MaxLinear (NASDAQ:MXL) Shares Gap Down – Time to Sell?

MaxLinear, Inc (NASDAQ:MXL) shares gapped down prior to trading on Tuesday . The stock had previously closed at $84.76, but opened at $79.09. MaxLinear shares last traded at $76.8760, with a volume of 550,890 shares trading hands.

Wall Street Analysts Forecast Growth

MXL has been the topic of a number of research analyst reports. Stifel Nicolaus upped their target price on shares of MaxLinear from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, July 24th. Wall Street Zen raised MaxLinear from a “hold” rating to a “buy” rating in a research report on Sunday, July 26th. Roth Capital upped their price objective on MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Loop Capital raised MaxLinear from a “hold” rating to a “buy” rating and raised their price objective for the company from $17.00 to $75.00 in a research report on Wednesday, April 29th. Finally, Benchmark started coverage on MaxLinear in a research report on Wednesday, May 27th. They issued a “buy” rating and a $125.00 price objective for the company. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $85.00.

MaxLinear Stock Performance

The stock has a market capitalization of $6.64 billion, a price-to-earnings ratio of -61.98 and a beta of 3.96. The company’s fifty day simple moving average is $82.95 and its 200 day simple moving average is $55.90. The company has a quick ratio of 1.15, a current ratio of 1.78 and a debt-to-equity ratio of 0.26.

MaxLinear (NASDAQ:MXL) last posted its earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The company 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%. MaxLinear’s quarterly revenue was up 55.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.02 EPS. On average, equities research analysts expect that MaxLinear, Inc will post 0.78 earnings per share for the current year.

Insiders Place Their Bets

In other MaxLinear news, Director Thomas E. Pardun sold 11,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $105.00, for a total transaction of $1,155,000.00. Following the completion of the sale, the director directly owned 55,252 shares in the company, valued at $5,801,460. This trade represents a 16.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 7.70% of the stock is currently owned by corporate insiders.

Institutional Trading of MaxLinear

Several institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in MaxLinear by 16.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock worth $27,000 after buying an additional 217 shares during the period. GAMMA Investing LLC grew its stake in shares of MaxLinear by 5.6% in the second quarter. GAMMA Investing LLC now owns 6,152 shares of the semiconductor company’s stock valued at $788,000 after acquiring an additional 326 shares in the last quarter. Carolina Wealth Advisors LLC acquired a new position in shares of MaxLinear in the second quarter valued at about $47,000. Global Retirement Partners LLC bought a new position in MaxLinear during the second quarter worth about $56,000. Finally, Captrust Financial Advisors raised its stake in MaxLinear by 4.3% in the 4th quarter. Captrust Financial Advisors now owns 14,074 shares of the semiconductor company’s stock worth $245,000 after purchasing an additional 577 shares in the last quarter. 90.79% of the stock is currently owned by institutional investors.

About MaxLinear

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.