Shares of MaxLinear, Inc. (NASDAQ:MXL - Get Free Report) rose 8.2% on Wednesday . The stock traded as high as $22.40 and last traded at $22.40. Approximately 690,672 shares were traded during mid-day trading, a decline of 45% from the average daily volume of 1,248,241 shares. The stock had previously closed at $20.70.
Wall Street Analyst Weigh In
MXL has been the subject of a number of research reports. Needham & Company LLC reissued a "hold" rating on shares of MaxLinear in a research note on Thursday, October 24th. Benchmark increased their target price on MaxLinear from $22.00 to $28.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Wells Fargo & Company raised their price target on MaxLinear from $14.00 to $19.00 and gave the company an "equal weight" rating in a research report on Monday. Susquehanna cut MaxLinear from a "positive" rating to a "neutral" rating and cut their price objective for the stock from $26.00 to $15.00 in a report on Tuesday, October 1st. Finally, Northland Securities increased their price objective on MaxLinear from $25.00 to $27.50 and gave the company an "outperform" rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $24.21.
Get Our Latest Analysis on MXL
MaxLinear Stock Performance
The company has a quick ratio of 1.38, a current ratio of 1.95 and a debt-to-equity ratio of 0.22. The company has a fifty day moving average price of $18.20 and a 200 day moving average price of $16.37. The stock has a market cap of $1.88 billion, a PE ratio of -8.20 and a beta of 1.79.
MaxLinear (NASDAQ:MXL - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.04). The company had revenue of $81.10 million during the quarter, compared to the consensus estimate of $80.40 million. MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. The business's revenue for the quarter was down 40.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.02) EPS. Analysts expect that MaxLinear, Inc. will post -1.66 earnings per share for the current year.
Insider Activity at MaxLinear
In other MaxLinear news, VP William Torgerson sold 6,100 shares of the business's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $15.40, for a total value of $93,940.00. Following the transaction, the vice president now owns 179,262 shares in the company, valued at approximately $2,760,634.80. The trade was a 3.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven G. Litchfield sold 32,000 shares of the firm's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $20.35, for a total value of $651,200.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,900 shares of company stock worth $927,278 in the last three months. 8.60% of the stock is owned by insiders.
Hedge Funds Weigh In On MaxLinear
Hedge funds and other institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC purchased a new position in MaxLinear during the 2nd quarter valued at $540,000. Dimensional Fund Advisors LP increased its position in shares of MaxLinear by 10.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,071,183 shares of the semiconductor company's stock valued at $41,714,000 after buying an additional 192,021 shares during the period. Edgestream Partners L.P. raised its stake in MaxLinear by 19.2% in the second quarter. Edgestream Partners L.P. now owns 125,542 shares of the semiconductor company's stock worth $2,528,000 after buying an additional 20,187 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in MaxLinear in the second quarter worth about $56,000. Finally, Sei Investments Co. boosted its position in MaxLinear by 40.5% during the 2nd quarter. Sei Investments Co. now owns 30,537 shares of the semiconductor company's stock valued at $615,000 after acquiring an additional 8,808 shares in the last quarter. Institutional investors own 90.79% of the company's stock.
About MaxLinear
(
Get Free Report)
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.
Read More
Before you consider MaxLinear, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MaxLinear wasn't on the list.
While MaxLinear currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Do you expect the global demand for energy to shrink?! If not, it's time to take a look at how energy stocks can play a part in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
