MaxLinear (NASDAQ:MXL) Stock Price Up 9.8% – Here’s What Happened

MaxLinear, Inc. (NASDAQ:MXL)’s stock price shot up 9.8% during trading on Wednesday . The company traded as high as $15.58 and last traded at $15.64. 1,906,480 shares traded hands during mid-day trading, a decline of 7% from the average session volume of 2,056,680 shares. The stock had previously closed at $14.25.

Wall Street Analyst Weigh In

MXL has been the topic of a number of recent research reports. Susquehanna decreased their price objective on MaxLinear from $25.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Northland Securities boosted their price objective on shares of MaxLinear from $25.00 to $27.50 and gave the company an “outperform” rating in a research report on Monday, January 6th. Wells Fargo & Company raised their target price on shares of MaxLinear from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Benchmark reaffirmed a “buy” rating and set a $28.00 price target on shares of MaxLinear in a research note on Thursday, January 30th. Finally, Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, MaxLinear currently has a consensus rating of “Hold” and a consensus target price of $25.50.

MaxLinear Trading Up 9.2 %

The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.28 and a current ratio of 1.77. The company has a market capitalization of $1.32 billion, a P/E ratio of -5.31 and a beta of 1.77. The company’s fifty day simple moving average is $19.50 and its 200-day simple moving average is $16.37.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings results 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 68.01% and a negative return on equity of 21.94%. Research analysts predict that MaxLinear, Inc. will post -0.37 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Steven G. Litchfield sold 32,000 shares of MaxLinear stock in a transaction on Friday, December 13th. The shares were sold at an average price of $20.35, for a total transaction of $651,200.00. Following the completion of the sale, the insider now directly owns 365,868 shares in the company, valued at approximately $7,445,413.80. The trade was a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Connie H. Kwong sold 5,000 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 49,147 shares in the company, 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. Corporate insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On MaxLinear

A number of large investors have recently bought and sold shares of MXL. The Manufacturers Life Insurance Company boosted its holdings in shares of MaxLinear by 3,698.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,525,419 shares of the semiconductor company’s stock valued at $30,173,000 after acquiring an additional 1,485,256 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in MaxLinear in the fourth quarter valued at $25,659,000. Schonfeld Strategic Advisors LLC acquired a new stake in MaxLinear during the 4th quarter worth about $25,027,000. Point72 Asset Management L.P. lifted its holdings in shares of MaxLinear by 1,813.5% in the 4th quarter. Point72 Asset Management L.P. now owns 1,256,300 shares of the semiconductor company’s stock valued at $24,850,000 after buying an additional 1,190,647 shares during the period. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in shares of MaxLinear in the third quarter worth about $16,696,000. Hedge funds and other institutional investors own 90.79% of the company’s stock.

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.