MaxLinear (NASDAQ:MXL) Hits New 1-Year High – What’s Next?

MaxLinear, Inc (NASDAQ:MXL) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $106.28 and last traded at $100.26, with a volume of 1008394 shares traded. The stock had previously closed at $99.16.

Analyst Ratings Changes

Several brokerages have commented on MXL. Northland Securities set a $55.00 target price on shares of MaxLinear in a report on Friday, April 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxLinear in a research report on Tuesday, April 21st. Benchmark began coverage on shares of MaxLinear in a research report on Tuesday, May 12th. They set a “buy” rating and a $28.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $40.00 price target on shares of MaxLinear in a research report on Friday, April 24th. Finally, Roth Mkm raised shares of MaxLinear from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Friday, April 24th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, MaxLinear has an average rating of “Hold” and an average price target of $44.20.

MaxLinear Price Performance

The stock’s 50-day moving average is $46.14 and its 200-day moving average is $27.52. The firm has a market cap of $8.14 billion, a P/E ratio of -59.80 and a beta of 3.95. The company has a quick ratio of 1.12, a current ratio of 1.70 and a debt-to-equity ratio of 0.27.

MaxLinear (NASDAQ:MXL) last announced its earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. MaxLinear had a negative net margin of 25.96% and a negative return on equity of 2.33%. The business had revenue of $137.19 million for the quarter, compared to analyst estimates of $137.15 million. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. MaxLinear’s revenue was up 43.0% compared to the same quarter last year. As a group, equities analysts anticipate that MaxLinear, Inc will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling at MaxLinear

In other news, insider Steven G. Litchfield sold 20,000 shares of the business’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $15.68, for a total value of $313,600.00. Following the sale, the insider owned 343,435 shares in the company, valued at approximately $5,385,060.80. The trade was a 5.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Connie H. Kwong sold 35,000 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $96.96, for a total transaction of $3,393,600.00. Following the completion of the sale, the insider owned 13,947 shares in the company, valued at $1,352,301.12. This represents a 71.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 99,097 shares of company stock worth $5,150,815 in the last three months. Insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On MaxLinear

Institutional investors and hedge funds have recently made changes to their positions in the company. Larson Financial Group LLC boosted its stake in shares of MaxLinear by 161.7% in the 4th quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 875 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of MaxLinear by 103.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 726 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in MaxLinear during the 4th quarter worth about $25,000. International Assets Investment Management LLC acquired a new position in MaxLinear during the 4th quarter worth about $27,000. Finally, EverSource Wealth Advisors LLC lifted its position in MaxLinear by 16.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock worth $27,000 after buying an additional 217 shares in the last quarter. Institutional investors and hedge funds own 90.79% of the company’s stock.

MaxLinear Company Profile

MaxLinear, Inc is a provider of radio-frequency (RF), analog, and mixed-signal integrated circuits for broadband communications, data center connectivity, and video infrastructure applications. The company’s product portfolio includes high-performance RF front-end modules, broadband power amplifiers, optical and Ethernet transceivers, and network processors designed to support demanding signal processing requirements.

MaxLinear’s semiconductor solutions are used by cable and satellite television operators, fiber-to-the-home service providers, network equipment manufacturers, and data center operators.