MaxLinear (NASDAQ:MXL) Stock Price Up 22.6% - Here's What Happened

MaxLinear, Inc. (NASDAQ:MXL - Get Free Report) shares traded up 22.6% during mid-day trading on Wednesday . The company traded as high as $11.37 and last traded at $11.22. 904,595 shares traded hands during trading, a decline of 53% from the average session volume of 1,912,997 shares. The stock had previously closed at $9.15.

Analyst Ratings Changes

MXL has been the subject of a number of recent analyst reports. Northland Securities boosted their target price on shares of MaxLinear from $25.00 to $27.50 and gave the company an "outperform" rating in a research note on Monday, January 6th. Susquehanna dropped their target price on MaxLinear from $25.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, January 30th. Needham & Company LLC reaffirmed a "hold" rating on shares of MaxLinear in a research report on Thursday, January 30th. Wells Fargo & Company increased their price target on MaxLinear from $19.00 to $20.00 and gave the company an "equal weight" rating in a research note on Thursday, January 30th. Finally, Benchmark restated a "buy" rating and set a $28.00 price target on shares of MaxLinear in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, MaxLinear presently has a consensus rating of "Hold" and an average target price of $25.50.

MaxLinear Trading Up 0.6 %

The company has a current ratio of 1.77, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24. The firm has a market cap of $837.88 million, a PE ratio of -3.38 and a beta of 1.82. The company has a 50-day simple moving average of $13.24 and a 200 day simple moving average of $15.97.

MaxLinear (NASDAQ:MXL - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.14). MaxLinear had a negative net margin of 68.01% and a negative return on equity of 21.94%. As a group, sell-side analysts forecast that MaxLinear, Inc. will post -0.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MaxLinear

Institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its position in MaxLinear by 339.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,250,769 shares of the semiconductor company's stock worth $24,740,000 after acquiring an additional 966,468 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of MaxLinear by 44.6% during the third quarter. JPMorgan Chase & Co. now owns 935,739 shares of the semiconductor company's stock worth $13,550,000 after buying an additional 288,607 shares during the period. State Street Corp lifted its holdings in MaxLinear by 5.1% during the 3rd quarter. State Street Corp now owns 4,123,419 shares of the semiconductor company's stock worth $59,707,000 after buying an additional 198,791 shares in the last quarter. Barclays PLC boosted its position in MaxLinear by 47.6% in the 3rd 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. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in MaxLinear by 10.0% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,268,857 shares of the semiconductor company's stock valued at $25,098,000 after purchasing an additional 115,867 shares during the period. 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.