MaxLinear (NASDAQ:MXL) Sets New 12-Month High – Here’s Why

Shares of MaxLinear, Inc (NASDAQ:MXL) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $21.04 and last traded at $20.60, with a volume of 465513 shares traded. The stock had previously closed at $19.84.

Analyst Ratings Changes

A number of research firms have weighed in on MXL. Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a report on Thursday, January 22nd. Wells Fargo & Company boosted their target price on shares of MaxLinear from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Friday, January 30th. Finally, Benchmark boosted their target price on shares of MaxLinear from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, January 16th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, MaxLinear currently has a consensus rating of “Hold” and a consensus price target of $19.57.

MaxLinear Stock Performance

The stock’s 50 day moving average price is $17.73 and its 200 day moving average price is $17.16. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.92 and a current ratio of 1.34. The company has a market capitalization of $1.79 billion, a P/E ratio of -13.11 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 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. MaxLinear had a negative net margin of 29.23% and a negative return on equity of 6.95%. The company had revenue of $136.44 million for the quarter, compared to analyst estimates of $134.82 million. During the same period in the prior year, the firm posted ($0.09) EPS. The company’s quarterly revenue was up 48.0% on a year-over-year basis. As a group, equities analysts expect that MaxLinear, Inc will post -0.37 EPS for the current year.

Insider Activity at MaxLinear

In related news, insider Steven G. Litchfield sold 20,000 shares of the stock in a transaction on Friday, March 6th. The shares were sold at an average price of $15.68, for a total transaction of $313,600.00. Following the transaction, the insider directly owned 343,435 shares of the company’s stock, valued at $5,385,060.80. This represents a 5.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 44,929 shares of company stock valued at $746,456. Corporate insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in MaxLinear by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 13,326,387 shares of the semiconductor company’s stock worth $232,279,000 after acquiring an additional 605,903 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in MaxLinear by 27.8% during the second quarter. The Manufacturers Life Insurance Company now owns 2,889,111 shares of the semiconductor company’s stock worth $41,054,000 after buying an additional 628,719 shares during the last quarter. Invesco Ltd. raised its holdings in MaxLinear by 419.9% during the fourth quarter. Invesco Ltd. now owns 2,149,589 shares of the semiconductor company’s stock worth $37,467,000 after buying an additional 1,736,141 shares during the last quarter. Geode Capital Management LLC raised its holdings in MaxLinear by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 2,038,144 shares of the semiconductor company’s stock worth $35,531,000 after buying an additional 28,548 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in MaxLinear by 31.8% during the third quarter. Marshall Wace LLP now owns 1,826,259 shares of the semiconductor company’s stock worth $29,366,000 after buying an additional 441,088 shares during the last quarter. 90.79% of the stock is owned by institutional investors.

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.