MaxLinear (NYSE:MXL) Stock Price Up 6.6%

MaxLinear, Inc. (NYSE:MXLGet Rating) shares rose 6.6% during mid-day trading on Wednesday . The company traded as high as $36.70 and last traded at $36.70. Approximately 13,624 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 574,452 shares. The stock had previously closed at $34.44.

Analysts Set New Price Targets

MXL has been the topic of a number of research reports. Wells Fargo & Company dropped their price objective on shares of MaxLinear from $66.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday, July 11th. Northland Securities dropped their price objective on shares of MaxLinear from $50.00 to $45.00 in a report on Thursday, July 28th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of MaxLinear from $45.00 to $50.00 in a report on Thursday, July 28th. StockNews.com downgraded shares of MaxLinear from a “strong-buy” rating to a “buy” rating in a report on Monday, September 12th. Finally, Susquehanna dropped their price objective on shares of MaxLinear from $60.00 to $55.00 in a report on Thursday, July 28th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $63.33.

MaxLinear Stock Performance

The stock has a market cap of $2.60 billion, a P/E ratio of 11.63, a PEG ratio of 0.53 and a beta of 1.99. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.70 and a quick ratio of 1.24. The firm’s 50-day moving average price is $38.13 and its 200-day moving average price is $42.15.

MaxLinear (NYSE:MXLGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The semiconductor company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.09. The firm had revenue of $280.01 million for the quarter, compared to analysts’ expectations of $279.76 million. MaxLinear had a net margin of 10.08% and a return on equity of 46.90%. The company’s revenue for the quarter was up 36.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.35 earnings per share. Sell-side analysts expect that MaxLinear, Inc. will post 3.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MaxLinear

Large investors have recently bought and sold shares of the business. Cornerstone Advisory LLC bought a new stake in MaxLinear in the fourth quarter worth $44,000. FinTrust Capital Advisors LLC bought a new stake in MaxLinear in the second quarter worth $27,000. Archer Investment Corp bought a new position in MaxLinear during the first quarter valued at $50,000. Meeder Asset Management Inc. bought a new position in MaxLinear during the first quarter valued at $61,000. Finally, Okabena Investment Services Inc. bought a new position in MaxLinear during the fourth quarter valued at $163,000. Institutional investors own 90.26% of the company’s stock.

About MaxLinear

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MaxLinear, Inc provides radiofrequency (RF), high-performance analog, and mixed-signal communications systems-on-chip solutions (SoCs) for the connected home, wired and wireless infrastructure, and industrial and multi-market applications worldwide. Its products integrate various portions of a high-speed communication system, including RF, high-performance analog, mixed-signal, digital signal processing, security engines, data compression, networking layers, and power management.

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