MaxLinear (NASDAQ:MXL) Shares Up 5.9% – Here’s Why

MaxLinear, Inc (NASDAQ:MXL)’s stock price rose 5.9% during trading on Friday . The stock traded as high as $90.09 and last traded at $93.9890. Approximately 2,244,131 shares were traded during trading, a decline of 15% from the average daily volume of 2,626,163 shares. The stock had previously closed at $88.78.

Wall Street Analysts Forecast Growth

MXL has been the subject of several recent analyst reports. Benchmark initiated coverage on shares of MaxLinear in a research note on Tuesday. They set a “buy” rating and a $28.00 price objective for the company. Susquehanna reissued a “neutral” rating and issued a $30.00 price target on shares of MaxLinear in a research note on Monday, April 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MaxLinear in a report on Tuesday, April 21st. Wells Fargo & Company increased their price target on shares of MaxLinear from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Friday, January 30th. Finally, 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 report on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $44.20.

MaxLinear Stock Performance

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 firm has a market cap of $8.35 billion, a P/E ratio of -61.31 and a beta of 3.95. The firm’s fifty day moving average price is $35.05 and its 200 day moving average price is $23.56.

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

Insider Activity at MaxLinear

In related news, insider Steven G. Litchfield sold 20,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 343,435 shares in the company, valued at $5,385,060.80. The trade was a 5.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Connie H. Kwong sold 35,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was 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 approximately $1,352,301.12. This trade represents a 71.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 99,097 shares of company stock valued at $5,150,815. 7.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MXL. Captrust Financial Advisors grew its position in MaxLinear by 4.3% during the 4th quarter. Captrust Financial Advisors now owns 14,074 shares of the semiconductor company’s stock worth $245,000 after purchasing an additional 577 shares during the last quarter. State of Alaska Department of Revenue grew its position in MaxLinear by 1.4% during the 4th quarter. State of Alaska Department of Revenue now owns 45,677 shares of the semiconductor company’s stock worth $795,000 after purchasing an additional 632 shares during the last quarter. ProShare Advisors LLC grew its position in MaxLinear by 4.3% during the 4th quarter. ProShare Advisors LLC now owns 16,048 shares of the semiconductor company’s stock worth $280,000 after purchasing an additional 664 shares during the last quarter. Smartleaf Asset Management LLC grew its position in MaxLinear by 103.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 726 shares during the last quarter. Finally, Amalgamated Bank grew its position in MaxLinear by 3.5% during the 3rd quarter. Amalgamated Bank now owns 23,210 shares of the semiconductor company’s stock worth $373,000 after purchasing an additional 775 shares during the last quarter. 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.