Shares of MaxLinear, Inc. (NASDAQ:MXL - Get Free Report) gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $21.79, but opened at $19.74. MaxLinear shares last traded at $18.77, with a volume of 603,625 shares trading hands.
The semiconductor company reported ($0.27) earnings per share 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%.
Analyst Upgrades and Downgrades
MXL has been the subject of several recent research reports. Needham & Company LLC reissued a "hold" rating on shares of MaxLinear in a research report on Thursday. Susquehanna lowered their price target on MaxLinear from $25.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday. Benchmark reissued a "buy" rating and issued a $28.00 price objective on shares of MaxLinear in a report on Thursday. Wells Fargo & Company upped their price target on MaxLinear from $19.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Thursday. Finally, Craig Hallum cut their price target on MaxLinear from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, MaxLinear presently has a consensus rating of "Hold" and an average target price of $25.50.
Get Our Latest Stock Analysis on MXL
Insider Activity
In other MaxLinear news, insider Steven G. Litchfield sold 32,000 shares of the firm's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $20.35, for a total value of $651,200.00. Following the sale, the insider now directly owns 365,868 shares of the company's stock, valued at approximately $7,445,413.80. This trade represents a 8.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP William Torgerson sold 6,100 shares of the firm's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $15.40, for a total value of $93,940.00. Following the completion of the transaction, the vice president now owns 179,262 shares in the company, valued at approximately $2,760,634.80. This trade represents a 3.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,900 shares of company stock worth $927,278 over the last 90 days. 8.60% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On MaxLinear
Large investors have recently modified their holdings of the company. Handelsbanken Fonder AB raised its holdings in shares of MaxLinear by 45.8% during the 4th quarter. Handelsbanken Fonder AB now owns 29,281 shares of the semiconductor company's stock valued at $580,000 after buying an additional 9,200 shares during the period. Principal Financial Group Inc. grew its position in shares of MaxLinear by 3.5% in the 4th quarter. Principal Financial Group Inc. now owns 374,722 shares of the semiconductor company's stock worth $7,412,000 after acquiring an additional 12,838 shares in the last quarter. Rhumbline Advisers grew its position in shares of MaxLinear by 2.9% in the 4th quarter. Rhumbline Advisers now owns 225,145 shares of the semiconductor company's stock worth $4,453,000 after acquiring an additional 6,385 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in 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 purchasing an additional 115,867 shares during the period. Finally, R Squared Ltd acquired a new position in MaxLinear during the 4th quarter valued at approximately $45,000. 90.79% of the stock is currently owned by hedge funds and other institutional investors.
MaxLinear Stock Down 0.3 %
The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -6.04 and a beta of 1.77. 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 50-day moving average of $19.85 and a 200-day moving average of $16.27.
MaxLinear Company Profile
(
Get Free Report)
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.
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