MaxLinear (NASDAQ:MXL) Stock Price Up 7% – Here’s Why

Shares of MaxLinear, Inc (NASDAQ:MXL) were up 7% on Monday . The company traded as high as $77.86 and last traded at $76.8940. 523,750 shares traded hands during trading, a decline of 83% from the average session volume of 3,096,129 shares. The stock had previously closed at $71.84.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Susquehanna reaffirmed a “neutral” rating and issued a $30.00 target price on shares of MaxLinear in a research report on Monday, April 20th. Roth Capital upgraded shares of MaxLinear from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Friday, April 24th. Wall Street Zen cut shares of MaxLinear from a “buy” rating to a “hold” rating in a research note on Saturday. Needham & Company LLC raised shares of MaxLinear from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research report on Friday, April 24th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a research note on Tuesday, April 21st. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $71.00.

MaxLinear Price Performance

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.12 and a current ratio of 1.70. The firm has a market cap of $6.86 billion, a PE ratio of -50.37 and a beta of 3.91. The stock’s fifty day moving average price is $91.21 and its 200-day moving average price is $47.84.

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

Insider Activity at MaxLinear

In related news, insider Connie H. Kwong sold 35,000 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $96.96, for a total value of $3,393,600.00. Following the completion of the transaction, the insider owned 13,947 shares of the company’s stock, valued at approximately $1,352,301.12. The trade was a 71.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thomas E. Pardun sold 11,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $105.00, for a total transaction of $1,155,000.00. Following the completion of the transaction, the director directly owned 55,252 shares of the company’s stock, valued at approximately $5,801,460. This represents a 16.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 65,168 shares of company stock worth $5,559,358 over the last quarter. Company insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On MaxLinear

Large investors have recently added to or reduced their stakes in the business. Carolina Wealth Advisors LLC purchased a new position in shares of MaxLinear during the 2nd quarter worth about $47,000. CoreCap Advisors LLC acquired a new stake in MaxLinear in the 2nd quarter valued at $134,000. Larson Financial Group LLC increased its holdings in 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 raised its position in MaxLinear by 103.0% in the fourth 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 during the period. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in MaxLinear in the fourth quarter valued at about $25,000. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

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.