MaxLinear (NASDAQ:MXL) Hits New 52-Week High – What’s Next?

MaxLinear, Inc (NASDAQ:MXL) reached a new 52-week high on Monday . The stock traded as high as $103.90 and last traded at $97.7760, with a volume of 708640 shares. The stock had previously closed at $99.83.

Wall Street Analysts Forecast Growth

MXL has been the subject of several recent analyst reports. Susquehanna restated a “neutral” rating and set a $30.00 target price on shares of MaxLinear in a research note on Monday, April 20th. Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a research note on Tuesday, April 21st. Benchmark initiated coverage on MaxLinear in a research note on Tuesday. They set a “buy” rating and a $28.00 target price for the company. Loop Capital upgraded MaxLinear from a “hold” rating to a “buy” rating and upped their target price for the stock from $17.00 to $75.00 in a research note on Wednesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $40.00 target price on shares of MaxLinear in a research note on Friday, April 24th. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, MaxLinear presently has an average rating of “Hold” and a consensus target price of $44.20.

MaxLinear Stock Down 10.1%

The stock has a 50 day moving average price of $32.23 and a 200 day moving average price of $22.55. The stock has a market capitalization of $8.23 billion, a price-to-earnings ratio of -60.48 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 quarterly earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. MaxLinear had a negative return on equity of 2.33% and a negative net margin of 25.96%.The firm had revenue of $137.19 million for the quarter, compared to analyst estimates of $137.15 million. During the same period last year, the firm posted ($0.05) earnings per share. The business’s revenue for the quarter was up 43.0% on a year-over-year basis. As a group, analysts forecast that MaxLinear, Inc will post 0.52 EPS for the current year.

Insider Transactions at MaxLinear

In other news, insider Connie H. Kwong sold 35,000 shares of MaxLinear stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $96.96, for a total transaction of $3,393,600.00. Following the sale, the insider directly owned 13,947 shares of the company’s stock, valued at approximately $1,352,301.12. This trade represents a 71.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Steven G. Litchfield sold 20,000 shares of the firm’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $15.68, for a total value of $313,600.00. Following the transaction, the insider directly owned 343,435 shares of the company’s stock, valued at approximately $5,385,060.80. This represents a 5.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 99,097 shares of company stock worth $5,150,815 over the last three months. Insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MXL. Larson Financial Group LLC raised its position in MaxLinear by 161.7% during the 4th quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 875 shares during the last quarter. Smartleaf Asset Management LLC raised its position in MaxLinear by 103.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 726 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in MaxLinear during the 4th quarter worth $25,000. International Assets Investment Management LLC bought a new position in MaxLinear during the 4th quarter worth $27,000. Finally, EverSource Wealth Advisors LLC raised its position in MaxLinear by 97.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 1,039 shares during the last quarter. 90.79% of the stock is owned by institutional investors.

About MaxLinear

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.