MaxLinear (NASDAQ:MXL) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

MaxLinear, Inc (NASDAQ:MXL)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.74 and traded as high as $17.74. MaxLinear shares last traded at $17.58, with a volume of 702,136 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on MXL shares. Williams Trading set a $25.00 target price on MaxLinear in a report on Friday, October 24th. Zacks Research cut MaxLinear from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 22nd. Wall Street Zen raised shares of MaxLinear from a “hold” rating to a “buy” rating in a research report on Saturday, September 20th. Stifel Nicolaus set a $23.00 target price on shares of MaxLinear in a research report on Friday, October 24th. Finally, Benchmark reiterated a “buy” rating and issued a $25.00 price objective on shares of MaxLinear in a research note on Friday, October 24th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $19.94.

MaxLinear Stock Down 0.8%

The business’s fifty day moving average is $16.20 and its two-hundred day moving average is $15.74. The company has a market cap of $1.54 billion, a P/E ratio of -8.41 and a beta of 1.82. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.55.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings results on Thursday, October 23rd. The semiconductor company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. MaxLinear had a negative net margin of 42.43% and a negative return on equity of 12.74%. The firm had revenue of $126.46 million during the quarter, compared to analysts’ expectations of $124.66 million. During the same quarter in the prior year, the company earned ($0.36) EPS. The company’s revenue was up 56.0% compared to the same quarter last year. Equities analysts predict that MaxLinear, Inc will post -0.37 EPS for the current year.

MaxLinear announced that its board has approved a stock repurchase plan on Monday, November 24th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 5.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at MaxLinear

In other MaxLinear news, Director Daniel A. Artusi sold 20,747 shares of the company’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $15.39, for a total transaction of $319,296.33. Following the completion of the transaction, the director directly owned 12,141 shares in the company, valued at approximately $186,849.99. This represents a 63.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 7.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MaxLinear

Several hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its holdings in shares of MaxLinear by 97.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 1,039 shares during the period. Quarry LP increased its stake in shares of MaxLinear by 1,293.0% during the 3rd quarter. Quarry LP now owns 2,187 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 2,030 shares in the last quarter. Farther Finance Advisors LLC acquired a new stake in shares of MaxLinear during the 2nd quarter worth about $44,000. Bessemer Group Inc. grew its position in shares of MaxLinear by 917.6% in the third quarter. Bessemer Group Inc. now owns 3,175 shares of the semiconductor company’s stock valued at $51,000 after purchasing an additional 2,863 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in shares of MaxLinear by 104.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,579 shares of the semiconductor company’s stock valued at $51,000 after buying an additional 1,828 shares during the period. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

MaxLinear Company Profile

MaxLinear, Inc is a provider of radio-frequency (RF), analog, and mixed-signal integrated circuits for broadband communications, data center connectivity, and video infrastructure applications. The company’s product portfolio includes high-performance RF front-end modules, broadband power amplifiers, optical and Ethernet transceivers, and network processors designed to support demanding signal processing requirements.

MaxLinear’s semiconductor solutions are used by cable and satellite television operators, fiber-to-the-home service providers, network equipment manufacturers, and data center operators.