MaxLinear (NASDAQ:MXL) Trading 7% Higher – Time to Buy?

Shares of MaxLinear, Inc (NASDAQ:MXL) were up 7% during trading on Monday . The stock traded as high as $77.86 and last traded at $76.8940. Approximately 523,750 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 3,096,129 shares. The stock had previously closed at $71.84.

Wall Street Analysts Forecast Growth

MXL has been the topic of several analyst reports. Wall Street Zen lowered shares of MaxLinear from a “buy” rating to a “hold” rating in a research note on Saturday. Wells Fargo & Company lifted their price objective on shares of MaxLinear from $42.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday. Benchmark started coverage on shares of MaxLinear in a report on Wednesday, May 27th. They issued a “buy” rating and a $125.00 price objective for the company. Roth Capital raised shares of MaxLinear from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Friday, April 24th. Finally, Loop Capital raised shares of 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 report on Wednesday, April 29th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, MaxLinear currently has a consensus rating of “Hold” and a consensus target price of $71.00.

MaxLinear Price Performance

The company has a current ratio of 1.70, a quick ratio of 1.12 and a debt-to-equity ratio of 0.27. The stock has a fifty day simple moving average of $90.55 and a 200-day simple moving average of $48.73. The stock has a market cap of $7.71 billion, a price-to-earnings ratio of -56.62 and a beta of 3.91.

MaxLinear (NASDAQ:MXL) last issued its quarterly 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. The company 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%.The company’s quarterly revenue was up 43.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.05) earnings per share. As a group, equities research analysts expect that MaxLinear, Inc will post 0.5 EPS for the current year.

Insiders Place Their Bets

In other MaxLinear news, 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 directly owned 13,947 shares of the company’s stock, valued at $1,352,301.12. This represents a 71.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas E. Pardun sold 11,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $105.00, for a total transaction of $1,155,000.00. Following the completion of the sale, the director owned 55,252 shares in the company, valued at $5,801,460. This represents a 16.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 65,168 shares of company stock valued at $5,559,358. Insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On MaxLinear

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in MaxLinear by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 13,326,387 shares of the semiconductor company’s stock valued at $232,279,000 after acquiring an additional 605,903 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of MaxLinear by 27.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,889,111 shares of the semiconductor company’s stock worth $41,054,000 after purchasing an additional 628,719 shares in the last quarter. Invesco Ltd. grew its holdings in shares of MaxLinear by 419.9% during the 4th 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. Geode Capital Management LLC increased its position in shares of MaxLinear by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 2,038,144 shares of the semiconductor company’s stock valued at $35,531,000 after purchasing an additional 28,548 shares during the period. Finally, Marshall Wace LLP increased its position in shares of MaxLinear by 31.8% during the third quarter. Marshall Wace LLP now owns 1,826,259 shares of the semiconductor company’s stock valued at $29,366,000 after purchasing an additional 441,088 shares during the period. 90.79% of the stock is 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.