MaxLinear (NASDAQ:MXL) Shares Up 7.3% – Here’s What Happened

MaxLinear, Inc (NASDAQ:MXL) traded up 7.3% on Monday . The stock traded as high as $106.20 and last traded at $103.6890. Approximately 2,318,767 shares changed hands during trading, a decline of 24% from the average daily volume of 3,049,515 shares. The stock had previously closed at $96.60.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. 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 report on Friday, April 24th. Stifel Nicolaus increased their price target on MaxLinear from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Monday. Susquehanna reissued a “neutral” rating and issued a $30.00 price objective on shares of MaxLinear in a research report on Monday, April 20th. Benchmark started coverage on MaxLinear in a research note on Wednesday, May 27th. They issued a “buy” rating and a $125.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxLinear in a research note on Tuesday, April 21st. 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. Based on data from MarketBeat, MaxLinear currently has an average rating of “Hold” and an average target price of $65.50.

MaxLinear Price Performance

The company has a market capitalization of $9.54 billion, a price-to-earnings ratio of -70.31 and a beta of 3.98. The business has a 50-day moving average price of $79.69 and a two-hundred day moving average price of $39.82. The company has a quick ratio of 1.12, a current ratio of 1.70 and a debt-to-equity ratio of 0.27.

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

Insider Buying and Selling at MaxLinear

In related news, Director Thomas E. Pardun sold 11,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $105.00, for a total value of $1,155,000.00. Following the completion of the sale, the director directly owned 55,252 shares of the company’s stock, valued at approximately $5,801,460. This represents a 16.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Connie H. Kwong sold 35,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $96.96, for a total value of $3,393,600.00. Following the completion of the transaction, the insider owned 13,947 shares in the company, valued at $1,352,301.12. The trade was a 71.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 65,168 shares of company stock valued at $5,559,358 in the last quarter. 7.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MaxLinear

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Pure Financial Advisors LLC purchased a new position in MaxLinear in the fourth quarter valued at approximately $1,424,000. HighTower Advisors LLC grew its position in shares of MaxLinear by 1.7% in the fourth quarter. HighTower Advisors LLC now owns 656,319 shares of the semiconductor company’s stock valued at $11,440,000 after purchasing an additional 10,948 shares in the last quarter. Pictet Asset Management Holding SA purchased a new stake in MaxLinear during the 4th quarter worth about $190,000. Tudor Investment Corp ET AL boosted its stake in MaxLinear by 68.5% in the 3rd quarter. Tudor Investment Corp ET AL now owns 427,195 shares of the semiconductor company’s stock worth $6,869,000 after purchasing an additional 173,709 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of MaxLinear by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 13,326,387 shares of the semiconductor company’s stock worth $232,279,000 after buying an additional 605,903 shares in the last quarter. 90.79% of the stock is owned by hedge funds and other institutional investors.

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.