Stock Traders Purchase High Volume of MaxLinear Call Options (NASDAQ:MXL)

MaxLinear, Inc (NASDAQ:MXL) was the recipient of unusually large options trading on Monday. Traders bought 8,566 call options on the company. This represents an increase of approximately 74% compared to the typical volume of 4,914 call options.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MXL shares. Benchmark began coverage on shares of MaxLinear in a research report on Wednesday, May 27th. They issued a “buy” rating and a $125.00 price objective for the company. Northland Securities set a $110.00 target price on shares of MaxLinear in a research note on Wednesday, June 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxLinear in a report on Tuesday, April 21st. Roth Capital upgraded 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, Susquehanna reissued a “neutral” rating and issued a $30.00 price objective on shares of MaxLinear in a research report on Monday, April 20th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $65.50.

MaxLinear Stock Down 3.2%

Shares of MaxLinear stock traded down $2.88 on Monday, hitting $88.42. 1,466,088 shares of the company’s stock traded hands, compared to its average volume of 3,102,660. MaxLinear has a 52-week low of $12.77 and a 52-week high of $128.30. The company has a quick ratio of 1.12, a current ratio of 1.70 and a debt-to-equity ratio of 0.27. The stock has a market cap of $7.92 billion, a P/E ratio of -58.12 and a beta of 3.91. The firm’s 50-day moving average is $91.19 and its 200 day moving average is $45.53.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share (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 firm had revenue of $137.19 million for the quarter, compared to analysts’ expectations of $137.15 million. During the same period in the prior year, the company posted ($0.05) earnings per share. The firm’s quarterly revenue was up 43.0% on a year-over-year basis. Equities analysts anticipate that MaxLinear will post 0.52 earnings per share for the current year.

Insider Buying and Selling

In other MaxLinear news, Director Thomas E. Pardun sold 11,000 shares of the business’s stock in a transaction 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 transaction, the director directly owned 55,252 shares in the company, valued at approximately $5,801,460. The trade was a 16.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Connie H. Kwong sold 35,000 shares of the firm’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 completion of the sale, the insider directly 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. The SEC filing for this sale provides additional information. In the last three months, insiders sold 65,168 shares of company stock valued at $5,559,358. Company insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On MaxLinear

Several large investors have recently modified their holdings of the stock. Invesco Ltd. grew its stake in MaxLinear by 419.9% in the fourth quarter. Invesco Ltd. now owns 2,149,589 shares of the semiconductor company’s stock worth $37,467,000 after purchasing an additional 1,736,141 shares in the last quarter. Paradigm Capital Management Inc. NY raised its stake in MaxLinear by 582.7% during the fourth quarter. Paradigm Capital Management Inc. NY now owns 861,000 shares of the semiconductor company’s stock valued at $15,007,000 after buying an additional 734,875 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in 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 buying an additional 628,719 shares in the last quarter. Defiance ETFs LLC bought a new position in MaxLinear during the 4th quarter worth approximately $10,944,000. Finally, Vanguard Group Inc. grew its position in shares of MaxLinear by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 13,326,387 shares of the semiconductor company’s stock worth $232,279,000 after acquiring an additional 605,903 shares in 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.