MaxLinear (NASDAQ:MXL) Hits New 1-Year Low - Here's What Happened

MaxLinear, Inc. (NASDAQ:MXL - Get Free Report)'s stock price reached a new 52-week low on Friday . The company traded as low as $11.01 and last traded at $11.11, with a volume of 373332 shares traded. The stock had previously closed at $11.94.

Wall Street Analysts Forecast Growth

MXL has been the subject of a number of research analyst reports. Northland Securities upped 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. Susquehanna decreased their price objective on shares of MaxLinear from $25.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, January 30th. Needham & Company LLC reissued a "hold" rating on shares of MaxLinear in a research report on Thursday, January 30th. Benchmark restated a "buy" rating and set a $28.00 target price on shares of MaxLinear in a report on Thursday, January 30th. Finally, Wells Fargo & Company upped 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $25.50.

MaxLinear Price Performance

The company has a current ratio of 1.77, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24. The stock has a market cap of $985.99 million, a PE ratio of -3.98 and a beta of 1.76. The company's 50 day moving average is $15.74 and its 200-day moving average is $16.34.

MaxLinear (NASDAQ:MXL - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported ($0.27) EPS 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%. As a group, sell-side analysts predict that MaxLinear, Inc. will post -0.37 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in shares of MaxLinear by 5.1% in the 3rd quarter. State Street Corp now owns 4,123,419 shares of the semiconductor company's stock valued at $59,707,000 after purchasing an additional 198,791 shares in the last quarter. Geode Capital Management LLC lifted its holdings in MaxLinear by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,805,722 shares of the semiconductor company's stock worth $26,152,000 after buying an additional 6,420 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of MaxLinear by 3,698.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,525,419 shares of the semiconductor company's stock worth $30,173,000 after acquiring an additional 1,485,256 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of MaxLinear in the 4th quarter valued at approximately $25,659,000. Finally, Vaughan Nelson Investment Management L.P. raised its position in shares of MaxLinear by 10.0% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,268,857 shares of the semiconductor company's stock valued at $25,098,000 after acquiring an additional 115,867 shares in the last quarter. 90.79% of the stock is currently owned by institutional investors.

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.