MaxLinear (NASDAQ:MXL) Shares Up 5.9% – Here’s Why

MaxLinear, Inc (NASDAQ:MXL) shares traded up 5.9% during mid-day trading on Friday . The stock traded as high as $90.09 and last traded at $93.9890. 2,244,131 shares traded hands during trading, a decline of 15% from the average session volume of 2,626,163 shares. The stock had previously closed at $88.78.

Wall Street Analyst Weigh In

MXL has been the subject of several recent analyst reports. Northland Securities set a $55.00 price objective on shares of MaxLinear in a research report on Friday, April 24th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $40.00 price target on shares of MaxLinear in a research report on Friday, April 24th. Benchmark started coverage on shares of MaxLinear in a research report on Tuesday. They set a “buy” rating and a $28.00 price target for the company. Loop Capital upgraded shares of MaxLinear from a “hold” rating to a “buy” rating and lifted their price target for the company from $17.00 to $75.00 in a research report on Wednesday, April 29th. Finally, Roth Mkm upgraded shares of MaxLinear from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $44.20.

MaxLinear Stock Up 5.0%

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 $8.35 billion, a price-to-earnings ratio of -61.31 and a beta of 3.95. The business’s fifty day moving average is $35.05 and its two-hundred day moving average is $23.56.

MaxLinear (NASDAQ:MXL) last released its earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.18 by $0.04. The company had revenue of $137.19 million during the quarter, compared to analysts’ expectations of $137.15 million. MaxLinear had a negative net margin of 25.96% and a negative return on equity of 2.33%. The business’s revenue was up 43.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.05) EPS. Equities analysts forecast that MaxLinear, Inc will post 0.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MaxLinear news, insider Steven G. Litchfield sold 20,000 shares of the business’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $15.68, for a total transaction of $313,600.00. Following the completion of the sale, the insider owned 343,435 shares in the company, valued at $5,385,060.80. The trade was a 5.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Connie H. Kwong sold 35,000 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $96.96, for a total transaction of $3,393,600.00. Following the sale, the insider owned 13,947 shares of the company’s stock, valued at approximately $1,352,301.12. The trade was a 71.51% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 99,097 shares of company stock valued at $5,150,815. Insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On MaxLinear

A number of institutional investors have recently added to or reduced their stakes in the company. Entropy Technologies LP acquired a new stake in MaxLinear during the first quarter worth about $301,000. Renaissance Technologies LLC lifted its position in MaxLinear by 297.7% in the first quarter. Renaissance Technologies LLC now owns 445,913 shares of the semiconductor company’s stock worth $7,754,000 after purchasing an additional 333,800 shares during the period. Sei Investments Co. lifted its position in MaxLinear by 108.3% in the first quarter. Sei Investments Co. now owns 405,224 shares of the semiconductor company’s stock worth $7,047,000 after purchasing an additional 210,685 shares during the period. Globeflex Capital L P bought a new position in MaxLinear in the first quarter worth $131,000. Finally, Summit Global Investments lifted its position in MaxLinear by 15.4% in the first quarter. Summit Global Investments now owns 66,942 shares of the semiconductor company’s stock worth $1,164,000 after purchasing an additional 8,935 shares during the period. 90.79% of the stock is owned by institutional investors and hedge funds.

About MaxLinear

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.