MaxLinear (NASDAQ:MXL) Shares Down 5.6% – Here’s What Happened

MaxLinear, Inc (NASDAQ:MXL)’s stock price fell 5.6% during trading on Wednesday . The company traded as low as $18.77 and last traded at $18.7150. 440,875 shares were traded during mid-day trading, a decline of 63% from the average session volume of 1,194,298 shares. The stock had previously closed at $19.82.

Wall Street Analysts Forecast Growth

MXL has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their price objective on MaxLinear from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Friday, January 30th. Williams Trading set a $25.00 target price on shares of MaxLinear in a research report on Friday, October 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxLinear in a research note on Thursday, January 22nd. Stifel Nicolaus set a $23.00 price objective on shares of MaxLinear in a research note on Friday, October 24th. Finally, Benchmark boosted their price objective on shares of MaxLinear from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, January 16th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $19.57.

MaxLinear Stock Performance

The stock has a fifty day moving average price of $18.37 and a 200 day moving average price of $16.73. The company has a current ratio of 1.34, a quick ratio of 0.92 and a debt-to-equity ratio of 0.27. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -11.69 and a beta of 1.74.

MaxLinear (NASDAQ:MXL) last announced its earnings results on Thursday, January 29th. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. MaxLinear had a negative return on equity of 6.95% and a negative net margin of 29.23%.The firm had revenue of $136.44 million during the quarter, compared to analysts’ expectations of $134.82 million. During the same quarter in the prior year, the business earned ($0.09) earnings per share. The company’s revenue was up 48.0% on a year-over-year basis. As a group, analysts predict that MaxLinear, Inc will post -0.37 earnings per share for the current year.

MaxLinear declared that its Board of Directors has approved a stock repurchase program on Monday, November 24th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 5.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On MaxLinear

A number of institutional investors have recently made changes to their positions in MXL. XTX Topco Ltd boosted its stake in MaxLinear by 75.0% during the 4th quarter. XTX Topco Ltd now owns 54,622 shares of the semiconductor company’s stock valued at $952,000 after purchasing an additional 23,417 shares during the period. nVerses Capital LLC acquired a new position in shares of MaxLinear during the fourth quarter worth approximately $204,000. Twinbeech Capital LP bought a new stake in shares of MaxLinear in the fourth quarter valued at approximately $1,195,000. Man Group plc bought a new position in MaxLinear during the fourth quarter worth $1,018,000. Finally, Engineers Gate Manager LP raised its stake in MaxLinear by 77.7% during the 4th quarter. Engineers Gate Manager LP now owns 150,484 shares of the semiconductor company’s stock valued at $2,623,000 after purchasing an additional 65,809 shares during the last quarter. 90.79% of the stock is currently owned by institutional investors.

MaxLinear Company Profile

MaxLinear, Inc is a provider of radio-frequency (RF), analog, and mixed-signal integrated circuits for broadband communications, data center connectivity, and video infrastructure applications. The company’s product portfolio includes high-performance RF front-end modules, broadband power amplifiers, optical and Ethernet transceivers, and network processors designed to support demanding signal processing requirements.

MaxLinear’s semiconductor solutions are used by cable and satellite television operators, fiber-to-the-home service providers, network equipment manufacturers, and data center operators.