MaxLinear (NASDAQ:MXL) Shares Up 11% – Here’s Why

MaxLinear, Inc (NASDAQ:MXL)’s share price traded up 11% during mid-day trading on Monday . The company traded as high as $103.50 and last traded at $103.3540. Approximately 954,738 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 3,108,558 shares. The stock had previously closed at $93.12.

Analysts Set New Price Targets

Several research firms have recently issued reports on MXL. Benchmark started coverage on MaxLinear in a research note on Wednesday, May 27th. They set a “buy” rating and a $125.00 target price on the stock. Loop Capital raised shares of MaxLinear from a “hold” rating to a “buy” rating and boosted their price objective for the company from $17.00 to $75.00 in a research report on Wednesday, April 29th. Northland Securities set a $110.00 target price on shares of MaxLinear in a research report on Wednesday, June 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a research note on Tuesday, April 21st. Finally, Susquehanna restated a “neutral” rating and issued a $30.00 target price on shares of MaxLinear in a research note on Monday, April 20th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $65.50.

MaxLinear Price Performance

The business’s 50 day moving average price is $89.15 and its 200 day moving average price is $43.98. The stock has a market capitalization of $7.68 billion, a P/E ratio of -56.46 and a beta of 3.91. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.70 and a quick ratio of 1.12.

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 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 business had revenue of $137.19 million for the quarter, compared to analysts’ expectations of $137.15 million. During the same period last year, the firm posted ($0.05) earnings per share. The business’s revenue for the quarter was up 43.0% on a year-over-year basis. Sell-side analysts forecast that MaxLinear, Inc will post 0.52 EPS for the current year.

Insider Transactions at MaxLinear

In related news, Director Thomas E. Pardun sold 11,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $105.00, for a total transaction of $1,155,000.00. Following the completion of the transaction, the director owned 55,252 shares in the company, valued at approximately $5,801,460. This represents a 16.60% 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 this hyperlink. Also, insider Connie H. Kwong sold 35,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider owned 13,947 shares in the company, valued at $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. In the last ninety days, insiders sold 65,168 shares of company stock valued at $5,559,358. Corporate insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On MaxLinear

Several hedge funds and other institutional investors have recently modified their holdings of MXL. EverSource Wealth Advisors LLC increased its stake in MaxLinear by 16.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock worth $27,000 after buying an additional 217 shares during the period. GAMMA Investing LLC boosted its position in MaxLinear by 5.6% in the 2nd quarter. GAMMA Investing LLC now owns 6,152 shares of the semiconductor company’s stock valued at $788,000 after buying an additional 326 shares during the period. Captrust Financial Advisors grew its stake in MaxLinear by 4.3% in the 4th quarter. Captrust Financial Advisors now owns 14,074 shares of the semiconductor company’s stock worth $245,000 after acquiring an additional 577 shares in the last quarter. State of Alaska Department of Revenue grew its stake in MaxLinear by 1.4% in the 4th quarter. State of Alaska Department of Revenue now owns 45,677 shares of the semiconductor company’s stock worth $795,000 after acquiring an additional 632 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in shares of MaxLinear by 4.3% during the fourth quarter. ProShare Advisors LLC now owns 16,048 shares of the semiconductor company’s stock worth $280,000 after acquiring an additional 664 shares during the period. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

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.