MaxLinear (NYSE:MXL) Sees Strong Trading Volume

Shares of MaxLinear, Inc. (NYSE:MXL) saw an uptick in trading volume on Thursday . 775,600 shares changed hands during trading, a decline of 10% from the previous session’s volume of 865,421 shares.The stock last traded at $12.82 and had previously closed at $11.93.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Stifel Nicolaus boosted their price objective on MaxLinear from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Needham & Company LLC cut shares of MaxLinear from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Benchmark cut their target price on shares of MaxLinear from $28.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Susquehanna reduced their price target on MaxLinear from $30.00 to $26.00 and set a “positive” rating on the stock in a research report on Thursday, July 25th. Finally, Craig Hallum lowered their price target on MaxLinear from $38.00 to $28.00 and set a “hold” rating for the company in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $24.67.

MaxLinear Stock Performance

The stock’s 50-day moving average price is $17.29 and its 200 day moving average price is $18.65. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.09 and a quick ratio of 1.59. The firm has a market cap of $1.10 billion, a P/E ratio of -6.74 and a beta of 1.85.

MaxLinear (NYSE:MXL) last issued its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.06). MaxLinear had a negative net margin of 42.38% and a negative return on equity of 12.39%. The company had revenue of $92.00 million for the quarter, compared to analyst estimates of $100.25 million. During the same period last year, the company posted $0.19 earnings per share. The business’s revenue for the quarter was down 50.0% on a year-over-year basis. As a group, equities analysts predict that MaxLinear, Inc. will post -1.6 EPS for the current year.

Insider Buying and Selling

In other news, CEO Kishore Seendripu acquired 108,303 shares of the stock in a transaction on Tuesday, July 30th. The shares were purchased at an average price of $12.94 per share, for a total transaction of $1,401,440.82. Following the transaction, the chief executive officer now directly owns 531,937 shares of the company’s stock, valued at $6,883,264.78. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 8.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC acquired a new stake in shares of MaxLinear during the 1st quarter worth approximately $27,000. Innealta Capital LLC acquired a new stake in MaxLinear in the second quarter valued at about $30,000. International Assets Investment Management LLC bought a new position in MaxLinear in the second quarter valued at about $31,000. Canada Pension Plan Investment Board acquired a new position in MaxLinear during the second quarter worth about $56,000. Finally, EntryPoint Capital LLC bought a new position in shares of MaxLinear in the first quarter worth about $59,000. 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.