MaxLinear (NASDAQ:MXL) Stock Price Up 5.3% – Here’s Why

MaxLinear, Inc. (NASDAQ:MXL) shares traded up 5.3% on Wednesday . The company traded as high as $20.64 and last traded at $20.58. 377,115 shares were traded during mid-day trading, a decline of 64% from the average session volume of 1,040,636 shares. The stock had previously closed at $19.55.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MXL shares. Susquehanna lowered shares of MaxLinear from a “positive” rating to a “neutral” rating and dropped their price objective for the stock from $26.00 to $15.00 in a report on Tuesday, October 1st. Wells Fargo & Company started coverage on MaxLinear in a report on Friday, November 22nd. They set an “equal weight” rating and a $14.00 price objective for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a research report on Thursday, October 24th. Benchmark raised their price target on shares of MaxLinear from $22.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Craig Hallum reduced their target price on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $23.14.

MaxLinear Stock Down 0.8 %

The company has a market cap of $1.64 billion, a price-to-earnings ratio of -7.13 and a beta of 1.87. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.95 and a quick ratio of 1.38. The firm has a 50-day moving average price of $15.64 and a 200 day moving average price of $16.09.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. The firm had revenue of $81.10 million during the quarter, compared to analyst estimates of $80.40 million. During the same period in the prior year, the company earned ($0.02) earnings per share. The business’s quarterly revenue was down 40.2% compared to the same quarter last year. Sell-side analysts predict that MaxLinear, Inc. will post -1.66 EPS for the current year.

Insider Activity

In other MaxLinear news, insider Steven G. Litchfield sold 32,000 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $20.35, for a total transaction of $651,200.00. Following the completion of the sale, the insider now directly owns 365,868 shares in the company, valued at $7,445,413.80. This represents a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP William Torgerson sold 6,100 shares of MaxLinear stock in a transaction on Friday, November 8th. The shares were sold at an average price of $15.40, for a total value of $93,940.00. Following the completion of the transaction, the vice president now owns 179,262 shares in the company, valued at approximately $2,760,634.80. The trade was a 3.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,900 shares of company stock worth $927,278. Corporate insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On MaxLinear

A number of hedge funds and other institutional investors have recently bought and sold shares of MXL. Louisiana State Employees Retirement System lifted its holdings in MaxLinear by 3.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 38,000 shares of the semiconductor company’s stock worth $765,000 after buying an additional 1,100 shares during the period. Nisa Investment Advisors LLC raised its holdings in MaxLinear by 20.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 7,761 shares of the semiconductor company’s stock worth $112,000 after purchasing an additional 1,308 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of MaxLinear in the 2nd quarter worth approximately $30,000. International Assets Investment Management LLC bought a new stake in shares of MaxLinear in the 2nd quarter valued at $31,000. Finally, GAMMA Investing LLC increased its position in shares of MaxLinear by 151.8% during the third quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock worth $50,000 after buying an additional 2,093 shares during the period. Institutional investors own 90.79% of the company’s stock.

MaxLinear Company Profile

MaxLinear, Inc provides communications systems-on-chip solutions worldwide. Its products integrate various portions of a high-speed communication system, including radio frequency, high-performance analog, mixed-signal, digital signal processing, security engines, data compression and networking layers, and power management.