MaxLinear (NASDAQ:MXL) Trading Up 6.7% – Here’s Why

MaxLinear, Inc (NASDAQ:MXL)’s stock price was up 6.7% during trading on Wednesday . The company traded as high as $96.00 and last traded at $94.69. Approximately 1,053,633 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 2,922,761 shares. The stock had previously closed at $88.76.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MXL shares. Loop Capital upgraded MaxLinear from a “hold” rating to a “buy” rating and boosted their target price for the stock from $17.00 to $75.00 in a research report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $40.00 price objective on shares of MaxLinear in a research note on Friday, April 24th. Roth Mkm raised MaxLinear from a “neutral” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Friday, April 24th. Stifel Nicolaus reissued a “buy” rating and set a $105.00 price objective (up from $49.00) on shares of MaxLinear in a research note on Wednesday. Finally, Susquehanna reissued a “neutral” rating and set a $30.00 price objective on shares of MaxLinear in a research note on Monday, April 20th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, MaxLinear has an average rating of “Hold” and a consensus price target of $65.00.

MaxLinear Stock Up 3.2%

The company has a 50 day simple moving average of $58.39 and a two-hundred day simple moving average of $31.97. The company has a quick ratio of 1.12, a current ratio of 1.70 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $8.44 billion, a P/E ratio of -62.04 and a beta of 3.98.

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

Insider Buying and Selling

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 transaction, the director owned 55,252 shares of the company’s stock, valued at approximately $5,801,460. This represents a 16.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Connie H. Kwong sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $96.96, for a total value of $3,393,600.00. Following the transaction, the insider directly owned 13,947 shares in the company, valued at approximately $1,352,301.12. This represents a 71.51% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 65,168 shares of company stock worth $5,559,359. Insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Pure Financial Advisors LLC bought a new position in shares of MaxLinear during the fourth quarter valued at approximately $1,424,000. HighTower Advisors LLC grew its stake in shares of MaxLinear by 1.7% during the fourth quarter. HighTower Advisors LLC now owns 656,319 shares of the semiconductor company’s stock valued at $11,440,000 after buying an additional 10,948 shares during the last quarter. Tudor Investment Corp ET AL grew its stake in shares of MaxLinear by 68.5% during the third quarter. Tudor Investment Corp ET AL now owns 427,195 shares of the semiconductor company’s stock valued at $6,869,000 after buying an additional 173,709 shares during the last quarter. Pictet Asset Management Holding SA bought a new position in shares of MaxLinear during the fourth quarter valued at approximately $190,000. Finally, Essex Investment Management Co. LLC bought a new position in shares of MaxLinear during the third quarter valued at approximately $3,864,000. 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.