MaxLinear (NYSE:MXL) Trading Down 10.3%

Shares of MaxLinear, Inc. (NYSE:MXL - Get Free Report) were down 10.3% on Tuesday . The company traded as low as $13.62 and last traded at $13.62. Approximately 1,148,448 shares were traded during trading, an increase of 29% from the average daily volume of 891,896 shares. The stock had previously closed at $15.18.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MXL shares. Stifel Nicolaus lifted their price target on shares of MaxLinear from $26.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, July 18th. Needham & Company LLC cut shares of MaxLinear from a "buy" rating to a "hold" rating in a research report on Thursday, July 25th. Craig Hallum reduced their price target on shares of MaxLinear from $38.00 to $28.00 and set a "hold" rating on the stock in a research report on Thursday, July 25th. Susquehanna reduced their price target on shares of MaxLinear from $30.00 to $26.00 and set a "positive" rating on the stock in a research report on Thursday, July 25th. Finally, Northland Securities reduced their price target on shares of MaxLinear from $30.00 to $25.00 and set an "outperform" rating on the stock in a research report on Thursday, July 25th. One equities 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. According to MarketBeat, MaxLinear presently has an average rating of "Hold" and an average target price of $24.67.

MaxLinear Trading Down 9.8 %

The business's 50-day moving average price is $16.84 and its 200 day moving average price is $18.50. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.09 and a quick ratio of 1.59. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -7.24 and a beta of 1.85.

MaxLinear (NYSE:MXL - Get Free Report) last posted its quarterly 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 company 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 company's revenue was down 50.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.19 earnings per share. On average, equities analysts forecast that MaxLinear, Inc. will post -1.6 earnings per share for the current fiscal year.

Insider Activity at MaxLinear

In related news, CEO Kishore Seendripu purchased 108,303 shares of the business's stock in a transaction that occurred on Tuesday, July 30th. The shares were purchased 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 of the company's stock, valued at approximately $6,883,264.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 8.60% of the stock is currently owned by corporate insiders.

Institutional Trading of MaxLinear

Several institutional investors have recently added to or reduced their stakes in MXL. Hood River Capital Management LLC bought a new stake in MaxLinear during the second quarter valued at $24,184,000. Vanguard Group Inc. increased its stake in MaxLinear by 8.5% during the fourth quarter. Vanguard Group Inc. now owns 11,586,273 shares of the semiconductor company's stock valued at $275,406,000 after purchasing an additional 903,235 shares during the last quarter. Millennium Management LLC increased its stake in MaxLinear by 307.9% during the second quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company's stock valued at $21,039,000 after purchasing an additional 788,558 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in MaxLinear by 10.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,071,183 shares of the semiconductor company's stock valued at $41,714,000 after purchasing an additional 192,021 shares during the last quarter. Finally, Comerica Bank grew its position in shares of MaxLinear by 472.6% during the first quarter. Comerica Bank now owns 194,405 shares of the semiconductor company's stock worth $3,630,000 after acquiring an additional 160,456 shares during the last quarter. 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.