MaxLinear (NASDAQ:MXL) Trading Up 6.6% – Here’s Why

MaxLinear, Inc (NASDAQ:MXL) shares were up 6.6% during trading on Tuesday . The company traded as high as $92.80 and last traded at $94.6120. Approximately 336,566 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 2,986,197 shares. The stock had previously closed at $88.76.

Analyst Ratings Changes

A number of research analysts have recently commented on MXL shares. Northland Securities set a $110.00 price objective on MaxLinear in a report on Wednesday, June 3rd. Stifel Nicolaus reissued a “buy” rating and set a $105.00 price objective (up from $49.00) on shares of MaxLinear in a report on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $40.00 price objective on shares of MaxLinear in a report on Friday, April 24th. Roth Mkm raised shares of MaxLinear from a “neutral” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Friday, April 24th. Finally, Needham & Company LLC raised shares of MaxLinear from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Friday, April 24th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $65.00.

MaxLinear Price Performance

The firm has a market capitalization of $7.75 billion, a price-to-earnings ratio of -56.53 and a beta of 3.98. The company has a fifty day moving average price of $67.15 and a two-hundred day moving average price of $35.23. The company has a quick ratio of 1.12, a current ratio of 1.70 and a debt-to-equity ratio of 0.27.

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

Insider Activity at MaxLinear

In related news, insider Connie H. Kwong sold 35,000 shares of the company’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 value of $3,393,600.00. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 value of $1,155,000.00. Following the completion of the sale, the director owned 55,252 shares in the company, valued at approximately $5,801,460. This represents a 16.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 65,168 shares of company stock valued at $5,559,359 over the last three months. Insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On MaxLinear

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised 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 purchasing an additional 605,903 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of 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 valued at $41,054,000 after purchasing an additional 628,719 shares during the period. Invesco Ltd. raised its stake in shares of MaxLinear by 419.9% during the fourth quarter. Invesco Ltd. now owns 2,149,589 shares of the semiconductor company’s stock valued at $37,467,000 after purchasing an additional 1,736,141 shares during the period. Geode Capital Management LLC raised its stake in shares of MaxLinear by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 2,038,144 shares of the semiconductor company’s stock valued at $35,531,000 after purchasing an additional 28,548 shares during the period. Finally, Marshall Wace LLP boosted its stake in shares of MaxLinear by 31.8% during the 3rd quarter. Marshall Wace LLP now owns 1,826,259 shares of the semiconductor company’s stock valued at $29,366,000 after buying an additional 441,088 shares during the last quarter. 90.79% of the stock is currently owned by hedge funds and other 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.