MaxLinear (NASDAQ:MXL) Trading 11% Higher – Here’s Why

MaxLinear, Inc (NASDAQ:MXL)’s share price shot up 11% on Monday . The company traded as high as $103.50 and last traded at $103.3540. Approximately 954,738 shares changed hands during trading, a decline of 69% from the average session volume of 3,108,558 shares. The stock had previously closed at $93.12.

Wall Street Analysts Forecast Growth

MXL has been the subject of a number of research analyst reports. Loop Capital raised shares of MaxLinear from a “hold” rating to a “buy” rating and lifted their target price for the stock from $17.00 to $75.00 in a research report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $40.00 price target on shares of MaxLinear in a report on Friday, April 24th. Wall Street Zen raised MaxLinear from a “hold” rating to a “buy” rating in a report on Sunday. Needham & Company LLC upgraded MaxLinear from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Friday, April 24th. Finally, Stifel Nicolaus upped their price objective on MaxLinear from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $65.50.

MaxLinear Trading Up 9.4%

The company has a quick ratio of 1.12, a current ratio of 1.70 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $9.12 billion, a PE ratio of -66.79 and a beta of 3.91. The stock’s fifty day simple moving average is $87.41 and its 200 day simple moving average is $42.94.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings data on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. MaxLinear had a negative net margin of 25.96% and a negative return on equity of 2.33%. The firm had revenue of $137.19 million during the quarter, compared to the consensus estimate of $137.15 million. During the same quarter in the previous year, the firm posted ($0.05) EPS. The company’s revenue for the quarter was up 43.0% compared to the same quarter last year. On average, sell-side analysts predict that MaxLinear, Inc will post 0.52 earnings per share for the current year.

Insider Transactions at MaxLinear

In other MaxLinear news, insider Connie H. Kwong sold 35,000 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was 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 owned 13,947 shares in the company, valued at $1,352,301.12. This represents a 71.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Thomas E. Pardun sold 11,000 shares of MaxLinear stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $105.00, for a total value of $1,155,000.00. Following the transaction, the director directly owned 55,252 shares in the company, valued at approximately $5,801,460. The trade was a 16.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 65,168 shares of company stock valued at $5,559,358. Company insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On MaxLinear

Hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its stake in shares of MaxLinear by 16.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 217 shares in the last quarter. Captrust Financial Advisors raised its holdings in MaxLinear by 4.3% during the fourth quarter. Captrust Financial Advisors now owns 14,074 shares of the semiconductor company’s stock valued at $245,000 after acquiring an additional 577 shares during the period. State of Alaska Department of Revenue lifted its position in shares of MaxLinear by 1.4% in the fourth quarter. State of Alaska Department of Revenue now owns 45,677 shares of the semiconductor company’s stock valued at $795,000 after acquiring an additional 632 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of MaxLinear by 4.3% in the fourth quarter. ProShare Advisors LLC now owns 16,048 shares of the semiconductor company’s stock worth $280,000 after acquiring an additional 664 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in shares of MaxLinear by 103.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 726 shares in the last quarter. 90.79% of the stock is currently owned by institutional investors.

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.