MaxLinear (NASDAQ:MXL) Shares Up 6.6% – Time to Buy?

MaxLinear, Inc (NASDAQ:MXL)’s stock price shot up 6.6% on Tuesday . The company traded as high as $92.80 and last traded at $94.6120. 336,566 shares were traded during trading, a decline of 89% from the average session volume of 2,986,197 shares. The stock had previously closed at $88.76.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MXL. Roth Mkm upgraded shares of MaxLinear from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Friday, April 24th. Needham & Company LLC upgraded shares of MaxLinear from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Friday, April 24th. Susquehanna restated a “neutral” rating and set a $30.00 price objective on shares of MaxLinear in a research note on Monday, April 20th. Benchmark began coverage on shares of MaxLinear in a research note on Wednesday, May 27th. They set a “buy” rating and a $125.00 price objective for the company. Finally, Loop Capital upgraded shares of MaxLinear from a “hold” rating to a “buy” rating and raised their price objective for the company from $17.00 to $75.00 in a research note on Wednesday, April 29th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $65.00.

MaxLinear Price Performance

The business’s 50 day moving average price is $69.77 and its 200 day moving average price is $36.19. The stock has a market capitalization of $7.42 billion, a P/E ratio of -54.52 and a beta of 3.98. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.70 and a quick ratio of 1.12.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings data on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. The company had revenue of $137.19 million for the quarter, compared to the consensus estimate of $137.15 million. MaxLinear had a negative net margin of 25.96% and a negative return on equity of 2.33%. The firm’s revenue was up 43.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.05) earnings per share. Sell-side analysts forecast that MaxLinear, Inc will post 0.52 EPS for the current year.

Insider Buying and Selling

In other MaxLinear news, insider Connie H. Kwong sold 35,000 shares of MaxLinear stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $96.96, for a total transaction of $3,393,600.00. Following the transaction, the insider owned 13,947 shares of the company’s stock, valued at $1,352,301.12. The trade was a 71.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas E. Pardun sold 11,000 shares of MaxLinear stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $105.00, for a total transaction of $1,155,000.00. Following the transaction, the director directly owned 55,252 shares in the company, valued at $5,801,460. This represents a 16.60% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 65,168 shares of company stock worth $5,559,359. 7.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MaxLinear

Several large investors have recently added to or reduced their stakes in the company. Glenmede Trust Co. NA lifted its holdings in MaxLinear by 66.2% during the first quarter. Glenmede Trust Co. NA now owns 37,836 shares of the semiconductor company’s stock valued at $658,000 after purchasing an additional 15,072 shares in the last quarter. Bank of America Corp DE lifted its holdings in MaxLinear by 6.9% during the first quarter. Bank of America Corp DE now owns 641,034 shares of the semiconductor company’s stock valued at $11,148,000 after purchasing an additional 41,119 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in MaxLinear by 16.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 217 shares in the last quarter. California State Teachers Retirement System lifted its holdings in MaxLinear by 28.4% during the first quarter. California State Teachers Retirement System now owns 104,040 shares of the semiconductor company’s stock valued at $1,809,000 after purchasing an additional 22,993 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in MaxLinear by 14.3% during the first quarter. Quantinno Capital Management LP now owns 47,858 shares of the semiconductor company’s stock valued at $832,000 after purchasing an additional 5,982 shares in the last quarter. Hedge funds and other institutional investors 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.