Shares of MaxLinear, Inc. (NYSE:MXL - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $14.87, but opened at $17.00. MaxLinear shares last traded at $15.68, with a volume of 844,700 shares traded.
Analyst Upgrades and Downgrades
MXL has been the topic of a number of research reports. Benchmark reissued a "buy" rating and issued a $22.00 price objective on shares of MaxLinear in a research report on Thursday. Craig Hallum cut their price target on shares of MaxLinear from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Thursday. Northland Securities decreased their price objective on MaxLinear from $30.00 to $25.00 and set an "outperform" rating for the company in a report on Thursday, July 25th. Needham & Company LLC reiterated a "hold" rating on shares of MaxLinear in a report on Thursday. Finally, Susquehanna downgraded MaxLinear from a "positive" rating to a "neutral" rating and decreased their price target for the company from $26.00 to $15.00 in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, MaxLinear currently has a consensus rating of "Hold" and an average target price of $23.13.
View Our Latest Analysis on MaxLinear
MaxLinear Trading Up 1.5 %
The company has a current ratio of 2.09, a quick ratio of 1.59 and a debt-to-equity ratio of 0.20. The business has a 50 day moving average of $13.77 and a two-hundred day moving average of $17.19. The firm has a market cap of $1.25 billion, a P/E ratio of -8.10 and a beta of 1.83.
MaxLinear (NYSE:MXL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.06). The company had revenue of $92.00 million during the quarter, compared to the consensus estimate of $100.25 million. MaxLinear had a negative net margin of 42.38% and a negative return on equity of 12.39%. MaxLinear's revenue for the quarter was down 50.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.19 earnings per share. Analysts predict that MaxLinear, Inc. will post -1.74 earnings per share for the current year.
Insider Buying and Selling at MaxLinear
In other news, CEO Kishore Seendripu bought 108,303 shares of the firm's stock in a transaction dated Tuesday, July 30th. The shares were bought at an average price of $12.94 per share, with a total value of $1,401,440.82. Following the completion of the transaction, the chief executive officer now owns 531,937 shares of the company's stock, valued at $6,883,264.78. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 8.60% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MXL. Vanguard Group Inc. lifted its holdings in shares of MaxLinear by 8.5% during the fourth quarter. Vanguard Group Inc. now owns 11,586,273 shares of the semiconductor company's stock worth $275,406,000 after buying an additional 903,235 shares in the last quarter. BNP Paribas Financial Markets raised its stake in MaxLinear by 58.0% in the 1st quarter. BNP Paribas Financial Markets now owns 265,567 shares of the semiconductor company's stock worth $4,958,000 after purchasing an additional 97,447 shares in the last quarter. Capstone Investment Advisors LLC raised its stake in MaxLinear by 42.7% in the 1st quarter. Capstone Investment Advisors LLC now owns 17,899 shares of the semiconductor company's stock worth $334,000 after purchasing an additional 5,353 shares in the last quarter. Jennison Associates LLC boosted its holdings in MaxLinear by 2.7% in the 1st quarter. Jennison Associates LLC now owns 533,416 shares of the semiconductor company's stock valued at $9,959,000 after purchasing an additional 14,111 shares during the period. Finally, Texas Permanent School Fund Corp grew its position in shares of MaxLinear by 2.2% during the 1st quarter. Texas Permanent School Fund Corp now owns 65,248 shares of the semiconductor company's stock worth $1,218,000 after purchasing an additional 1,375 shares in the last quarter. 90.79% of the stock is owned by institutional investors and hedge funds.
MaxLinear Company Profile
(
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.
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