MaxLinear (NASDAQ:MXL) Trading Up 9.8% – Here’s Why

MaxLinear, Inc. (NASDAQ:MXL)’s stock price rose 9.8% on Wednesday . The stock traded as high as $15.58 and last traded at $15.64. Approximately 1,906,480 shares traded hands during trading, a decline of 7% from the average daily volume of 2,056,680 shares. The stock had previously closed at $14.25.

Wall Street Analyst Weigh In

MXL has been the topic of a number of recent analyst reports. Northland Securities increased their price target on shares of MaxLinear from $25.00 to $27.50 and gave the stock an “outperform” rating in a report on Monday, January 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a report on Thursday, January 30th. Wells Fargo & Company boosted their price objective on MaxLinear from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Susquehanna cut their price target on shares of MaxLinear from $25.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Finally, Benchmark restated a “buy” rating and set a $28.00 price target on shares of MaxLinear in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, MaxLinear has a consensus rating of “Hold” and a consensus price target of $25.50.

MaxLinear Stock Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.28 and a current ratio of 1.77. The firm’s 50-day moving average price is $19.50 and its two-hundred day moving average price is $16.37. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -5.31 and a beta of 1.77.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.14). MaxLinear had a negative net margin of 68.01% and a negative return on equity of 21.94%. On average, analysts expect that MaxLinear, Inc. will post -0.37 EPS for the current fiscal year.

Insider Buying and Selling at MaxLinear

In other news, insider Steven G. Litchfield sold 32,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $20.35, for a total value of $651,200.00. Following the sale, the insider now directly owns 365,868 shares of the company’s stock, valued at approximately $7,445,413.80. The trade was a 8.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Connie H. Kwong sold 5,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $18.61, for a total transaction of $93,050.00. Following the transaction, the insider now directly owns 49,147 shares of the company’s stock, valued at $914,625.67. The trade was a 9.23 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On MaxLinear

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. boosted its stake in shares of MaxLinear by 29.0% in the 4th quarter. Pacer Advisors Inc. now owns 1,968 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 443 shares during the period. Price T Rowe Associates Inc. MD raised its stake in MaxLinear by 1.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 60,406 shares of the semiconductor company’s stock valued at $1,195,000 after buying an additional 631 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of MaxLinear by 19.1% in the 4th quarter. GAMMA Investing LLC now owns 4,134 shares of the semiconductor company’s stock valued at $82,000 after acquiring an additional 662 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of 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 buying an additional 1,308 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new stake in MaxLinear in the fourth quarter valued at $34,000. Hedge funds and other 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.