MaxLinear (NASDAQ:MXL) Trading 6.1% Higher – Time to Buy?

MaxLinear, Inc. (NASDAQ:MXL) shot up 6.1% on Thursday . The stock traded as high as $15.59 and last traded at $15.59. 45,914 shares were traded during mid-day trading, a decline of 95% from the average session volume of 994,047 shares. The stock had previously closed at $14.69.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MXL. Benchmark reiterated a “buy” rating and issued a $22.00 price target on shares of MaxLinear in a research report on Thursday, October 24th. Northland Securities reduced their target price on MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Susquehanna cut MaxLinear from a “positive” rating to a “neutral” rating and reduced their target price for the stock from $26.00 to $15.00 in a research report on Tuesday, October 1st. Needham & Company LLC restated a “hold” rating on shares of MaxLinear in a research report on Thursday, October 24th. Finally, Craig Hallum reduced their target price on MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $23.86.

MaxLinear Stock Performance

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.95. The business has a 50 day moving average price of $14.34 and a two-hundred day moving average price of $16.30. The company has a market cap of $1.31 billion, a P/E ratio of -5.75 and a beta of 1.85.

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

Insider Buying and Selling

In other MaxLinear news, VP William Torgerson sold 6,100 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $15.40, for a total transaction of $93,940.00. Following the sale, the vice president now directly owns 179,262 shares in the company, valued at approximately $2,760,634.80. This trade represents a 3.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MaxLinear

Institutional investors and hedge funds have recently bought and sold shares of the business. Hood River Capital Management LLC purchased a new position in shares of MaxLinear during the second quarter valued at approximately $24,184,000. Vaughan Nelson Investment Management L.P. bought a new stake in shares of MaxLinear during the third quarter valued at approximately $16,696,000. Millennium Management LLC raised its stake in shares of MaxLinear by 307.9% during the second quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company’s stock valued at $21,039,000 after acquiring an additional 788,558 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of MaxLinear by 5.8% during the first quarter. Vanguard Group Inc. now owns 12,253,823 shares of the semiconductor company’s stock valued at $228,779,000 after acquiring an additional 667,550 shares in the last quarter. Finally, FMR LLC raised its stake in shares of MaxLinear by 184.5% during the third quarter. FMR LLC now owns 456,929 shares of the semiconductor company’s stock valued at $6,616,000 after acquiring an additional 296,339 shares in the last quarter. 90.79% of the stock is owned by institutional investors.

About MaxLinear

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.