MaxLinear (NASDAQ:MXL) Sets New 52-Week High – Should You Buy?

MaxLinear, Inc (NASDAQ:MXL)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $22.07 and last traded at $22.01, with a volume of 1112372 shares changing hands. The stock had previously closed at $21.56.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Benchmark lifted their price target on MaxLinear from $25.00 to $28.00 and gave the company a “buy” rating in a report on Friday, January 16th. Wells Fargo & Company lifted their target price on shares of MaxLinear from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Friday, January 30th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MaxLinear in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $19.57.

MaxLinear Stock Up 2.1%

The business has a 50-day simple moving average of $18.06 and a two-hundred day simple moving average of $17.30. The company has a market cap of $1.90 billion, a price-to-earnings ratio of -13.93 and a beta of 1.70. The company has a quick ratio of 0.92, a current ratio of 1.34 and a debt-to-equity ratio of 0.27.

MaxLinear (NASDAQ:MXL) last posted its earnings results on Thursday, January 29th. The semiconductor company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.01. MaxLinear had a negative return on equity of 6.95% and a negative net margin of 29.23%.The firm had revenue of $136.44 million during the quarter, compared to analyst estimates of $134.82 million. During the same period in the previous year, the company earned ($0.09) EPS. The company’s revenue for the quarter was up 48.0% on a year-over-year basis. As a group, equities analysts forecast that MaxLinear, Inc will post -0.37 earnings per share for the current fiscal year.

Insider Buying and Selling at MaxLinear

In other news, insider Steven G. Litchfield sold 20,000 shares of the business’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $15.68, for a total value of $313,600.00. Following the completion of the sale, the insider directly owned 343,435 shares in the company, valued at approximately $5,385,060.80. The trade was a 5.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 44,929 shares of company stock valued at $746,456 in the last ninety days. 7.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Captrust Financial Advisors lifted its holdings in MaxLinear by 4.3% during the 4th quarter. Captrust Financial Advisors now owns 14,074 shares of the semiconductor company’s stock valued at $245,000 after purchasing an additional 577 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of MaxLinear by 1.4% in the fourth quarter. State of Alaska Department of Revenue now owns 45,677 shares of the semiconductor company’s stock valued at $795,000 after acquiring an additional 632 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of MaxLinear by 4.3% in the fourth quarter. ProShare Advisors LLC now owns 16,048 shares of the semiconductor company’s stock valued at $280,000 after acquiring an additional 664 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of MaxLinear by 103.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 726 shares during the last quarter. Finally, Amalgamated Bank raised its stake in shares of MaxLinear by 3.5% in the third quarter. Amalgamated Bank now owns 23,210 shares of the semiconductor company’s stock valued at $373,000 after acquiring an additional 775 shares during the last quarter. Institutional investors and hedge funds own 90.79% of the company’s stock.

MaxLinear Company Profile

MaxLinear, Inc is a provider of radio-frequency (RF), analog, and mixed-signal integrated circuits for broadband communications, data center connectivity, and video infrastructure applications. The company’s product portfolio includes high-performance RF front-end modules, broadband power amplifiers, optical and Ethernet transceivers, and network processors designed to support demanding signal processing requirements.

MaxLinear’s semiconductor solutions are used by cable and satellite television operators, fiber-to-the-home service providers, network equipment manufacturers, and data center operators.