MaxLinear (NASDAQ:MXL) Shares Down 6% - Here's What Happened

MaxLinear, Inc. (NASDAQ:MXL - Get Free Report) shares fell 6% during mid-day trading on Thursday . The stock traded as low as $11.94 and last traded at $11.98. 353,482 shares were traded during mid-day trading, a decline of 72% from the average session volume of 1,283,845 shares. The stock had previously closed at $12.74.

Analyst Ratings Changes

Several analysts have recently commented on MXL shares. Susquehanna reduced their price objective on shares of MaxLinear from $25.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, January 30th. Benchmark restated a "buy" rating and issued a $28.00 price target on shares of MaxLinear in a report on Thursday, January 30th. Needham & Company LLC reiterated a "hold" rating on shares of MaxLinear in a report on Thursday, January 30th. Northland Securities raised their target price on MaxLinear from $25.00 to $27.50 and gave the company an "outperform" rating in a research note on Monday, January 6th. Finally, 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, January 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $25.50.

MaxLinear Stock Performance

The company has a debt-to-equity ratio of 0.24, a current ratio of 1.77 and a quick ratio of 1.28. The company's fifty day moving average price is $16.00 and its 200 day moving average price is $16.35. The company has a market cap of $919.13 million, a PE ratio of -3.71 and a beta of 1.76.

MaxLinear (NASDAQ:MXL - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.14). MaxLinear had a negative net margin of 68.01% and a negative return on equity of 21.94%. On average, equities research analysts predict that MaxLinear, Inc. will post -0.37 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MXL. Aster Capital Management DIFC Ltd purchased a new stake in shares of MaxLinear during the 4th quarter valued at $34,000. Pacer Advisors Inc. increased its holdings in MaxLinear by 29.0% during the fourth quarter. Pacer Advisors Inc. now owns 1,968 shares of the semiconductor company's stock worth $39,000 after buying an additional 443 shares during the last quarter. R Squared Ltd bought a new stake in MaxLinear in the fourth quarter worth about $45,000. Wealthfront Advisers LLC purchased a new position in MaxLinear in the fourth quarter valued at about $45,000. Finally, Larson Financial Group LLC grew its position in shares of MaxLinear by 3,092.0% during the 4th quarter. Larson Financial Group LLC now owns 2,809 shares of the semiconductor company's stock valued at $56,000 after acquiring an additional 2,721 shares during the period. Hedge funds and other institutional investors own 90.79% of the company's stock.

MaxLinear Company Profile

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.