MaxLinear (NASDAQ:MXL) Stock Price Up 5.8% – Here’s Why

MaxLinear, Inc. (NASDAQ:MXL) shares traded up 5.8% during mid-day trading on Tuesday . The company traded as high as $19.80 and last traded at $20.14. 338,386 shares traded hands during trading, a decline of 79% from the average session volume of 1,607,933 shares. The stock had previously closed at $19.04.

Wall Street Analysts Forecast Growth

MXL has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price target on MaxLinear from $14.00 to $19.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Needham & Company LLC reiterated a “hold” rating on shares of MaxLinear in a research report on Thursday. Craig Hallum dropped their price objective on MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Susquehanna boosted their price objective on MaxLinear from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Finally, Benchmark raised their target price 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. One investment 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. Based on data from MarketBeat.com, MaxLinear has an average rating of “Hold” and an average target price of $25.64.

MaxLinear Stock Up 6.4 %

The company has a market cap of $1.84 billion, a P/E ratio of -8.01 and a beta of 1.79. The stock has a 50-day moving average of $19.77 and a two-hundred day moving average of $16.43. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.95.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.14). MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. On average, research analysts anticipate that MaxLinear, Inc. will post -1.66 EPS for the current fiscal year.

Insider Activity

In related news, VP William Torgerson sold 6,100 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $15.40, for a total value of $93,940.00. Following the completion of the transaction, the vice president now directly owns 179,262 shares in the company, valued at $2,760,634.80. This trade represents a 3.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ted L. Tewksbury III sold 5,800 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $15.36, for a total transaction of $89,088.00. Following the completion of the sale, the director now owns 69,717 shares in the company, valued at approximately $1,070,853.12. This trade represents a 7.68 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,900 shares of company stock valued at $927,278. 8.60% of the stock is currently owned by insiders.

Institutional Trading of MaxLinear

A number of hedge funds have recently made changes to their positions in the stock. Vaughan Nelson Investment Management L.P. purchased a new position in MaxLinear during the third quarter valued at $16,696,000. Assenagon Asset Management S.A. lifted its holdings in shares of MaxLinear by 339.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,250,769 shares of the semiconductor company’s stock valued at $24,740,000 after purchasing an additional 966,468 shares in the last quarter. Millennium Management LLC boosted its position in shares of MaxLinear by 307.9% during the second quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company’s stock valued at $21,039,000 after buying an additional 788,558 shares during the last quarter. FMR LLC grew its stake in shares of MaxLinear by 184.5% in the third quarter. FMR LLC now owns 456,929 shares of the semiconductor company’s stock worth $6,616,000 after acquiring an additional 296,339 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its stake in MaxLinear by 36.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,089,065 shares of the semiconductor company’s stock valued at $15,770,000 after buying an additional 291,874 shares during the last quarter. 90.79% of the stock is owned by institutional investors.

MaxLinear Company Profile

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.