MaxLinear (NASDAQ:MXL) Shares Gap Up – Still a Buy?

MaxLinear, Inc (NASDAQ:MXL)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $62.78, but opened at $66.62. MaxLinear shares last traded at $65.6270, with a volume of 339,553 shares traded.

Analyst Ratings Changes

MXL has been the topic of a number of research reports. Needham & Company LLC boosted their target price on shares of MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MaxLinear in a report on Friday, July 17th. Benchmark initiated coverage on shares of MaxLinear in a research note on Wednesday, May 27th. They issued a “buy” rating and a $125.00 price objective on the stock. Loop Capital upgraded MaxLinear from a “hold” rating to a “buy” rating and increased their price objective for the company from $17.00 to $75.00 in a report on Wednesday, April 29th. Finally, Susquehanna increased their price objective on MaxLinear from $45.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, MaxLinear has a consensus rating of “Hold” and an average price target of $85.00.

MaxLinear Price Performance

The company has a fifty day moving average of $81.65 and a 200 day moving average of $57.61. The firm has a market capitalization of $5.95 billion, a P/E ratio of -55.18 and a beta of 3.96. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.15.

MaxLinear (NASDAQ:MXL) last released its earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. MaxLinear had a negative net margin of 18.24% and a positive return on equity of 2.24%. The business had revenue of $168.85 million during the quarter, compared to the consensus estimate of $164.64 million. During the same quarter in the prior year, the firm posted $0.02 EPS. The company’s revenue for the quarter was up 55.2% compared to the same quarter last year. Sell-side analysts predict that MaxLinear, Inc will post 0.78 earnings per share for the current year.

Insider Buying and Selling at MaxLinear

In other news, CEO Kishore Seendripu sold 351,454 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $85.95, for a total transaction of $30,207,471.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.70% of the stock is currently owned by company insiders.

Institutional Trading of MaxLinear

Institutional investors have recently bought and sold shares of the company. Ameritas Advisory Services LLC bought a new position in shares of MaxLinear in the 2nd quarter worth about $32,000. Carolina Wealth Advisors LLC bought a new stake in shares of MaxLinear during the 2nd quarter valued at about $47,000. Global Retirement Partners LLC bought a new stake in shares of MaxLinear during the 2nd quarter valued at about $56,000. State of Wyoming acquired a new stake in MaxLinear during the second quarter worth approximately $126,000. Finally, CoreCap Advisors LLC acquired a new stake in MaxLinear during the second quarter worth approximately $134,000. Institutional investors own 90.79% of the company’s stock.

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.