MaxLinear, Inc (NYSE:MXL) Stock Price Down 7.2% After Analyst Downgrade

MaxLinear, Inc (NYSE:MXL) shares dropped 7.2% on Monday after TheStreet downgraded the stock from a b rating to a c+ rating. The stock traded as low as $26.60 and last traded at $26.72, with a volume of 1,385,509 shares. The stock had previously closed at $28.78.

MXL has been the topic of a number of other reports. Stifel Nicolaus boosted their target price on MaxLinear from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, July 4th. Zacks Investment Research lowered MaxLinear from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Deutsche Bank AG decreased their target price on MaxLinear from $33.00 to $32.00 and set a “buy” rating on the stock in a report on Friday, July 21st. BidaskClub lowered MaxLinear from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Roth Capital decreased their target price on MaxLinear from $38.00 to $33.50 and set a “buy” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $31.36.

In other news, VP Madhukar Reddy sold 60,000 shares of the company’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $31.68, for a total transaction of $1,900,800.00. Following the completion of the sale, the vice president now directly owns 245,819 shares in the company, valued at approximately $7,787,545.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Steven Craddock sold 20,000 shares of the company’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $30.86, for a total value of $617,200.00. Following the sale, the director now owns 73,752 shares of the company’s stock, valued at $2,275,986.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 276,004 shares of company stock valued at $8,638,836. Corporate insiders own 11.92% of the company’s stock.

Several hedge funds have recently made changes to their positions in MXL. LS Investment Advisors LLC acquired a new stake in shares of MaxLinear during the second quarter valued at $134,000. Ameritas Investment Partners Inc. acquired a new stake in shares of MaxLinear during the first quarter valued at $135,000. D.A. Davidson & CO. increased its stake in shares of MaxLinear by 0.9% in the second quarter. D.A. Davidson & CO. now owns 5,298 shares of the semiconductor company’s stock valued at $147,000 after buying an additional 45 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of MaxLinear by 10.8% in the first quarter. Envestnet Asset Management Inc. now owns 6,404 shares of the semiconductor company’s stock valued at $179,000 after buying an additional 624 shares in the last quarter. Finally, Pinebridge Investments L.P. acquired a new stake in shares of MaxLinear during the second quarter valued at $192,000. Institutional investors and hedge funds own 85.44% of the company’s stock.

The firm has a 50 day moving average of $26.68 and a 200 day moving average of $27.59. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 39.24 and a beta of 0.61.

MaxLinear (NYSE:MXL) last issued its quarterly earnings data on Tuesday, August 8th. The semiconductor company reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.04. The firm had revenue of $104.18 million during the quarter, compared to analyst estimates of $107.77 million. MaxLinear had a return on equity of 22.29% and a net margin of 9.95%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 earnings per share. Analysts predict that MaxLinear, Inc will post $1.39 earnings per share for the current year.

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MaxLinear Company Profile

MaxLinear, Inc is a provider of radio frequency (RF) and mixed-signal integrated circuits for cable and satellite broadband communications and the connected home, and wired and wireless infrastructure markets. The Company’s RF receiver products capture and process digital and analog broadband signals to be decoded for various applications.

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