MaxLinear (NASDAQ:MXL) Stock Jumps 13.6% – What’s Next?

MaxLinear, Inc (NASDAQ:MXL)’s share price rose 13.6% during trading on Monday. The company traded as high as $55.30 and last traded at $55.8780. 730,976 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 3,172,709 shares. The stock had previously closed at $49.18.

Analyst Upgrades and Downgrades

MXL has been the topic of several research analyst reports. Susquehanna set a $70.00 price objective on MaxLinear in a research note on Friday, October 23rd. Morgan Stanley set a $125.00 target price on shares of MaxLinear in a research report on Monday, September 14th. Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a report on Thursday, October 15th. Zacks Research upgraded shares of MaxLinear from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 28th. Finally, Stifel Nicolaus lifted their price target on shares of MaxLinear from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $94.30.

MaxLinear Trading Down 3.7%

The stock has a market capitalization of $4.90 billion, a PE ratio of 88.75 and a beta of 3.97. The company has a current ratio of 2.22, a quick ratio of 1.57 and a debt-to-equity ratio of 0.31. The business’s 50-day moving average is $76.02 and its two-hundred day moving average is $60.62.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings data on Thursday, October 22nd. The semiconductor company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.56 by $0.06. The company had revenue of $218.06 million for the quarter, compared to analyst estimates of $214.95 million. MaxLinear had a positive return on equity of 12.89% and a negative net margin of 4.45%. The firm’s revenue was up 72.4% compared to the same quarter last year. During the same period last year, the company posted $0.14 earnings per share. On average, analysts predict that MaxLinear, Inc will post 1.10 earnings per share for the current year.

Insider Activity

In related news, CEO Kishore Seendripu sold 351,454 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $85.95, for a total transaction of $30,207,471.30. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On MaxLinear

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its stake in shares of MaxLinear by 16.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 217 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of MaxLinear during the second quarter worth $32,000. KBC Group NV purchased a new position in shares of MaxLinear in the first quarter valued at $35,000. Reyes Financial Architecture Inc. purchased a new position in shares of MaxLinear in the third quarter valued at $44,000. Finally, Carolina Wealth Advisors LLC purchased a new position in shares of MaxLinear in the second quarter valued at $47,000. Hedge funds and other institutional investors own 90.79% of the company’s stock.

About MaxLinear

MaxLinear, Inc. is a fabless semiconductor company that designs radio-frequency, analog and mixed-signal components, as well as system-on-chip products. Its technologies are used to move and process data in broadband, wireless, wired-networking and infrastructure applications. The company’s products support equipment such as broadband access devices, Wi-Fi systems, Ethernet and optical networking equipment, and wireless infrastructure. MaxLinear sells to customers around the world, including communications equipment manufacturers and other technology companies.