MaxLinear (NASDAQ:MXL) Stock Price Down 6.9% – Time to Sell?

MaxLinear, Inc (NASDAQ:MXL)’s stock price fell 6.9% on Monday. The stock traded as low as $88.80 and last traded at $87.3770. Approximately 389,368 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 3,101,439 shares. The stock had previously closed at $93.84.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MXL. Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a research report on Friday, July 17th. Wells Fargo & Company raised their price target on MaxLinear from $42.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, July 20th. Northland Securities set a $110.00 price objective on MaxLinear in a research report on Wednesday, June 3rd. Wall Street Zen raised MaxLinear from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. Finally, Morgan Stanley set a $125.00 target price on MaxLinear in a research note on Monday, September 14th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, MaxLinear has a consensus rating of “Hold” and an average target price of $88.64.

MaxLinear Stock Down 3.8%

The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.15. The stock has a market capitalization of $8.19 billion, a PE ratio of -75.69 and a beta of 3.93. The company has a 50 day moving average price of $71.26 and a 200-day moving average price of $66.48.

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

Insider Activity

In other MaxLinear news, CEO Kishore Seendripu sold 351,454 shares of the stock in a transaction 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 filing with the SEC, which is available through this link. Corporate insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On MaxLinear

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of MaxLinear during the 2nd quarter valued at approximately $1,754,062,000. The Manufacturers Life Insurance Company bought a new stake in shares of MaxLinear during the 2nd quarter valued at $165,221,000. AIGH Capital Management LLC bought a new stake in shares of MaxLinear during the 2nd quarter valued at $104,729,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of MaxLinear during the 2nd quarter valued at $81,056,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of MaxLinear during the 2nd quarter valued at $65,213,000. Institutional investors own 90.79% of the company’s stock.

MaxLinear Company Profile

MaxLinear, Inc is a fabless semiconductor company that designs and develops high-performance analog and mixed-signal integrated circuits. Its products are used in broadband communications, wired and wireless infrastructure, data center, networking, and industrial applications.

The company’s portfolio includes solutions for broadband access and connectivity, including cable and fiber-optic infrastructure, Ethernet and high-speed interconnects, optical communications, power management, interface products, and embedded processors.