MaxLinear (NASDAQ:MXL) Shares Gap Down After Earnings Miss

MaxLinear, Inc. (NASDAQ:MXL) shares gapped down before the market opened on Thursday following a weaker than expected 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 changing hands.

The semiconductor company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.14). MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MXL shares. Northland Securities upped their price target on MaxLinear from $25.00 to $27.50 and gave the company an “outperform” rating in a research report on Monday, January 6th. Susquehanna lowered their price objective on MaxLinear from $25.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a research note on Thursday. Benchmark reissued a “buy” rating and set a $28.00 price target on shares of MaxLinear in a research report on Thursday. Finally, Craig Hallum dropped their price objective on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a report 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 company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $25.50.

Insider Buying and Selling

In other MaxLinear news, VP William Torgerson sold 6,100 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were 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 of the company’s stock, valued at $2,760,634.80. This trade represents a 3.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Connie H. Kwong sold 5,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $18.61, for a total value of $93,050.00. Following the sale, the insider now directly owns 49,147 shares in the company, valued at $914,625.67. This represents a 9.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,900 shares of company stock valued at $927,278. 8.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MaxLinear

Large investors have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. lifted its stake in MaxLinear by 5,114.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 126,863 shares of the semiconductor company’s stock worth $1,837,000 after purchasing an additional 124,430 shares during the last quarter. Quantbot Technologies LP raised its holdings in MaxLinear by 111.7% during the third quarter. Quantbot Technologies LP now owns 66,363 shares of the semiconductor company’s stock worth $961,000 after purchasing an additional 35,018 shares in the last quarter. Two Sigma Advisers LP raised its holdings in MaxLinear by 21.8% during the third quarter. Two Sigma Advisers LP now owns 694,149 shares of the semiconductor company’s stock worth $10,051,000 after purchasing an additional 124,300 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of MaxLinear by 339.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,250,769 shares of the semiconductor company’s stock worth $24,740,000 after buying an additional 966,468 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in shares of MaxLinear in the 3rd quarter valued at $16,696,000. 90.79% of the stock is owned by hedge funds and other institutional investors.

MaxLinear Price Performance

The stock’s 50-day moving average is $19.80 and its 200 day moving average is $16.44. The stock has a market capitalization of $1.47 billion, a PE ratio of -6.42 and a beta of 1.79. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.95.

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.