MaxLinear (NASDAQ:MXL) Trading 5.3% Higher – What’s Next?

MaxLinear, Inc. (NASDAQ:MXL)’s stock price was up 5.3% during mid-day trading on Wednesday . The company traded as high as $20.64 and last traded at $20.58. Approximately 377,115 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 1,040,636 shares. The stock had previously closed at $19.55.

Wall Street Analysts Forecast Growth

MXL has been the topic of several recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. Benchmark lifted their price target on shares of MaxLinear from $22.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Wells Fargo & Company began coverage on shares of MaxLinear in a research report on Friday, November 22nd. They set an “equal weight” rating and a $14.00 price objective on the stock. Craig Hallum decreased their target price on MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Finally, Susquehanna lowered MaxLinear from a “positive” rating to a “neutral” rating and cut their price target for the stock from $26.00 to $15.00 in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $23.14.

MaxLinear Trading Down 0.8 %

The company has a quick ratio of 1.38, a current ratio of 1.95 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average price of $15.64 and a 200 day moving average price of $16.09. The stock has a market capitalization of $1.64 billion, a PE ratio of -7.13 and a beta of 1.87.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.04). MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. The company had revenue of $81.10 million for the quarter, compared to the consensus estimate of $80.40 million. During the same quarter last year, the business posted ($0.02) earnings per share. MaxLinear’s revenue was down 40.2% on a year-over-year basis. Equities analysts expect that MaxLinear, Inc. will post -1.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Steven G. Litchfield sold 32,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $20.35, for a total value of $651,200.00. Following the sale, the insider now owns 365,868 shares of the company’s stock, valued at $7,445,413.80. The trade was a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP William Torgerson sold 6,100 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $15.40, for a total transaction of $93,940.00. Following the completion of the transaction, the vice president now directly owns 179,262 shares of the company’s stock, valued at approximately $2,760,634.80. This trade represents a 3.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,900 shares of company stock valued at $927,278 in the last 90 days. 8.60% of the stock is currently owned by corporate insiders.

Institutional Trading of MaxLinear

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC raised its stake in MaxLinear by 39.5% in the second quarter. SG Americas Securities LLC now owns 12,184 shares of the semiconductor company’s stock valued at $245,000 after purchasing an additional 3,453 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of MaxLinear by 3.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 38,000 shares of the semiconductor company’s stock worth $765,000 after acquiring an additional 1,100 shares during the last quarter. Bank of New York Mellon Corp grew its position in MaxLinear by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 2,535,449 shares of the semiconductor company’s stock worth $51,064,000 after acquiring an additional 128,585 shares in the last quarter. Panagora Asset Management Inc. increased its stake in MaxLinear by 229.5% in the second quarter. Panagora Asset Management Inc. now owns 210,700 shares of the semiconductor company’s stock valued at $4,243,000 after acquiring an additional 146,754 shares during the last quarter. Finally, Innealta Capital LLC purchased a new stake in MaxLinear during the second quarter valued at about $30,000. 90.79% of the stock is currently owned by institutional investors.

About MaxLinear

MaxLinear, Inc provides communications systems-on-chip solutions worldwide. Its products integrate various portions of a high-speed communication system, including radio frequency, high-performance analog, mixed-signal, digital signal processing, security engines, data compression and networking layers, and power management.