MaxLinear (NASDAQ:MXL) Stock Breaks Below Two Hundred Day Moving Average – Here’s Why

MaxLinear, Inc (NASDAQ:MXL) shares crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $59.99 and traded as low as $55.13. MaxLinear shares last traded at $56.85, with a volume of 4,046,973 shares.

Analyst Upgrades and Downgrades

MXL has been the topic of a number of research reports. Susquehanna set a $70.00 price objective on MaxLinear in a report on Friday, October 23rd. Wall Street Zen upgraded shares of MaxLinear from a “hold” rating to a “buy” rating in a research report on Sunday, July 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a research note on Thursday, October 15th. Stifel Nicolaus lifted their price target on shares of MaxLinear from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Finally, Zacks Research upgraded shares of MaxLinear from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, MaxLinear presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.30.

MaxLinear Stock Performance

The company’s 50-day moving average price is $76.92 and its 200 day moving average price is $59.99. The stock has a market capitalization of $5.17 billion, a PE ratio of -153.65 and a beta of 3.97. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.22.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings results on Thursday, October 22nd. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.06. MaxLinear had a negative net margin of 4.45% and a positive return on equity of 12.89%. The company had revenue of $218.06 million during the quarter, compared to the consensus estimate of $214.95 million. During the same period in the prior year, the firm earned $0.14 earnings per share. MaxLinear’s revenue was up 72.4% on a year-over-year basis. On average, equities research analysts expect that MaxLinear, Inc will post 1.10 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MaxLinear news, CEO Kishore Seendripu sold 351,454 shares of the firm’s 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 7.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Ameritas Advisory Services LLC purchased a new position in MaxLinear in the second quarter worth about $32,000. Carolina Wealth Advisors LLC purchased a new stake in shares of MaxLinear during the second quarter valued at approximately $47,000. Global Retirement Partners LLC bought a new stake in shares of MaxLinear during the second quarter valued at approximately $56,000. Reyes Financial Architecture Inc. purchased a new position in MaxLinear in the 3rd quarter worth approximately $44,000. Finally, NFSG Corp lifted its position in MaxLinear by 284.0% in the 3rd quarter. NFSG Corp now owns 960 shares of the semiconductor company’s stock valued at $87,000 after acquiring an additional 710 shares in the last quarter. 90.79% of the stock is currently owned by institutional investors.

MaxLinear Company Profile

MaxLinear, Inc is a fabless semiconductor company that designs, develops and sells integrated circuits and related solutions for broadband communications, wired and wireless infrastructure, data centers, industrial applications and consumer electronics. Its products are used by equipment manufacturers and service providers to support the transmission, processing and management of voice, video and data.

The company’s portfolio includes broadband access system-on-chip products, Ethernet transceivers and controllers, high-speed interconnect and communications devices, radio-frequency and analog products, optical and copper connectivity solutions, and power-management components.