MaxLinear (NYSE:MXL) Shares Up 6.8% - Here's Why

MaxLinear, Inc. (NYSE:MXL - Get Free Report)'s stock price shot up 6.8% during mid-day trading on Friday . The company traded as high as $14.33 and last traded at $14.33. 436,884 shares changed hands during trading, a decline of 52% from the average session volume of 911,084 shares. The stock had previously closed at $13.42.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MXL. Susquehanna downgraded MaxLinear from a "positive" rating to a "neutral" rating and decreased their price objective for the stock from $26.00 to $15.00 in a report on Tuesday, October 1st. Benchmark decreased their price target on MaxLinear from $28.00 to $22.00 and set a "buy" rating on the stock in a research note on Thursday, July 25th. Northland Securities dropped their price objective on MaxLinear from $30.00 to $25.00 and set an "outperform" rating for the company in a research note on Thursday, July 25th. Stifel Nicolaus raised their target price on shares of MaxLinear from $26.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, July 18th. Finally, Needham & Company LLC lowered shares of MaxLinear from a "buy" rating to a "hold" rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $23.44.

MaxLinear Stock Up 6.1 %

The company has a quick ratio of 1.59, a current ratio of 2.09 and a debt-to-equity ratio of 0.20. The company's fifty day moving average price is $13.30 and its 200-day moving average price is $17.55. The stock has a market capitalization of $1.19 billion, a PE ratio of -6.20 and a beta of 1.83.

MaxLinear (NYSE:MXL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.06). The company had revenue of $92.00 million for the quarter, compared to analysts' expectations of $100.25 million. MaxLinear had a negative net margin of 42.38% and a negative return on equity of 12.39%. The firm's quarterly revenue was down 50.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.19 EPS. Analysts forecast that MaxLinear, Inc. will post -1.74 earnings per share for the current year.

Insider Transactions at MaxLinear

In related news, CEO Kishore Seendripu bought 108,303 shares of the stock in a transaction on Tuesday, July 30th. The shares were acquired at an average price of $12.94 per share, for a total transaction of $1,401,440.82. Following the purchase, the chief executive officer now owns 531,937 shares of the company's stock, valued at approximately $6,883,264.78. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Headlands Technologies LLC purchased a new position in shares of MaxLinear during the 1st quarter worth $27,000. Innealta Capital LLC purchased a new position in MaxLinear during the second quarter valued at $30,000. International Assets Investment Management LLC purchased a new position in MaxLinear during the second quarter valued at $31,000. GAMMA Investing LLC grew its holdings in MaxLinear by 151.8% during the third quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company's stock valued at $50,000 after purchasing an additional 2,093 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new stake in MaxLinear in the second quarter worth about $56,000. 90.79% of the stock is owned by hedge funds and other institutional investors.

About MaxLinear

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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