MaxLinear (NASDAQ:MXL) Stock Price Up 13.2% – Time to Buy?

Shares of MaxLinear, Inc (NASDAQ:MXL) rose 13.2% on Friday. The stock traded as high as $100.98 and last traded at $104.2740. Approximately 668,254 shares were traded during mid-day trading, a decline of 78% from the average session volume of 3,091,964 shares. The stock had previously closed at $92.12.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Morgan Stanley set a $125.00 price objective on shares of MaxLinear in a report on Monday, September 14th. Wells Fargo & Company upped their target price on shares of MaxLinear from $42.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, July 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxLinear in a research note on Friday, July 17th. Wall Street Zen upgraded shares of MaxLinear from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. Finally, Susquehanna boosted their price target on shares of MaxLinear from $45.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $88.64.

MaxLinear Stock Up 11.1%

The firm has a market capitalization of $9.28 billion, a PE ratio of -86.11 and a beta of 3.92. The company has a fifty day moving average price of $71.78 and a 200-day moving average price of $68.58. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.15 and a current ratio of 1.78.

MaxLinear (NASDAQ:MXL) last posted its earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. MaxLinear had a negative net margin of 18.24% and a positive return on equity of 2.24%. The firm had revenue of $168.85 million during the quarter, compared to analyst estimates of $164.64 million. During the same period last year, the firm posted $0.02 earnings per share. MaxLinear’s revenue for the quarter was up 55.2% compared to the same quarter last year. As a group, analysts expect that MaxLinear, Inc will post 0.78 earnings per share for the current year.

Insider Activity at MaxLinear

In other MaxLinear news, CEO Kishore Seendripu sold 351,454 shares of MaxLinear stock in a transaction on Monday, August 17th. The shares were sold at an average price of $85.95, for a total value of $30,207,471.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in MaxLinear during the second quarter worth approximately $1,754,062,000. Dimensional Fund Advisors LP lifted its stake in shares of MaxLinear by 7.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,689,692 shares of the semiconductor company’s stock valued at $29,376,000 after purchasing an additional 113,058 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of MaxLinear in the 2nd quarter worth approximately $165,221,000. AIGH Capital Management LLC purchased a new position in shares of MaxLinear in the 2nd quarter worth approximately $104,729,000. Finally, BNP Paribas Financial Markets increased its position in shares of MaxLinear by 42.0% during the 4th quarter. BNP Paribas Financial Markets now owns 758,109 shares of the semiconductor company’s stock valued at $13,214,000 after purchasing an additional 224,217 shares during the last quarter. Hedge funds and other institutional investors own 90.79% of the company’s stock.

MaxLinear Company Profile

MaxLinear, Inc is a fabless semiconductor company that develops high-performance analog and mixed-signal integrated circuits for communications and connectivity applications. Its products are designed to help equipment manufacturers process, transmit and manage data across broadband, wired and wireless infrastructure, data center, and industrial systems.

The company’s product portfolio includes broadband access and connectivity solutions, RF and microwave components, Ethernet and high-speed interconnect products, optical networking technologies, and power-management devices.