MaxLinear (NASDAQ:MXL) Sets New 12-Month Low – Time to Sell?

MaxLinear, Inc. (NASDAQ:MXL) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $11.01 and last traded at $11.11, with a volume of 373332 shares traded. The stock had previously closed at $11.94.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MXL. Wells Fargo & Company increased their price target on MaxLinear from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Benchmark reaffirmed a “buy” rating and set a $28.00 target price on shares of MaxLinear in a research report on Thursday, January 30th. Susquehanna dropped their price target on MaxLinear from $25.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Needham & Company LLC restated a “hold” rating on shares of MaxLinear in a research note on Thursday, January 30th. Finally, Northland Securities upped their price objective on shares of MaxLinear from $25.00 to $27.50 and gave the stock an “outperform” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, MaxLinear currently has a consensus rating of “Hold” and a consensus price target of $25.50.

MaxLinear Trading Down 8.2 %

The firm has a market capitalization of $927.17 million, a PE ratio of -3.74 and a beta of 1.76. The company has a quick ratio of 1.28, a current ratio of 1.77 and a debt-to-equity ratio of 0.24. The company’s 50-day simple moving average is $16.26 and its 200 day simple moving average is $16.35.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported ($0.27) earnings per share (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%. As a group, sell-side analysts expect that MaxLinear, Inc. will post -0.37 EPS for the current year.

Institutional Investors Weigh In On MaxLinear

Large investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company raised its position in shares of MaxLinear by 3,698.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,525,419 shares of the semiconductor company’s stock valued at $30,173,000 after purchasing an additional 1,485,256 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of MaxLinear in the fourth quarter worth $25,659,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of MaxLinear in the fourth quarter worth $25,027,000. Point72 Asset Management L.P. lifted its stake in shares of MaxLinear by 1,813.5% during the fourth quarter. Point72 Asset Management L.P. now owns 1,256,300 shares of the semiconductor company’s stock worth $24,850,000 after buying an additional 1,190,647 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in shares of MaxLinear by 339.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,250,769 shares of the semiconductor company’s stock valued at $24,740,000 after buying an additional 966,468 shares during the last quarter. Hedge funds and other 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.