MaxLinear (NYSE:MXL) Sees Strong Trading Volume

MaxLinear, Inc. (NYSE:MXL - Get Free Report) shares saw strong trading volume on Thursday . 775,600 shares traded hands during mid-day trading, a decline of 10% from the previous session's volume of 865,421 shares.The stock last traded at $12.82 and had previously closed at $11.93.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MXL shares. Craig Hallum decreased their price target on shares of MaxLinear from $38.00 to $28.00 and set a "hold" rating on the stock in a research note on Thursday, July 25th. Northland Securities lowered their target price on MaxLinear from $30.00 to $25.00 and set an "outperform" rating on the stock in a report on Thursday, July 25th. Stifel Nicolaus increased their price target on MaxLinear from $26.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, July 18th. Benchmark reduced their price objective on MaxLinear from $28.00 to $22.00 and set a "buy" rating on the stock in a research report on Thursday, July 25th. Finally, Needham & Company LLC cut MaxLinear from a "buy" rating to a "hold" rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, MaxLinear currently has an average rating of "Hold" and an average price target of $24.67.

MaxLinear Trading Up 15.6 %

The firm has a market cap of $1.15 billion, a price-to-earnings ratio of -7.30 and a beta of 1.85. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.59 and a current ratio of 2.09. The company has a 50 day moving average price of $17.18 and a 200 day moving average price of $18.62.

MaxLinear (NYSE:MXL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported ($0.25) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.06). MaxLinear had a negative net margin of 42.38% and a negative return on equity of 12.39%. The company had revenue of $92.00 million for the quarter, compared to analyst estimates of $100.25 million. During the same quarter in the prior year, the business earned $0.19 earnings per share. MaxLinear's revenue was down 50.0% on a year-over-year basis. On average, research analysts expect that MaxLinear, Inc. will post -1.6 earnings per share for the current year.

Insider Transactions at MaxLinear

In other news, CEO Kishore Seendripu bought 108,303 shares of the firm's stock in a transaction that occurred on Tuesday, July 30th. The shares were purchased at an average price of $12.94 per share, with a total value of $1,401,440.82. Following the purchase, the chief executive officer now owns 531,937 shares in the company, valued at $6,883,264.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 8.60% of the company's stock.

Hedge Funds Weigh In On MaxLinear

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MXL. Point72 Asset Management L.P. raised its stake in shares of MaxLinear by 405.1% in the second quarter. Point72 Asset Management L.P. now owns 174,764 shares of the semiconductor company's stock valued at $3,520,000 after acquiring an additional 140,164 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of MaxLinear by 8.1% during the second quarter. The Manufacturers Life Insurance Company now owns 40,651 shares of the semiconductor company's stock worth $819,000 after buying an additional 3,052 shares in the last quarter. Millennium Management LLC increased its stake in shares of MaxLinear by 307.9% during the second quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company's stock worth $21,039,000 after buying an additional 788,558 shares during the period. AQR Capital Management LLC acquired a new stake in MaxLinear in the second quarter valued at approximately $870,000. Finally, Marshall Wace LLP lifted its stake in MaxLinear by 58.4% in the second quarter. Marshall Wace LLP now owns 193,883 shares of the semiconductor company's stock worth $3,905,000 after acquiring an additional 71,512 shares during the last quarter. Hedge funds and other institutional investors own 90.79% of the company's stock.

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.