MaxLinear (NASDAQ:MXL) Stock Price Up 8.3% – Still a Buy?

MaxLinear, Inc (NASDAQ:MXL)’s stock price rose 8.3% during mid-day trading on Monday . The stock traded as high as $97.53 and last traded at $96.0850. 667,406 shares changed hands during trading, a decline of 78% from the average daily volume of 2,991,675 shares. The stock had previously closed at $88.76.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $40.00 price objective on shares of MaxLinear in a report on Friday, April 24th. Benchmark began coverage on MaxLinear in a report on Wednesday, May 27th. They issued a “buy” rating and a $125.00 price target for the company. Needham & Company LLC upgraded shares of MaxLinear from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Friday, April 24th. Loop Capital raised shares of MaxLinear from a “hold” rating to a “buy” rating and raised their price objective for the stock from $17.00 to $75.00 in a report on Wednesday, April 29th. Finally, Susquehanna restated a “neutral” rating and set a $30.00 price objective on shares of MaxLinear in a research report on Monday, April 20th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $65.00.

MaxLinear Trading Up 7.6%

The stock has a market capitalization of $8.55 billion, a price-to-earnings ratio of -62.89 and a beta of 3.98. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.12 and a current ratio of 1.70. The business has a 50-day moving average of $72.57 and a 200-day moving average of $37.21.

MaxLinear (NASDAQ:MXL) last announced its earnings results 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 business had revenue of $137.19 million for the quarter, compared to analyst estimates of $137.15 million. MaxLinear had a negative net margin of 25.96% and a negative return on equity of 2.33%. The company’s revenue for the quarter was up 43.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.05) earnings per share. As a group, research analysts forecast that MaxLinear, Inc will post 0.52 EPS for the current year.

Insider Activity at MaxLinear

In other news, Director Thomas E. Pardun sold 11,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $105.00, for a total transaction of $1,155,000.00. Following the completion of the sale, the director owned 55,252 shares in the company, valued at $5,801,460. This represents a 16.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Connie H. Kwong sold 35,000 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $96.96, for a total value of $3,393,600.00. Following the sale, the insider directly owned 13,947 shares of the company’s stock, valued at approximately $1,352,301.12. This represents a 71.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 65,168 shares of company stock worth $5,559,358 over the last quarter. Company insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On MaxLinear

A number of large investors have recently bought and sold shares of the company. Glenmede Trust Co. NA raised its position in MaxLinear by 66.2% during the 1st quarter. Glenmede Trust Co. NA now owns 37,836 shares of the semiconductor company’s stock worth $658,000 after buying an additional 15,072 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of MaxLinear by 6.9% in 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 acquiring an additional 41,119 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of MaxLinear by 16.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 217 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of MaxLinear by 28.4% during the first quarter. California State Teachers Retirement System now owns 104,040 shares of the semiconductor company’s stock worth $1,809,000 after acquiring an additional 22,993 shares during the period. Finally, Quantinno Capital Management LP increased its stake in shares of MaxLinear by 14.3% during the first quarter. Quantinno Capital Management LP now owns 47,858 shares of the semiconductor company’s stock worth $832,000 after acquiring an additional 5,982 shares during the period. 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.