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

MaxLinear, Inc (NASDAQ:MXL)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $31.73, but opened at $33.52. MaxLinear shares last traded at $33.9320, with a volume of 2,255,540 shares traded.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MXL. Benchmark increased their target price on MaxLinear from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Susquehanna reissued a “neutral” rating and issued a $30.00 target price on shares of MaxLinear in a research report on Monday. Wells Fargo & Company increased their target price on MaxLinear from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Friday, January 30th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, MaxLinear currently has a consensus rating of “Hold” and an average price target of $21.71.

MaxLinear Price Performance

The company has a current ratio of 1.34, a quick ratio of 0.92 and a debt-to-equity ratio of 0.27. The company has a market cap of $2.88 billion, a PE ratio of -21.15 and a beta of 1.70. The firm has a 50 day moving average of $18.59 and a two-hundred day moving average of $17.54.

MaxLinear (NASDAQ:MXL) last posted its quarterly 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. The company had revenue of $136.44 million for the quarter, compared to the consensus estimate of $134.82 million. MaxLinear had a negative return on equity of 6.95% and a negative net margin of 29.23%.The firm’s quarterly revenue was up 48.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.09) EPS. Research analysts predict that MaxLinear, Inc will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at MaxLinear

In related news, insider Steven G. Litchfield sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $15.68, for a total value of $313,600.00. Following the sale, the insider owned 343,435 shares in the company, valued at $5,385,060.80. This represents a 5.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 44,929 shares of company stock valued at $746,456. Corporate insiders own 7.70% of the company’s stock.

Institutional Trading of MaxLinear

Several hedge funds and other institutional investors have recently made changes to their positions in MXL. Larson Financial Group LLC grew its stake in shares of MaxLinear by 161.7% in the 4th quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock worth $25,000 after buying an additional 875 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of MaxLinear by 103.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock worth $25,000 after buying an additional 726 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of MaxLinear in the 4th quarter worth approximately $25,000. International Assets Investment Management LLC purchased a new stake in MaxLinear during the 4th quarter valued at $27,000. Finally, EverSource Wealth Advisors LLC boosted its stake in MaxLinear by 97.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 1,039 shares during the last quarter. Hedge funds and other institutional investors own 90.79% of the company’s stock.

About MaxLinear

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.