MaxLinear (NASDAQ:MXL) Sees Strong Trading Volume – Time to Buy?

Shares of MaxLinear, Inc (NASDAQ:MXL) saw unusually-strong trading volume on Monday . Approximately 1,349,469 shares were traded during trading, a decline of 42% from the previous session’s volume of 2,319,707 shares.The stock last traded at $80.3310 and had previously closed at $77.18.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MXL. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $40.00 price objective on shares of MaxLinear in a research note on Friday, April 24th. Needham & Company LLC upgraded shares of MaxLinear from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Friday, April 24th. Stifel Nicolaus raised their price target on shares of MaxLinear from $34.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Benchmark raised their price objective on shares of MaxLinear from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Finally, Wells Fargo & Company raised their price objective on shares of MaxLinear from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Friday, January 30th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $44.20.

MaxLinear Stock Up 0.9%

The company has a quick ratio of 1.12, a current ratio of 1.70 and a debt-to-equity ratio of 0.27. The firm has a market cap of $6.98 billion, a price-to-earnings ratio of -51.37 and a beta of 3.95. The stock’s 50 day moving average is $23.62 and its 200 day moving average is $19.49.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings data on Thursday, April 23rd. The semiconductor company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. The business had revenue of $137.19 million for the quarter, compared to analyst estimates of $137.15 million. MaxLinear had a negative net margin of 25.96% and a negative return on equity of 2.33%. The business’s revenue for the quarter was up 43.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.05) earnings per share. Analysts forecast that MaxLinear, Inc will post 0.52 EPS for the current year.

Insider Buying and Selling

In related news, insider Steven G. Litchfield sold 20,000 shares of the firm’s stock in a transaction that occurred 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 completion of 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 filing with the SEC, which is available at the SEC website. Also, insider Connie H. Kwong sold 4,118 shares of the firm’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $58.00, for a total transaction of $238,844.00. Following the sale, the insider owned 48,947 shares of the company’s stock, valued at $2,838,926. The trade was a 7.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 64,097 shares of company stock valued at $1,757,215 over the last 90 days. 7.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MaxLinear

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its stake in shares of MaxLinear by 161.7% during the 4th 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 boosted its stake in shares of MaxLinear by 103.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 726 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of MaxLinear during the 4th quarter valued at $25,000. International Assets Investment Management LLC acquired a new stake in shares of MaxLinear during the 4th quarter valued at $27,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of MaxLinear by 97.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 1,039 shares during the period. Institutional investors and hedge funds own 90.79% of the company’s stock.

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.