MaxLinear (NASDAQ:MXL) Trading Down 15.8% – What’s Next?

MaxLinear, Inc. (NASDAQ:MXL)’s share price fell 15.8% during mid-day trading on Monday . The company traded as low as $19.63 and last traded at $19.52. 1,523,155 shares changed hands during trading, a decline of 3% from the average session volume of 1,569,289 shares. The stock had previously closed at $23.17.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MXL. Needham & Company LLC restated a “hold” rating on shares of MaxLinear in a research report on Thursday, October 24th. Wells Fargo & Company increased their price objective on MaxLinear from $14.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Susquehanna increased their price target on shares of MaxLinear from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Northland Securities upped their target price on shares of MaxLinear from $25.00 to $27.50 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Finally, Benchmark lifted their price target on shares of MaxLinear from $22.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $25.64.

MaxLinear Stock Down 17.9 %

The company has a quick ratio of 1.38, a current ratio of 1.95 and a debt-to-equity ratio of 0.22. The stock has a fifty day moving average of $19.41 and a two-hundred day moving average of $16.43. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of -6.98 and a beta of 1.79.

Insider Transactions at MaxLinear

In related news, insider Steven G. Litchfield sold 32,000 shares of MaxLinear 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Connie H. Kwong sold 5,000 shares of the 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,900 shares of company stock valued at $927,278. Corporate insiders own 8.60% of the company’s stock.

Institutional Trading of MaxLinear

Several hedge funds have recently added to or reduced their stakes in MXL. Pacer Advisors Inc. grew its holdings in 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 acquiring an additional 443 shares during the period. Truvestments Capital LLC acquired a new position in MaxLinear in the third quarter worth approximately $42,000. R Squared Ltd bought a new position in shares of MaxLinear in the fourth quarter valued at $45,000. GAMMA Investing LLC lifted its position in shares of MaxLinear by 151.8% during the 3rd quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 2,093 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in shares of MaxLinear during the 2nd quarter worth $56,000. Institutional investors own 90.79% of the company’s stock.

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.