MaxLinear (NASDAQ:MXL) Shares Gap Down – Should You Sell?

by · The Markets Daily

MaxLinear, Inc. (NASDAQ:MXL – Get Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $10.09, but opened at $9.80. MaxLinear shares last traded at $9.73, with a volume of 56,552 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MXL. Benchmark reissued a “buy” rating and issued a $28.00 target price on shares of MaxLinear in a research note on Thursday, January 30th. Susquehanna lowered 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. Needham & Company LLC restated a “hold” rating on shares of MaxLinear in a research report on Thursday, January 30th. Wells Fargo & Company raised their target price on shares of MaxLinear from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Finally, Northland Securities boosted their price target 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $25.50.

Read Our Latest Report on MXL

MaxLinear Trading Down 4.0 %

The company has a market capitalization of $819.85 million, a P/E ratio of -3.32 and a beta of 1.82. The business has a 50 day moving average price of $13.60 and a 200 day moving average price of $16.04. The company has a current ratio of 1.77, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24.

MaxLinear (NASDAQ:MXL – Get Free Report) last issued its earnings results on Wednesday, January 29th. The semiconductor company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.14). MaxLinear had a negative net margin of 68.01% and a negative return on equity of 21.94%. Analysts anticipate that MaxLinear, Inc. will post -0.37 EPS for the current year.

Hedge Funds Weigh In On MaxLinear

Large investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its holdings in MaxLinear by 3,698.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,525,419 shares of the semiconductor company’s stock worth $30,173,000 after purchasing an additional 1,485,256 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in MaxLinear in the fourth quarter valued at approximately $25,659,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of MaxLinear during the 4th quarter worth approximately $25,027,000. Point72 Asset Management L.P. raised its stake in shares of MaxLinear by 1,813.5% during the 4th quarter. Point72 Asset Management L.P. now owns 1,256,300 shares of the semiconductor company’s stock worth $24,850,000 after purchasing an additional 1,190,647 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in 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 worth $24,740,000 after acquiring an additional 966,468 shares in the last quarter. Institutional investors own 90.79% of the company’s stock.

About MaxLinear

(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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