MaxLinear (NASDAQ:MXL) Trading Up 5.8% - Here's Why

MaxLinear, Inc. (NASDAQ:MXL - Get Free Report) shares traded up 5.8% during trading on Tuesday . The company traded as high as $19.80 and last traded at $20.14. 338,386 shares traded hands during trading, a decline of 79% from the average session volume of 1,607,933 shares. The stock had previously closed at $19.04.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of MaxLinear from $19.00 to $20.00 and gave the company an "equal weight" rating in a research report on Thursday. Benchmark reaffirmed a "buy" rating and set a $28.00 price objective on shares of MaxLinear in a research report on Thursday. Needham & Company LLC reissued a "hold" rating on shares of MaxLinear in a research report on Thursday. Craig Hallum dropped their price target on shares of MaxLinear from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Thursday, October 24th. Finally, Northland Securities increased their price target on shares of MaxLinear from $25.00 to $27.50 and gave the stock an "outperform" rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $25.50.

MaxLinear Price Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 1.95 and a quick ratio of 1.38. The stock has a market capitalization of $1.51 billion, a P/E ratio of -6.10 and a beta of 1.79. The company's 50 day simple moving average is $19.80 and its two-hundred day simple moving average is $16.44.

MaxLinear (NASDAQ:MXL - Get Free Report) last issued its quarterly earnings data 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 return on equity of 21.15% and a negative net margin of 68.01%. As a group, equities analysts expect that MaxLinear, Inc. will post -0.21 EPS for the current fiscal year.

Insider Activity

In other news, VP William Torgerson sold 6,100 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $15.40, for a total transaction of $93,940.00. Following the sale, the vice president now directly owns 179,262 shares of the company's stock, valued at $2,760,634.80. This represents a 3.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ted L. Tewksbury III sold 5,800 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $15.36, for a total transaction of $89,088.00. Following the completion of the transaction, the director now owns 69,717 shares in the company, valued at $1,070,853.12. This represents a 7.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,900 shares of company stock valued at $927,278 over the last three months. 8.60% of the stock is owned by insiders.

Hedge Funds Weigh In On MaxLinear

Several large investors have recently bought and sold shares of MXL. Vaughan Nelson Investment Management L.P. acquired a new position in MaxLinear in the third quarter valued at approximately $16,696,000. Assenagon Asset Management S.A. raised its holdings in MaxLinear by 339.9% in 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 purchasing an additional 966,468 shares during the period. Millennium Management LLC raised its holdings in MaxLinear by 307.9% in the second quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company's stock worth $21,039,000 after purchasing an additional 788,558 shares during the period. FMR LLC raised its holdings in MaxLinear by 184.5% in the third quarter. FMR LLC now owns 456,929 shares of the semiconductor company's stock worth $6,616,000 after purchasing an additional 296,339 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its holdings in MaxLinear by 36.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,089,065 shares of the semiconductor company's stock worth $15,770,000 after purchasing an additional 291,874 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.