MaxLinear (NASDAQ:MXL) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

MaxLinear, Inc (NASDAQ:MXL) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $16.87 and traded as high as $17.67. MaxLinear shares last traded at $17.43, with a volume of 1,510,150 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MXL shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of MaxLinear in a research report on Thursday, January 22nd. Wells Fargo & Company upped their price objective on MaxLinear from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Friday, January 30th. Finally, Benchmark increased their target price on MaxLinear from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, January 16th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, MaxLinear presently has an average rating of “Hold” and a consensus target price of $19.57.

MaxLinear Stock Performance

The firm has a market capitalization of $1.51 billion, a PE ratio of -11.03 and a beta of 1.74. The business has a 50-day simple moving average of $18.44 and a 200-day simple moving average of $16.87. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.34 and a quick ratio of 0.92.

MaxLinear (NASDAQ:MXL) last announced its earnings results on Thursday, January 29th. The semiconductor company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. MaxLinear had a negative return on equity of 6.95% and a negative net margin of 29.23%.The firm had revenue of $136.44 million during the quarter, compared to analysts’ expectations of $134.82 million. During the same quarter in the previous year, the business earned ($0.09) EPS. The company’s quarterly revenue was up 48.0% on a year-over-year basis. Equities research analysts expect that MaxLinear, Inc will post -0.37 earnings per share for the current fiscal year.

MaxLinear declared that its board has authorized a share buyback plan on Monday, November 24th that permits the company to buyback $75.00 million in outstanding shares. This buyback authorization permits the semiconductor company to buy up to 5.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On MaxLinear

Several hedge funds have recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its stake in MaxLinear by 161.7% in the fourth quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 875 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of MaxLinear by 103.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock worth $25,000 after buying an additional 726 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of MaxLinear in the fourth quarter worth approximately $25,000. International Assets Investment Management LLC bought a new stake in shares of MaxLinear during the 4th quarter worth approximately $27,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in MaxLinear by 97.0% during 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. 90.79% of the stock is currently owned by 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.