MaxLinear (NASDAQ:MXL) Trading 7.3% Higher – Here’s Why

MaxLinear, Inc (NASDAQ:MXL) was up 7.3% during mid-day trading on Monday . The stock traded as high as $106.20 and last traded at $103.6890. 2,318,767 shares were traded during mid-day trading, a decline of 24% from the average session volume of 3,049,515 shares. The stock had previously closed at $96.60.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Roth Mkm upgraded MaxLinear from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Friday, April 24th. Benchmark initiated coverage on MaxLinear in a report on Wednesday, May 27th. They set a “buy” rating and a $125.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $40.00 price objective on shares of MaxLinear in a research report on Friday, April 24th. Finally, Loop Capital upgraded MaxLinear from a “hold” rating to a “buy” rating and increased their target price for the stock from $17.00 to $75.00 in a research note on Wednesday, April 29th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $65.50.

MaxLinear Price Performance

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.12 and a current ratio of 1.70. The firm has a market capitalization of $11.46 billion, a P/E ratio of -84.17 and a beta of 3.98. The stock’s 50 day simple moving average is $83.42 and its 200 day simple moving average is $41.21.

MaxLinear (NASDAQ:MXL) last issued its earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $137.19 million for the quarter, compared to analyst estimates of $137.15 million. During the same period last year, the company posted ($0.05) earnings per share. The company’s quarterly revenue was up 43.0% compared to the same quarter last year. As a group, analysts expect that MaxLinear, Inc will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling at MaxLinear

In other MaxLinear news, Director Thomas E. Pardun sold 11,000 shares of the company’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 sale, the director directly owned 55,252 shares in the company, valued at approximately $5,801,460. This represents a 16.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Connie H. Kwong sold 35,000 shares of the company’s stock in a transaction 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 completion of the sale, the insider owned 13,947 shares of the company’s stock, 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. Insiders have sold a total of 65,168 shares of company stock worth $5,559,358 over the last 90 days. 7.70% of the stock is currently owned by company insiders.

Institutional Trading of MaxLinear

Several institutional investors and hedge funds have recently made changes to their positions in MXL. EverSource Wealth Advisors LLC grew its holdings in MaxLinear by 16.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 217 shares in the last quarter. Captrust Financial Advisors raised its holdings in shares of MaxLinear by 4.3% in the 4th quarter. Captrust Financial Advisors now owns 14,074 shares of the semiconductor company’s stock valued at $245,000 after purchasing an additional 577 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of MaxLinear by 1.4% during the fourth quarter. State of Alaska Department of Revenue now owns 45,677 shares of the semiconductor company’s stock valued at $795,000 after purchasing an additional 632 shares in the last quarter. ProShare Advisors LLC increased its holdings in MaxLinear by 4.3% during the fourth quarter. ProShare Advisors LLC now owns 16,048 shares of the semiconductor company’s stock valued at $280,000 after buying an additional 664 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in MaxLinear by 103.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 726 shares during the period. 90.79% of the stock is currently owned by 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.