MaxLinear (NASDAQ:MXL) Trading 22.6% Higher – Still a Buy?

MaxLinear, Inc. (NASDAQ:MXL)’s share price was up 22.6% during mid-day trading on Wednesday . The company traded as high as $11.37 and last traded at $11.22. Approximately 904,595 shares were traded during trading, a decline of 53% from the average daily volume of 1,912,997 shares. The stock had previously closed at $9.15.

Analyst Upgrades and Downgrades

MXL has been the subject of several analyst reports. Wells Fargo & Company boosted their target price on MaxLinear from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Northland Securities raised their target price on shares of MaxLinear from $25.00 to $27.50 and gave the company an “outperform” rating in a report on Monday, January 6th. Susquehanna lowered their price target on shares of MaxLinear from $25.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a research report on Thursday, January 30th. Finally, Benchmark reaffirmed a “buy” rating and set a $28.00 price objective on shares of MaxLinear in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $25.50.

MaxLinear Price Performance

The company has a market capitalization of $832.80 million, a price-to-earnings ratio of -3.36 and a beta of 1.82. The company has a current ratio of 1.77, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24. The company’s 50 day simple moving average is $13.60 and its 200-day simple moving average is $16.04.

MaxLinear (NASDAQ:MXL) last released its earnings results on Wednesday, January 29th. The semiconductor company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.14). MaxLinear had a negative return on equity of 21.94% and a negative net margin of 68.01%. On average, equities research analysts predict that MaxLinear, Inc. will post -0.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MaxLinear

Several large investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its stake in shares of MaxLinear by 339.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,250,769 shares of the semiconductor company’s stock worth $24,740,000 after purchasing an additional 966,468 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in MaxLinear by 44.6% in the third quarter. JPMorgan Chase & Co. now owns 935,739 shares of the semiconductor company’s stock worth $13,550,000 after purchasing an additional 288,607 shares during the period. FMR LLC grew its position in MaxLinear by 184.5% in the 3rd quarter. FMR LLC now owns 456,929 shares of the semiconductor company’s stock valued at $6,616,000 after buying an additional 296,339 shares in the last quarter. State Street Corp increased its stake in MaxLinear by 5.1% during the 3rd quarter. State Street Corp now owns 4,123,419 shares of the semiconductor company’s stock valued at $59,707,000 after buying an additional 198,791 shares during the period. Finally, Barclays PLC raised its position in shares of MaxLinear by 47.6% during the 3rd quarter. Barclays PLC now owns 335,804 shares of the semiconductor company’s stock worth $4,860,000 after buying an additional 108,346 shares in the last quarter. 90.79% of the stock is currently owned by institutional investors.

About MaxLinear

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.