MaxLinear (NASDAQ:MXL) Shares Up 4.5% – What’s Next?

MaxLinear, Inc (NASDAQ:MXL) shares shot up 4.5% on Friday. The stock traded as high as $89.36 and last traded at $89.1210. 381,177 shares were traded during trading, a decline of 88% from the average daily volume of 3,094,306 shares. The stock had previously closed at $85.31.

Wall Street Analysts Forecast Growth

MXL has been the topic of a number of recent analyst reports. Needham & Company LLC boosted their target price on MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Northland Securities set a $110.00 price target on MaxLinear in a research note on Wednesday, June 3rd. Stifel Nicolaus boosted their price objective on MaxLinear from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Wall Street Zen raised shares of MaxLinear from a “hold” rating to a “buy” rating in a research note on Sunday, July 26th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a research report on Friday, July 17th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $88.64.

MaxLinear Stock Performance

The firm has a 50 day moving average of $70.82 and a 200-day moving average of $65.93. The stock has a market capitalization of $8.67 billion, a PE ratio of -80.69 and a beta of 3.93. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.15 and a current ratio of 1.78.

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 the consensus estimate of $0.33 by $0.02. The company had revenue of $168.85 million for the quarter, compared to analysts’ expectations of $164.64 million. MaxLinear had a positive return on equity of 2.24% and a negative net margin of 18.24%.The business’s revenue for the quarter was up 55.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.02 EPS. Research analysts forecast that MaxLinear, Inc will post 0.78 earnings per share for the current year.

Insiders Place Their Bets

In other MaxLinear news, CEO Kishore Seendripu sold 351,454 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $85.95, for a total value of $30,207,471.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On MaxLinear

A number of hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its stake in shares of MaxLinear by 16.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 217 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in MaxLinear by 16.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,678 shares of the semiconductor company’s stock valued at $215,000 after purchasing an additional 232 shares during the period. Ameritas Advisory Services LLC bought a new stake in MaxLinear in the second quarter valued at approximately $32,000. GAMMA Investing LLC increased its stake in MaxLinear by 5.6% in the second quarter. GAMMA Investing LLC now owns 6,152 shares of the semiconductor company’s stock valued at $788,000 after purchasing an additional 326 shares in the last quarter. Finally, Carolina Wealth Advisors LLC acquired a new stake in MaxLinear in the second quarter worth $47,000. 90.79% of the stock is owned by institutional investors and hedge funds.

About MaxLinear

MaxLinear, Inc is a fabless semiconductor company that designs and develops high-performance analog and mixed-signal integrated circuits. Its products are used in broadband communications, wired and wireless infrastructure, data center, networking, and industrial applications.

The company’s portfolio includes solutions for broadband access and connectivity, including cable and fiber-optic infrastructure, Ethernet and high-speed interconnects, optical communications, power management, interface products, and embedded processors.