MaxLinear (NASDAQ:MXL) Trading Down 5.4% – Should You Sell?

MaxLinear, Inc. (NASDAQ:MXL) traded down 5.4% during trading on Thursday . The stock traded as low as $17.93 and last traded at $17.82. 57,072 shares traded hands during trading, a decline of 97% from the average session volume of 2,265,686 shares. The stock had previously closed at $18.84.

Wall Street Analysts Forecast Growth

MXL has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their target price on shares of MaxLinear from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Needham & Company LLC restated a “hold” rating on shares of MaxLinear in a research report on Thursday, January 30th. Susquehanna cut their target price on shares of MaxLinear from $25.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Benchmark reissued a “buy” rating and issued a $28.00 target price on shares of MaxLinear in a research note on Thursday, January 30th. Finally, Craig Hallum dropped their price target on MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. 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’s stock. According to data from MarketBeat.com, MaxLinear has a consensus rating of “Hold” and an average target price of $25.50.

MaxLinear Stock Down 7.7 %

The firm’s 50 day simple moving average is $20.11 and its two-hundred day simple moving average is $16.21. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.77 and a quick ratio of 1.28.

MaxLinear (NASDAQ:MXL) last released its earnings results on Wednesday, January 29th. The semiconductor company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates 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 anticipate that MaxLinear, Inc. will post -0.37 EPS for the current fiscal year.

Insider Activity

In other MaxLinear news, Director Ted L. Tewksbury III sold 5,800 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $15.36, for a total transaction of $89,088.00. Following the completion of the transaction, the director now owns 69,717 shares of the company’s stock, valued at $1,070,853.12. This represents a 7.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Steven G. Litchfield sold 32,000 shares of MaxLinear stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $20.35, for a total value of $651,200.00. Following the completion of the sale, the insider now owns 365,868 shares in the company, valued at approximately $7,445,413.80. This represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,800 shares of company stock valued at $833,338. 8.60% of the stock is currently owned by company insiders.

Institutional Trading of MaxLinear

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MXL. Point72 Asia Singapore Pte. Ltd. raised its holdings in MaxLinear by 5,114.3% in the 3rd 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 in the last quarter. Quantbot Technologies LP raised its stake in 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 buying an additional 35,018 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in 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 buying an additional 124,300 shares during the period. Assenagon Asset Management S.A. boosted its position in MaxLinear by 339.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,250,769 shares of the semiconductor company’s stock valued at $24,740,000 after acquiring an additional 966,468 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in shares of MaxLinear during the 3rd quarter worth approximately $16,696,000. Hedge funds and other institutional investors own 90.79% of the company’s stock.

About MaxLinear

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.