MaxLinear (NASDAQ:MXL) Shares Gap Down on Disappointing Earnings

MaxLinear, Inc. (NASDAQ:MXLGet Free Report) shares gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. 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 net margin of 57.37% and a negative return on equity of 19.22%.

Analyst Ratings Changes

Several research firms have issued reports on MXL. Susquehanna cut their price objective on MaxLinear from $25.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday. Craig Hallum cut their price target 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. Northland Securities raised their price objective on shares of MaxLinear from $25.00 to $27.50 and gave the company an “outperform” rating in a research note on Monday, January 6th. Benchmark reissued a “buy” rating and set a $28.00 price target on shares of MaxLinear in a research note on Thursday. Finally, Wells Fargo & Company raised their price objective on shares of MaxLinear from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Thursday. One equities 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $25.50.

Read Our Latest Research Report on MaxLinear

Insiders Place Their Bets

In other MaxLinear news, Director Ted L. Tewksbury III sold 5,800 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $15.36, for a total transaction of $89,088.00. Following the completion of the sale, the director now owns 69,717 shares of the company’s stock, valued at approximately $1,070,853.12. The trade was a 7.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of the transaction, the insider now owns 365,868 shares in the company, valued at approximately $7,445,413.80. This trade represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 48,900 shares of company stock valued at $927,278. Company insiders own 8.60% of the company’s stock.

Institutional Trading of MaxLinear

Institutional investors and hedge funds have recently bought and sold shares of the business. Pacer Advisors Inc. lifted its position in shares of 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 purchasing an additional 443 shares in the last quarter. Truvestments Capital LLC acquired a new stake in shares of MaxLinear during the third quarter valued at about $42,000. R Squared Ltd purchased a new stake in shares of MaxLinear during the fourth quarter worth about $45,000. GAMMA Investing LLC lifted its stake in shares of MaxLinear by 151.8% in the third quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 2,093 shares in the last quarter. Finally, CWM LLC boosted its holdings in MaxLinear by 321.3% in the third quarter. CWM LLC now owns 5,793 shares of the semiconductor company’s stock valued at $84,000 after purchasing an additional 4,418 shares during the last quarter. Institutional investors and hedge funds own 90.79% of the company’s stock.

MaxLinear Trading Down 19.8 %

The company has a current ratio of 1.95, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22. The business has a 50 day simple moving average of $19.80 and a two-hundred day simple moving average of $16.44. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -6.42 and a beta of 1.79.

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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