MaxLinear (NASDAQ:MXL) Trading Up 7.1% – Here’s Why

MaxLinear, Inc. (NASDAQ:MXL) shares were up 7.1% on Wednesday . The company traded as high as $19.28 and last traded at $19.27. Approximately 517,918 shares were traded during trading, a decline of 50% from the average daily volume of 1,029,397 shares. The stock had previously closed at $18.00.

Analyst Upgrades and Downgrades

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

MaxLinear Stock Performance

The stock’s fifty day moving average price is $15.23 and its two-hundred day moving average price is $16.08. The company has a market cap of $1.74 billion, a P/E ratio of -7.86 and a beta of 1.87. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.95.

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

Insider Buying and Selling at MaxLinear

In other news, insider Connie H. Kwong sold 5,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $18.61, for a total value of $93,050.00. Following the completion of the transaction, the insider now directly owns 49,147 shares in the company, valued at approximately $914,625.67. This represents a 9.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ted L. Tewksbury III sold 5,800 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $15.36, for a total value of $89,088.00. Following the sale, the director now owns 69,717 shares in the company, valued at $1,070,853.12. This represents a 7.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,900 shares of company stock worth $276,078 over the last 90 days. Insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

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