MaxLinear (NASDAQ:MXL) Shares Gap Up – Still a Buy?

Shares of MaxLinear, Inc. (NASDAQ:MXL) gapped up prior to trading on Wednesday . The stock had previously closed at $17.40, but opened at $18.63. MaxLinear shares last traded at $19.80, with a volume of 986,954 shares.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MXL shares. Wells Fargo & Company initiated coverage on MaxLinear in a research note on Friday, November 22nd. They set an “equal weight” rating and a $14.00 target price for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a report on Thursday, October 24th. Susquehanna downgraded MaxLinear from a “positive” rating to a “neutral” rating and lowered their price target for the company from $26.00 to $15.00 in a report on Tuesday, October 1st. Craig Hallum reduced their price objective on MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Finally, Benchmark reiterated a “buy” rating and set a $22.00 price target on shares of MaxLinear in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $22.29.

MaxLinear Stock Up 7.8 %

The stock has a market capitalization of $1.58 billion, a P/E ratio of -6.93 and a beta of 1.87. The stock’s fifty day moving average is $14.56 and its two-hundred day moving average is $16.03. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.95 and a quick ratio of 1.38.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.04). The company had revenue of $81.10 million for the quarter, compared to the consensus estimate of $80.40 million. MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%. The business’s revenue was down 40.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.02) earnings per share. As a group, research analysts predict that MaxLinear, Inc. will post -1.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ted L. Tewksbury III sold 5,800 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $15.36, for a total value of $89,088.00. Following the completion of the sale, the director now directly owns 69,717 shares of the company’s stock, valued at $1,070,853.12. This represents a 7.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP William Torgerson sold 6,100 shares of MaxLinear stock in a transaction on Friday, November 8th. The shares were sold at an average price of $15.40, for a total transaction of $93,940.00. Following the sale, the vice president now directly owns 179,262 shares of the company’s stock, valued at $2,760,634.80. This trade represents a 3.29 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On MaxLinear

Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp increased its stake in shares of MaxLinear by 5.1% in the third quarter. State Street Corp now owns 4,123,419 shares of the semiconductor company’s stock worth $59,707,000 after purchasing an additional 198,791 shares during the period. Bank of New York Mellon Corp lifted its position in MaxLinear by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 2,535,449 shares of the semiconductor company’s stock worth $51,064,000 after purchasing an additional 128,585 shares during the period. Dimensional Fund Advisors LP boosted its stake in MaxLinear by 10.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,071,183 shares of the semiconductor company’s stock worth $41,714,000 after buying an additional 192,021 shares in the last quarter. Geode Capital Management LLC increased its holdings in MaxLinear by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,805,722 shares of the semiconductor company’s stock valued at $26,152,000 after buying an additional 6,420 shares during the period. Finally, Hood River Capital Management LLC bought a new stake in MaxLinear in the 2nd quarter valued at $24,184,000. Institutional investors and hedge funds 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.