MaxLinear (NYSE:MXL) Stock Price Down 3.8%

MaxLinear, Inc. (NYSE:MXL - Get Free Report)'s stock price fell 3.8% on Monday . The company traded as low as $12.26 and last traded at $12.27. 205,046 shares were traded during mid-day trading, a decline of 76% from the average session volume of 865,551 shares. The stock had previously closed at $12.76.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MXL shares. Northland Securities reduced their price objective on shares of MaxLinear from $30.00 to $25.00 and set an "outperform" rating for the company in a research note on Thursday, July 25th. Benchmark reduced their price target on MaxLinear from $28.00 to $22.00 and set a "buy" rating on the stock in a research report on Thursday, July 25th. Stifel Nicolaus raised their price objective on MaxLinear from $26.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, July 18th. Needham & Company LLC downgraded MaxLinear from a "buy" rating to a "hold" rating in a research note on Thursday, July 25th. Finally, Craig Hallum decreased their price target on MaxLinear from $38.00 to $28.00 and set a "hold" rating for the company in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, MaxLinear presently has an average rating of "Hold" and an average price target of $24.67.

MaxLinear Stock Down 4.9 %

The stock has a market cap of $1.01 billion, a PE ratio of -6.75 and a beta of 1.85. The business has a 50 day moving average price of $17.69 and a 200 day moving average price of $18.79. The company has a quick ratio of 1.59, a current ratio of 2.09 and a debt-to-equity ratio of 0.20.

MaxLinear (NYSE:MXL - Get Free Report) last posted its earnings results on Wednesday, July 24th. The semiconductor company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.06). The firm had revenue of $92.00 million during the quarter, compared to analyst estimates of $100.25 million. MaxLinear had a negative net margin of 42.38% and a negative return on equity of 12.39%. The business's revenue for the quarter was down 50.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.19 earnings per share. Equities research analysts expect that MaxLinear, Inc. will post -1.6 EPS for the current fiscal year.

Insider Activity

In related news, CEO Kishore Seendripu acquired 108,303 shares of the firm's stock in a transaction on Tuesday, July 30th. The shares were acquired at an average cost of $12.94 per share, with a total value of $1,401,440.82. Following the completion of the acquisition, the chief executive officer now directly owns 531,937 shares in the company, valued at approximately $6,883,264.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 8.60% of the company's stock.

Institutional Investors Weigh In On MaxLinear

Hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. increased its holdings in shares of MaxLinear by 405.1% in the second quarter. Point72 Asset Management L.P. now owns 174,764 shares of the semiconductor company's stock valued at $3,520,000 after purchasing an additional 140,164 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in MaxLinear by 8.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,651 shares of the semiconductor company's stock valued at $819,000 after buying an additional 3,052 shares in the last quarter. Millennium Management LLC increased its stake in shares of MaxLinear by 307.9% in the 2nd quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company's stock worth $21,039,000 after acquiring an additional 788,558 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of MaxLinear in the 2nd quarter worth $870,000. Finally, Marshall Wace LLP raised its holdings in shares of MaxLinear by 58.4% during the 2nd quarter. Marshall Wace LLP now owns 193,883 shares of the semiconductor company's stock worth $3,905,000 after acquiring an additional 71,512 shares during the period. 90.79% of the stock is currently owned by institutional investors and hedge funds.

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.

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