1.07 billion, a PE ratio of -4.31 and a beta of 1.77.

MaxLinear (NASDAQ:MXL) last announced its earnings results on Wednesday, January 29th. The semiconductor company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.14). MaxLinear had a negative net margin of 68.01% and a negative return on equity of 21.94%. On average, equities analysts predict that MaxLinear, Inc. will post -0.37 earnings per share for the current year.

Insider Activity at MaxLinear

In other MaxLinear news, insider Steven G. Litchfield sold 32,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $20.35, for a total value of $651,200.00. Following the completion of the transaction, the insider now directly owns 365,868 shares in the company, valued at $7,445,413.80. This represents a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MaxLinear

Hedge funds have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of MaxLinear by 5,114.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 126,863 shares of the semiconductor company’s stock worth $1,837,000 after purchasing an additional 124,430 shares during the period. Quantbot Technologies LP boosted its position in shares of MaxLinear by 111.7% in the third quarter. Quantbot Technologies LP now owns 66,363 shares of the semiconductor company’s stock worth $961,000 after purchasing an additional 35,018 shares during the period. Two Sigma Advisers LP boosted its position in shares of MaxLinear by 21.8% in the third quarter. Two Sigma Advisers LP now owns 694,149 shares of the semiconductor company’s stock worth $10,051,000 after purchasing an additional 124,300 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of MaxLinear by 339.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,250,769 shares of the semiconductor company’s stock worth $24,740,000 after purchasing an additional 966,468 shares during the period. Finally, Vaughan Nelson Investment Management L.P. bought a new position in shares of MaxLinear in the third quarter worth approximately $16,696,000. 90.79% of the stock is currently owned by institutional investors.

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.