MaxLinear (NASDAQ:MXL) Stock Price Up 10.4% – Should You Buy?

Shares of MaxLinear, Inc (NASDAQ:MXL) shot up 10.4% during mid-day trading on Friday . The company traded as high as $25.66 and last traded at $25.78. 1,223,130 shares traded hands during mid-day trading, an increase of 7% from the average session volume of 1,138,617 shares. The stock had previously closed at $23.35.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a research report on Thursday, January 22nd. Wells Fargo & Company lifted their price target on shares of MaxLinear from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Friday, January 30th. Finally, Benchmark lifted their price target on shares of MaxLinear from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.57.

MaxLinear Trading Up 12.5%

The business’s 50-day moving average price is $18.18 and its two-hundred day moving average price is $17.35. The company has a market capitalization of $2.27 billion, a P/E ratio of -16.63 and a beta of 1.70. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.34 and a quick ratio of 0.92.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings results on Thursday, January 29th. The semiconductor company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The company had revenue of $136.44 million for the quarter, compared to analysts’ expectations of $134.82 million. MaxLinear had a negative net margin of 29.23% and a negative return on equity of 6.95%. The business’s quarterly revenue was up 48.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.09) earnings per share. As a group, analysts forecast that MaxLinear, Inc will post -0.37 EPS for the current fiscal year.

Insider Activity at MaxLinear

In related news, insider Steven G. Litchfield sold 20,000 shares of the firm’s stock in a transaction on Friday, March 6th. The shares were 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 $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 is available at this hyperlink. Insiders have sold 44,929 shares of company stock worth $746,456 in the last quarter. Company insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On MaxLinear

A number of hedge funds and other institutional investors have recently made changes to their positions in MXL. Royal Bank of Canada raised its holdings in shares of 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 raised its holdings in shares of 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. raised its holdings in shares of 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. raised its holdings in shares of 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 raised its holdings in shares of 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 and hedge funds.

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.