MaxLinear (NASDAQ:MXL) Stock Price Up 6.1% – Time to Buy?

MaxLinear, Inc (NASDAQ:MXL) shares shot up 6.1% on Wednesday . The company traded as high as $70.31 and last traded at $70.5860. 860,805 shares traded hands during trading, a decline of 72% from the average session volume of 3,095,211 shares. The stock had previously closed at $66.50.

Analyst Ratings Changes

MXL has been the topic of several analyst reports. Benchmark started coverage on shares of MaxLinear in a report on Wednesday, May 27th. They set a “buy” rating and a $125.00 price target on the stock. Stifel Nicolaus lifted their target price on shares of MaxLinear from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Wall Street Zen upgraded MaxLinear from a “hold” rating to a “buy” rating in a research note on Sunday, July 26th. Roth Capital upped their target price on MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a report on Friday, July 24th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxLinear in a research report on Friday, July 17th. Five equities 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 company. According to MarketBeat.com, MaxLinear has an average rating of “Hold” and an average target price of $85.00.

MaxLinear Price Performance

The business’s fifty day moving average is $74.47 and its 200-day moving average is $60.97. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.15. The firm has a market cap of $6.36 billion, a PE ratio of -58.64 and a beta of 3.93.

MaxLinear (NASDAQ:MXL) last released its earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. MaxLinear had a negative net margin of 18.24% and a positive return on equity of 2.24%. The firm had revenue of $168.85 million for the quarter, compared to analysts’ expectations of $164.64 million. During the same period in the previous year, the company earned $0.02 earnings per share. The company’s quarterly revenue was up 55.2% on a year-over-year basis. On average, research analysts predict that MaxLinear, Inc will post 0.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other MaxLinear news, CEO Kishore Seendripu sold 351,454 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $85.95, for a total transaction of $30,207,471.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Larson Financial Group LLC increased its position in shares of MaxLinear by 161.7% during the fourth quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 875 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of MaxLinear by 103.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock worth $25,000 after buying an additional 726 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new position in MaxLinear in the 4th quarter worth approximately $25,000. International Assets Investment Management LLC bought a new stake in MaxLinear in the fourth quarter valued at approximately $27,000. Finally, EverSource Wealth Advisors LLC lifted its position in MaxLinear by 16.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 217 shares during the last quarter. 90.79% of the stock is currently owned by hedge funds and other 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.