MaxLinear (NASDAQ:MXL) Shares Gap Up – Time to Buy?

MaxLinear, Inc (NASDAQ:MXL) gapped up prior to trading on Wednesday . The stock had previously closed at $91.93, but opened at $100.23. MaxLinear shares last traded at $94.3130, with a volume of 1,215,790 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have commented on MXL. Needham & Company LLC upgraded MaxLinear from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Friday, April 24th. Stifel Nicolaus upped their target price on MaxLinear from $34.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Wells Fargo & Company upped their target price on MaxLinear from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Friday, January 30th. Roth Mkm upgraded MaxLinear from a “neutral” rating to a “buy” rating and set a $60.00 target price 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 report on Tuesday, April 21st. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, MaxLinear presently has an average rating of “Hold” and an average price target of $44.20.

MaxLinear Trading Up 1.2%

The stock has a market capitalization of $7.95 billion, a PE ratio of -58.41 and a beta of 3.95. The firm has a 50 day moving average price of $35.05 and a 200 day moving average price of $23.56. 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 posted its earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $137.19 million during the quarter, compared to analyst estimates of $137.15 million. During the same quarter in the prior year, the business posted ($0.05) EPS. The business’s revenue was up 43.0% compared to the same quarter last year. Equities analysts expect that MaxLinear, Inc will post 0.52 EPS for the current fiscal year.

Insider Transactions at MaxLinear

In related news, insider Steven G. Litchfield sold 20,000 shares of MaxLinear stock in a transaction on Friday, March 6th. The stock was sold at an average price of $15.68, for a total transaction of $313,600.00. Following the sale, the insider directly owned 343,435 shares in the company, valued at approximately $5,385,060.80. This trade represents a 5.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Connie H. Kwong sold 35,000 shares of MaxLinear stock in a transaction on Friday, May 8th. The stock was sold at an average price of $96.96, for a total value of $3,393,600.00. Following the sale, the insider owned 13,947 shares in the company, valued at $1,352,301.12. This trade represents a 71.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 99,097 shares of company stock valued at $5,150,815 over the last ninety days. 7.70% of the stock is currently owned by insiders.

Institutional Trading of MaxLinear

A number of hedge funds have recently bought and sold shares of MXL. Royal Bank of Canada lifted its holdings in MaxLinear by 3.1% during the first quarter. Royal Bank of Canada now owns 72,664 shares of the semiconductor company’s stock worth $789,000 after acquiring an additional 2,204 shares during the period. AQR Capital Management LLC lifted its holdings in MaxLinear by 56.0% during the first quarter. AQR Capital Management LLC now owns 296,297 shares of the semiconductor company’s stock worth $3,218,000 after acquiring an additional 106,355 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in MaxLinear by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,437 shares of the semiconductor company’s stock worth $515,000 after acquiring an additional 2,043 shares during the period. Goldman Sachs Group Inc. lifted its holdings in MaxLinear by 0.4% during the first quarter. Goldman Sachs Group Inc. now owns 535,230 shares of the semiconductor company’s stock worth $5,813,000 after acquiring an additional 2,039 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in MaxLinear by 23.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 182,362 shares of the semiconductor company’s stock worth $1,980,000 after acquiring an additional 35,152 shares during the period. 90.79% of the stock is currently owned by 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.