MaxLinear (NASDAQ:MXL) Stock Price Up 7.1% – Still a Buy?

Shares of MaxLinear, Inc. (NASDAQ:MXL) rose 7.1% on Wednesday . The stock traded as high as $19.28 and last traded at $19.27. Approximately 517,918 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 1,029,397 shares. The stock had previously closed at $18.00.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wells Fargo & Company began coverage on shares of MaxLinear in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $14.00 price target on the stock. Craig Hallum reduced their price target on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Benchmark upped their price objective on shares of MaxLinear from $22.00 to $28.00 and gave the company a “buy” rating in a research report on Monday. Needham & Company LLC reiterated a “hold” rating on shares of MaxLinear in a report on Thursday, October 24th. Finally, Susquehanna downgraded MaxLinear from a “positive” rating to a “neutral” rating and lowered their price target for the stock from $26.00 to $15.00 in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $23.14.

MaxLinear Stock Up 5.6 %

The company has a current ratio of 1.95, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $1.74 billion, a P/E ratio of -7.86 and a beta of 1.87. The firm’s 50 day moving average price is $15.23 and its two-hundred day moving average price is $16.08.

MaxLinear (NASDAQ:MXL) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $81.10 million during the quarter, compared to the consensus estimate of $80.40 million. During the same period last year, the business posted ($0.02) EPS. The firm’s revenue for the quarter was down 40.2% on a year-over-year basis. Equities research analysts forecast that MaxLinear, Inc. will post -1.66 EPS for the current year.

Insider Buying and Selling

In other MaxLinear news, VP William Torgerson sold 6,100 shares of the business’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 transaction, the vice president now owns 179,262 shares of the company’s stock, valued at $2,760,634.80. The trade was a 3.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Connie H. Kwong sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $18.61, for a total value of $93,050.00. Following the completion of the sale, the insider now directly owns 49,147 shares of the company’s stock, valued at approximately $914,625.67. The trade was a 9.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,900 shares of company stock worth $276,078. Corporate insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC increased its holdings in shares of 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 during the last quarter. Louisiana State Employees Retirement System raised its holdings in MaxLinear by 3.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 38,000 shares of the semiconductor company’s stock valued at $765,000 after acquiring an additional 1,100 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of MaxLinear by 5.3% during 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 during the period. Panagora Asset Management Inc. boosted its holdings in shares of MaxLinear by 229.5% during the second quarter. Panagora Asset Management Inc. now owns 210,700 shares of the semiconductor company’s stock worth $4,243,000 after acquiring an additional 146,754 shares during the period. Finally, Innealta Capital LLC acquired a new position in shares of MaxLinear in the second quarter valued at approximately $30,000. 90.79% of the stock is owned by institutional investors and hedge funds.

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.