MaxLinear (NASDAQ:MXL) Sees Strong Trading Volume – Should You Buy?

Shares of MaxLinear, Inc (NASDAQ:MXL) saw unusually-high trading volume on Monday . Approximately 1,406,088 shares changed hands during mid-day trading, an increase of 20% from the previous session’s volume of 1,175,896 shares.The stock last traded at $30.2470 and had previously closed at $26.27.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a report on Thursday, January 22nd. Benchmark lifted their target price on MaxLinear from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Wells Fargo & Company boosted their target price on MaxLinear from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Friday, January 30th. Finally, Susquehanna restated a “neutral” rating and issued a $30.00 price target on shares of MaxLinear in a report on Monday. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $21.71.

MaxLinear Trading Up 24.3%

The business’s 50-day moving average is $18.34 and its 200 day moving average is $17.43. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.34 and a quick ratio of 0.92. The firm has a market capitalization of $2.82 billion, a P/E ratio of -20.58 and a beta of 1.70.

MaxLinear (NASDAQ:MXL) last issued its earnings results on Thursday, January 29th. The semiconductor company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. MaxLinear had a negative net margin of 29.23% and a negative return on equity of 6.95%. The firm had revenue of $136.44 million for the quarter, compared to analyst estimates of $134.82 million. During the same quarter last year, the business posted ($0.09) earnings per share. The company’s quarterly revenue was up 48.0% on a year-over-year basis. As a group, analysts anticipate that MaxLinear, Inc will post -0.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other MaxLinear news, insider Steven G. Litchfield sold 20,000 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $17.50, for a total value of $350,000.00. Following the completion of the sale, the insider directly owned 368,364 shares of the company’s stock, valued at $6,446,370. This trade represents a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 44,929 shares of company stock valued at $746,456 in the last 90 days. 7.70% of the stock is owned by insiders.

Institutional Investors Weigh In On MaxLinear

Hedge funds and other institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC boosted 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 during the period. 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. bought a new position in shares of MaxLinear during the fourth quarter valued at about $25,000. International Assets Investment Management LLC purchased a new stake in MaxLinear during the 4th quarter valued at about $27,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in MaxLinear by 97.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 1,039 shares during the period. 90.79% of the stock is currently 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.