MaxLinear (NASDAQ:MXL) Sees Large Volume Increase – Time to Buy?

MaxLinear, Inc (NASDAQ:MXL) shares saw strong trading volume on Monday . 1,406,088 shares were traded during mid-day trading, an increase of 20% from the previous session’s volume of 1,175,896 shares.The stock last traded at $30.2470 and had previously closed at $26.27.

Analyst Ratings Changes

A number of brokerages have commented on MXL. Wells Fargo & Company boosted their target price on MaxLinear from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Friday, January 30th. Benchmark raised their price target on MaxLinear from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, January 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MaxLinear in a report on Thursday, January 22nd. Finally, Susquehanna restated a “neutral” rating and issued a $30.00 price objective on shares of MaxLinear in a report on Monday. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, MaxLinear currently has a consensus rating of “Hold” and an average price target of $21.71.

MaxLinear Stock Performance

The stock’s 50-day moving average price is $18.34 and its 200 day moving average price is $17.43. The company has a quick ratio of 0.92, a current ratio of 1.34 and a debt-to-equity ratio of 0.27. The company has a market cap of $2.82 billion, a P/E ratio of -20.58 and a beta of 1.70.

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

Insider Transactions at MaxLinear

In other MaxLinear news, insider Steven G. Litchfield sold 20,000 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $17.50, for a total value of $350,000.00. Following the sale, the insider directly owned 368,364 shares in the company, valued at $6,446,370. This trade represents a 5.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 44,929 shares of company stock worth $746,456 over the last 90 days. Insiders own 7.70% of the company’s stock.

Institutional Trading of MaxLinear

Several institutional investors have recently modified their holdings of the company. Larson Financial Group LLC lifted its position in MaxLinear by 161.7% in the fourth quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 875 shares during the period. Smartleaf Asset Management LLC increased its holdings in MaxLinear by 103.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 726 shares during the period. Northwestern Mutual Wealth Management Co. bought a new stake in MaxLinear in the 4th quarter valued at $25,000. International Assets Investment Management LLC acquired a new position in shares of MaxLinear in the 4th quarter valued at $27,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of MaxLinear by 97.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 1,039 shares during the period. 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.