MaxLinear (NASDAQ:MXL) Trading Up 5.3% - Time to Buy?

MaxLinear, Inc. (NASDAQ:MXL - Get Free Report) traded up 5.3% during mid-day trading on Wednesday . The stock traded as high as $20.64 and last traded at $20.58. 377,115 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 1,040,636 shares. The stock had previously closed at $19.55.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MXL. Craig Hallum lowered their price objective on MaxLinear from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Thursday, October 24th. Susquehanna lowered shares of MaxLinear from a "positive" rating to a "neutral" rating and lowered their price target for the stock from $26.00 to $15.00 in a research report on Tuesday, October 1st. Benchmark increased their price objective on shares of MaxLinear from $22.00 to $28.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Needham & Company LLC reissued a "hold" rating on shares of MaxLinear in a research note on Thursday, October 24th. Finally, Wells Fargo & Company assumed coverage on shares of MaxLinear in a research note on Friday, November 22nd. They issued an "equal weight" rating and a $14.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $23.14.

MaxLinear Stock Performance

The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -7.13 and a beta of 1.87. The company's 50 day simple moving average is $15.64 and its 200 day simple moving average is $16.09. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.95.

MaxLinear (NASDAQ:MXL - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.04). The company had revenue of $81.10 million for the quarter, compared to analyst estimates of $80.40 million. MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. MaxLinear's revenue was down 40.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.02) EPS. On average, equities research analysts anticipate that MaxLinear, Inc. will post -1.66 earnings per share for the current year.

Insider Transactions at MaxLinear

In related 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 in the company, valued at $7,445,413.80. The trade was a 8.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Connie H. Kwong sold 5,000 shares of the firm's 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 sale, the insider now owns 49,147 shares of the company's stock, valued at $914,625.67. The trade was a 9.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,900 shares of company stock valued at $927,278. Corporate insiders own 8.60% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MXL. Geode Capital Management LLC raised its stake in MaxLinear by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,805,722 shares of the semiconductor company's stock valued at $26,152,000 after purchasing an additional 6,420 shares during the period. Barclays PLC raised its position in MaxLinear by 47.6% during the third quarter. Barclays PLC now owns 335,804 shares of the semiconductor company's stock valued at $4,860,000 after buying an additional 108,346 shares during the period. Public Employees Retirement System of Ohio lifted its stake in MaxLinear by 4,298.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 20,979 shares of the semiconductor company's stock worth $304,000 after acquiring an additional 20,502 shares in the last quarter. Orion Portfolio Solutions LLC boosted its position in MaxLinear by 35.7% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 32,259 shares of the semiconductor company's stock worth $467,000 after acquiring an additional 8,495 shares during the period. Finally, Two Sigma Advisers LP grew its stake in MaxLinear by 21.8% during the 3rd quarter. Two Sigma Advisers LP now owns 694,149 shares of the semiconductor company's stock valued at $10,051,000 after acquiring an additional 124,300 shares in the last quarter. 90.79% of the stock is currently owned by institutional investors and hedge funds.

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.