MaxLinear (MXL) Stock Price Up 5.7%

MaxLinear, Inc. (NYSE:MXL)’s share price rose 5.7% during mid-day trading on Wednesday . The company traded as high as $18.27 and last traded at $18.16. Approximately 811,073 shares changed hands during trading, an increase of 82% from the average daily volume of 445,845 shares. The stock had previously closed at $17.18.

A number of research firms recently weighed in on MXL. JPMorgan Chase & Co. began coverage on shares of MaxLinear in a research note on Friday, January 4th. They set a “neutral” rating and a $18.00 price target for the company. Susquehanna Bancshares downgraded shares of MaxLinear from a “positive” rating to a “neutral” rating and lowered their price objective for the stock from $21.00 to $18.00 in a research report on Thursday, October 25th. Needham & Company LLC reissued a “buy” rating and set a $20.00 price objective on shares of MaxLinear in a research report on Wednesday, October 31st. UBS Group downgraded shares of MaxLinear from a “positive” rating to a “neutral” rating in a research report on Thursday, October 25th. Finally, Zacks Investment Research raised shares of MaxLinear from a “sell” rating to a “hold” rating in a research report on Wednesday, October 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. MaxLinear presently has an average rating of “Hold” and a consensus target price of $21.83.

The firm has a market capitalization of $1.25 billion, a P/E ratio of 15.93, a price-to-earnings-growth ratio of 1.12 and a beta of 0.96. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.99 and a current ratio of 2.62.

MaxLinear (NYSE:MXL) last announced its earnings results on Tuesday, October 30th. The semiconductor company reported $0.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.01. MaxLinear had a negative net margin of 11.18% and a positive return on equity of 15.35%. The business had revenue of $85.00 million during the quarter, compared to analysts’ expectations of $85.01 million. During the same quarter in the prior year, the company posted $0.39 earnings per share. The firm’s revenue was down 25.2% on a year-over-year basis. Equities research analysts forecast that MaxLinear, Inc. will post 0.67 earnings per share for the current fiscal year.

In other MaxLinear news, VP Michael J. Lachance sold 50,000 shares of the stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of $20.75, for a total value of $1,037,500.00. Following the completion of the sale, the vice president now owns 131,232 shares in the company, valued at $2,723,064. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP William Torgerson sold 12,500 shares of the stock in a transaction on Thursday, December 6th. The shares were sold at an average price of $19.61, for a total transaction of $245,125.00. Following the completion of the sale, the vice president now owns 104,761 shares of the company’s stock, valued at approximately $2,054,363.21. The disclosure for this sale can be found here. Insiders have sold 63,000 shares of company stock valued at $1,292,410 in the last 90 days. 11.47% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in MXL. Dynamic Technology Lab Private Ltd acquired a new stake in MaxLinear in the third quarter valued at $205,000. Riverhead Capital Management LLC raised its position in shares of MaxLinear by 68.8% in the third quarter. Riverhead Capital Management LLC now owns 10,800 shares of the semiconductor company’s stock valued at $215,000 after purchasing an additional 4,400 shares during the period. OppenheimerFunds Inc. raised its position in shares of MaxLinear by 29.0% in the second quarter. OppenheimerFunds Inc. now owns 13,990 shares of the semiconductor company’s stock valued at $218,000 after purchasing an additional 3,146 shares during the period. Captrust Financial Advisors bought a new position in shares of MaxLinear in the third quarter valued at about $226,000. Finally, Pacer Advisors Inc. bought a new position in shares of MaxLinear in the third quarter valued at about $239,000. Hedge funds and other institutional investors own 94.87% of the company’s stock.

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MaxLinear Company Profile (NYSE:MXL)

MaxLinear, Inc provides radio-frequency (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. The company offers range of semiconductor products, such as RF receivers and RF receiver SoCs, wireless infrastructure backhaul RF receivers and modem SoCs, laser modulator drivers, transimpedance amplifiers, clock and data recovery circuits, interface solutions, power management products, and data encryption and compression products.

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