MaxLinear (NASDAQ:MXL) Stock Price Down 6% – Here’s Why

MaxLinear, Inc. (NASDAQ:MXL) was down 6% during trading on Thursday . The company traded as low as $11.94 and last traded at $11.98. Approximately 353,482 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 1,283,845 shares. The stock had previously closed at $12.74.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company increased their target price on shares of MaxLinear from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Susquehanna decreased 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, January 30th. Northland Securities boosted their target price on MaxLinear from $25.00 to $27.50 and gave the company an “outperform” rating in a report on Monday, January 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a report on Thursday, January 30th. Finally, Benchmark reiterated a “buy” rating and issued a $28.00 price objective on shares of MaxLinear in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, MaxLinear currently has an average rating of “Hold” and a consensus price target of $25.50.

MaxLinear Trading Down 8.0 %

The company has a market cap of $930.13 million, a price-to-earnings ratio of -3.75 and a beta of 1.76. The business has a fifty day simple moving average of $16.00 and a 200 day simple moving average of $16.33. The company has a quick ratio of 1.28, a current ratio of 1.77 and a debt-to-equity ratio of 0.24.

MaxLinear (NASDAQ:MXL) last posted its earnings results on Wednesday, January 29th. The semiconductor company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.14). MaxLinear had a negative return on equity of 21.94% and a negative net margin of 68.01%. On average, equities analysts anticipate that MaxLinear, Inc. will post -0.37 EPS for the current fiscal year.

Hedge Funds Weigh In On MaxLinear

Several hedge funds have recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd purchased a new stake in MaxLinear in the 4th quarter valued at approximately $34,000. Pacer Advisors Inc. lifted its position in shares of MaxLinear by 29.0% in the fourth quarter. Pacer Advisors Inc. now owns 1,968 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 443 shares in the last quarter. Wealthfront Advisers LLC acquired a new stake in shares of MaxLinear during the fourth quarter valued at $45,000. R Squared Ltd purchased a new stake in MaxLinear during the 4th quarter worth about $45,000. Finally, Larson Financial Group LLC raised its stake in MaxLinear by 3,092.0% in the 4th quarter. Larson Financial Group LLC now owns 2,809 shares of the semiconductor company’s stock valued at $56,000 after purchasing an additional 2,721 shares during the last quarter. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

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.