MaxLinear (NASDAQ:MXL) Shares Gap Up – Here’s What Happened

MaxLinear, Inc (NASDAQ:MXL)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $75.01, but opened at $80.42. MaxLinear shares last traded at $80.7650, with a volume of 649,145 shares traded.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Wells Fargo & Company increased their price target on MaxLinear from $42.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday. Wall Street Zen lowered MaxLinear from a “buy” rating to a “hold” rating in a research report on Saturday. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $40.00 target price on shares of MaxLinear in a research note on Friday, April 24th. Roth Capital raised shares of MaxLinear from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Friday, April 24th. Finally, Stifel Nicolaus lifted their price target on shares of MaxLinear from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $71.00.

MaxLinear Stock Up 12.0%

The firm has a market cap of $7.52 billion, a P/E ratio of -55.34 and a beta of 3.91. The firm’s 50-day moving average price is $90.66 and its 200 day moving average price is $48.25. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.70 and a quick ratio of 1.12.

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

Insider Buying and Selling

In other MaxLinear news, insider Connie H. Kwong sold 35,000 shares of MaxLinear stock in a transaction on Friday, May 8th. The shares were sold at an average price of $96.96, for a total value of $3,393,600.00. Following the completion of the transaction, the insider owned 13,947 shares of the company’s stock, valued at $1,352,301.12. The trade was a 71.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Thomas E. Pardun sold 11,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $105.00, for a total transaction of $1,155,000.00. Following the sale, the director owned 55,252 shares of the company’s stock, valued at approximately $5,801,460. The trade was a 16.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 65,168 shares of company stock valued at $5,559,358 over the last quarter. Company insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MXL. Larson Financial Group LLC boosted its position in MaxLinear by 161.7% during the 4th quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 875 shares during the period. Smartleaf Asset Management LLC increased its stake in MaxLinear by 103.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 726 shares during the period. Northwestern Mutual Wealth Management Co. bought a new stake in shares of MaxLinear during the 4th quarter worth about $25,000. International Assets Investment Management LLC acquired a new stake in shares of MaxLinear in the 4th quarter worth approximately $27,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of MaxLinear by 16.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 217 shares during the period. 90.79% of the stock is owned by institutional investors and hedge funds.

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.