MaxLinear (NASDAQ:MXL) Stock Price Up 8.2% – Here’s Why

MaxLinear, Inc. (NASDAQ:MXL) was up 8.2% during trading on Wednesday . The stock traded as high as $22.40 and last traded at $22.40. Approximately 690,672 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 1,248,241 shares. The stock had previously closed at $20.70.

Analyst Upgrades and Downgrades

MXL has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of MaxLinear in a report on Thursday, October 24th. Northland Securities upped their target price on shares of MaxLinear from $25.00 to $27.50 and gave the company an “outperform” rating in a research note on Monday, January 6th. Benchmark raised their price target on shares of MaxLinear from $22.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Wells Fargo & Company upped their price objective on shares of MaxLinear from $14.00 to $19.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, Susquehanna cut shares of MaxLinear from a “positive” rating to a “neutral” rating and reduced their target price for the company from $26.00 to $15.00 in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $24.21.

MaxLinear Stock Up 9.1 %

The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of -8.30 and a beta of 1.79. The business has a fifty day simple moving average of $18.05 and a two-hundred day simple moving average of $16.33. The company has a quick ratio of 1.38, a current ratio of 1.95 and a debt-to-equity ratio of 0.22.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.04). The company had revenue of $81.10 million during the quarter, compared to analyst estimates of $80.40 million. MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. MaxLinear’s quarterly revenue was down 40.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.02) EPS. Equities analysts expect that MaxLinear, Inc. will post -1.66 EPS for the current year.

Insiders Place Their Bets

In related news, Director Ted L. Tewksbury III sold 5,800 shares of the business’s 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 transaction, the director now owns 69,717 shares in the company, valued at $1,070,853.12. The trade was a 7.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Connie H. Kwong sold 5,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $18.61, for a total value of $93,050.00. Following the transaction, the insider now directly owns 49,147 shares in the company, valued at approximately $914,625.67. This represents a 9.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,900 shares of company stock valued at $927,278. 8.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MXL. Assenagon Asset Management S.A. lifted its holdings in 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 valued at $24,740,000 after buying an additional 966,468 shares during the period. Weybosset Research & Management LLC lifted its stake in shares of MaxLinear by 34.1% in the 4th quarter. Weybosset Research & Management LLC now owns 92,731 shares of the semiconductor company’s stock valued at $1,834,000 after purchasing an additional 23,576 shares during the period. GAMMA Investing LLC boosted its position in shares of MaxLinear by 19.1% in the 4th quarter. GAMMA Investing LLC now owns 4,134 shares of the semiconductor company’s stock worth $82,000 after purchasing an additional 662 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of MaxLinear by 44.6% during 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. Finally, Geode Capital Management LLC increased its holdings in MaxLinear by 0.4% in the third quarter. Geode Capital Management LLC now owns 1,805,722 shares of the semiconductor company’s stock valued at $26,152,000 after purchasing an additional 6,420 shares during the last quarter. Institutional investors 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.