MaxLinear (NASDAQ:MXL) Trading 6.1% Higher – Still a Buy?

MaxLinear, Inc. (NASDAQ:MXL) traded up 6.1% during trading on Thursday . The company traded as high as $15.59 and last traded at $15.59. 45,914 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 994,047 shares. The stock had previously closed at $14.69.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MXL. Northland Securities reduced their target price on MaxLinear from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Craig Hallum reduced their target price on MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Benchmark restated a “buy” rating and set a $22.00 price objective on shares of MaxLinear in a research report on Thursday, October 24th. Needham & Company LLC restated a “hold” rating on shares of MaxLinear in a research report on Thursday, October 24th. Finally, Susquehanna downgraded MaxLinear from a “positive” rating to a “neutral” rating and dropped their price objective for the stock from $26.00 to $15.00 in a research report on Tuesday, October 1st. One equities 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 company’s stock. According to MarketBeat.com, MaxLinear currently has an average rating of “Hold” and a consensus target price of $23.86.

MaxLinear Stock Up 5.3 %

The company has a debt-to-equity ratio of 0.22, a current ratio of 1.95 and a quick ratio of 1.38. The stock has a market capitalization of $1.31 billion, a P/E ratio of -5.75 and a beta of 1.85. The firm has a 50-day simple moving average of $14.34 and a 200 day simple moving average of $16.30.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%. 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 earned ($0.02) earnings per share. MaxLinear’s revenue was down 40.2% compared to the same quarter last year. On average, equities research analysts forecast that MaxLinear, Inc. will post -1.66 EPS for the current year.

Insider Buying and Selling

In related news, VP William Torgerson sold 6,100 shares of MaxLinear 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 at this link. 8.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Simplicity Wealth LLC lifted its holdings in MaxLinear by 3.1% during the second quarter. Simplicity Wealth LLC now owns 19,283 shares of the semiconductor company’s stock worth $388,000 after acquiring an additional 579 shares during the period. ProShare Advisors LLC lifted its holdings in MaxLinear by 7.4% during the first quarter. ProShare Advisors LLC now owns 15,304 shares of the semiconductor company’s stock worth $286,000 after acquiring an additional 1,061 shares during the period. Louisiana State Employees Retirement System lifted its holdings in MaxLinear by 3.0% during the second 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 period. Nisa Investment Advisors LLC lifted its holdings in MaxLinear by 20.3% during the third quarter. Nisa Investment Advisors LLC now owns 7,761 shares of the semiconductor company’s stock worth $112,000 after acquiring an additional 1,308 shares during the period. Finally, Innealta Capital LLC bought a new stake in MaxLinear during the second quarter worth $30,000. Hedge funds and other institutional investors own 90.79% of the company’s stock.

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.