MaxLinear (NASDAQ:MXL) Shares Gap Up – Should You Buy?

MaxLinear, Inc (NASDAQ:MXL) shares gapped up prior to trading on Tuesday . The stock had previously closed at $75.01, but opened at $80.42. MaxLinear shares last traded at $80.7650, with a volume of 649,145 shares.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MXL. Weiss Ratings reiterated a “sell (d-)” rating on shares of MaxLinear in a research report on Friday. Stifel Nicolaus upped their price objective on MaxLinear from $105.00 to $110.00 and gave the company a “buy” rating in a report on Monday, June 29th. Northland Securities set a $110.00 target price on MaxLinear in a research note on Wednesday, June 3rd. Susquehanna reaffirmed a “neutral” rating and set a $30.00 target price on shares of MaxLinear in a report on Monday, April 20th. Finally, Needham & Company LLC upgraded shares of MaxLinear from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $71.00.

MaxLinear Stock Up 12.0%

The company has a market capitalization of $7.52 billion, a price-to-earnings ratio of -55.34 and a beta of 3.91. 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 business has a 50-day moving average price of $90.66 and a 200-day moving average price of $48.25.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. The business had revenue of $137.19 million during the quarter, compared to analyst estimates of $137.15 million. MaxLinear had a negative return on equity of 2.33% and a negative net margin of 25.96%.MaxLinear’s revenue for the quarter was up 43.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.05) EPS. As a group, equities analysts anticipate that MaxLinear, Inc will post 0.52 earnings per share for the current fiscal 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 shares were sold at an average price of $105.00, for a total transaction of $1,155,000.00. Following the sale, the director directly owned 55,252 shares of the company’s stock, valued at $5,801,460. The trade was a 16.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Connie H. Kwong sold 35,000 shares of the stock in a transaction on Friday, May 8th. The shares were 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 of the company’s stock, valued at $1,352,301.12. The trade was a 71.51% 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 $5,559,358 in the last ninety days. Company insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On MaxLinear

A number of institutional investors have recently bought and sold shares of MXL. Royal Bank of Canada grew its position in MaxLinear by 3.1% during the first quarter. Royal Bank of Canada now owns 72,664 shares of the semiconductor company’s stock valued at $789,000 after purchasing an additional 2,204 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of MaxLinear by 56.0% during the 1st quarter. AQR Capital Management LLC now owns 296,297 shares of the semiconductor company’s stock valued at $3,218,000 after buying an additional 106,355 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of MaxLinear by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,437 shares of the semiconductor company’s stock valued at $515,000 after buying an additional 2,043 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of MaxLinear by 0.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 535,230 shares of the semiconductor company’s stock valued at $5,813,000 after acquiring an additional 2,039 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of MaxLinear by 23.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 182,362 shares of the semiconductor company’s stock worth $1,980,000 after acquiring an additional 35,152 shares during the last quarter. 90.79% of the stock is currently owned by institutional investors and hedge funds.

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.