MaxLinear (NASDAQ:MXL) Shares Gap Down – Should You Sell?

Shares of MaxLinear, Inc. (NASDAQ:MXL) gapped down before the market opened on Friday . The stock had previously closed at $10.09, but opened at $9.80. MaxLinear shares last traded at $9.73, with a volume of 56,552 shares.

Analysts Set New Price Targets

MXL has been the topic of several research analyst reports. Wells Fargo & Company raised their price target on shares of MaxLinear from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Susquehanna cut their price target on MaxLinear from $25.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Northland Securities lifted their price objective on MaxLinear from $25.00 to $27.50 and gave the stock an “outperform” rating in a report on Monday, January 6th. Needham & Company LLC restated a “hold” rating on shares of MaxLinear in a research note on Thursday, January 30th. Finally, Benchmark reiterated a “buy” rating and set a $28.00 price target on shares of MaxLinear in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, MaxLinear currently has an average rating of “Hold” and a consensus target price of $25.50.

MaxLinear Stock Down 4.0 %

The stock has a market capitalization of $819.85 million, a price-to-earnings ratio of -3.32 and a beta of 1.82. The firm has a 50 day simple moving average of $13.60 and a 200-day simple moving average of $16.04. 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 announced its earnings results on Wednesday, January 29th. The semiconductor company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.14). MaxLinear had a negative return on equity of 21.94% and a negative net margin of 68.01%. On average, sell-side analysts forecast that MaxLinear, Inc. will post -0.37 EPS for the current fiscal year.

Institutional Investors Weigh In On MaxLinear

A number of hedge funds and other institutional investors have recently bought and sold shares of MXL. The Manufacturers Life Insurance Company grew its holdings in shares of MaxLinear by 3,698.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,525,419 shares of the semiconductor company’s stock worth $30,173,000 after purchasing an additional 1,485,256 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in MaxLinear during the 4th quarter worth about $25,659,000. Schonfeld Strategic Advisors LLC bought a new stake in MaxLinear during the 4th quarter worth about $25,027,000. Point72 Asset Management L.P. increased its position in MaxLinear by 1,813.5% in the 4th quarter. Point72 Asset Management L.P. now owns 1,256,300 shares of the semiconductor company’s stock valued at $24,850,000 after acquiring an additional 1,190,647 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake 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 acquiring an additional 966,468 shares during the last quarter. 90.79% of the stock is owned by institutional investors and hedge funds.

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.