MaxLinear (NYSE:MXL) Trading Down 4.4%

MaxLinear, Inc. (NYSE:MXL) was down 4.4% during mid-day trading on Tuesday . The stock traded as low as $20.62 and last traded at $20.68. Approximately 152,947 shares were traded during trading, a decline of 79% from the average daily volume of 742,999 shares. The stock had previously closed at $21.63.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MXL shares. Northland Securities upgraded MaxLinear from a “market perform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a report on Thursday, April 4th. StockNews.com upgraded MaxLinear from a “sell” rating to a “hold” rating in a report on Thursday, February 29th. Needham & Company LLC dropped their target price on MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, February 1st. Wells Fargo & Company downgraded MaxLinear from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $35.00 to $25.00 in a report on Wednesday, January 3rd. Finally, Benchmark increased their price objective on MaxLinear from $23.00 to $28.00 and gave the stock a “buy” rating in a report on Monday. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $26.09.

MaxLinear Stock Performance

The stock has a market capitalization of $1.68 billion, a P/E ratio of 47.60 and a beta of 1.98. The firm has a 50-day moving average of $19.76 and a 200 day moving average of $20.00. The company has a quick ratio of 1.75, a current ratio of 2.20 and a debt-to-equity ratio of 0.18.

MaxLinear (NYSE:MXL) last issued its earnings results on Wednesday, January 31st. The semiconductor company reported ($0.17) EPS for the quarter, hitting the consensus estimate of ($0.17). The firm had revenue of $125.35 million during the quarter, compared to analysts’ expectations of $125.06 million. MaxLinear had a positive return on equity of 4.77% and a negative net margin of 10.55%. Research analysts anticipate that MaxLinear, Inc. will post -0.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Counterpoint Mutual Funds LLC acquired a new position in MaxLinear during the first quarter worth $294,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in MaxLinear by 291.5% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 120,873 shares of the semiconductor company’s stock valued at $2,873,000 after acquiring an additional 90,000 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of MaxLinear by 8.5% during the 4th quarter. Vanguard Group Inc. now owns 11,586,273 shares of the semiconductor company’s stock valued at $275,406,000 after purchasing an additional 903,235 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of MaxLinear by 138.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,758,536 shares of the semiconductor company’s stock valued at $41,801,000 after purchasing an additional 1,019,710 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of MaxLinear by 197.8% during the 4th quarter. Barclays PLC now owns 182,134 shares of the semiconductor company’s stock valued at $4,329,000 after purchasing an additional 120,976 shares in the last quarter. 90.79% of the stock is currently owned by institutional investors and hedge funds.

MaxLinear Company Profile

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.