MaxLinear (NASDAQ:MXL) Reaches New 12-Month High – What’s Next?

MaxLinear, Inc (NASDAQ:MXL) shares reached a new 52-week high on Friday . The company traded as high as $21.04 and last traded at $20.60, with a volume of 465513 shares traded. The stock had previously closed at $19.84.

Analyst Ratings Changes

MXL has been the subject of a number of recent analyst reports. Benchmark upped their price target on shares of MaxLinear from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Wells Fargo & Company upped their target price on shares of MaxLinear from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Friday, January 30th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $19.57.

MaxLinear Trading Up 4.3%

The company has a debt-to-equity ratio of 0.27, a current ratio of 1.34 and a quick ratio of 0.92. The stock’s 50-day moving average is $17.80 and its two-hundred day moving average is $17.19. The stock has a market cap of $1.79 billion, a P/E ratio of -13.09 and a beta of 1.70.

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

Insider Buying and Selling at MaxLinear

In related news, insider Steven G. Litchfield sold 20,000 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $17.50, for a total transaction of $350,000.00. Following the completion of the transaction, the insider owned 368,364 shares in the company, valued at approximately $6,446,370. This represents a 5.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 44,929 shares of company stock worth $746,456 in the last three months. 7.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MaxLinear

Institutional investors have recently bought and sold shares of the business. Summit Global Investments bought a new position in MaxLinear during the third quarter valued at $555,000. Lisanti Capital Growth LLC bought a new position in MaxLinear during the third quarter valued at $1,180,000. AIGH Capital Management LLC bought a new position in MaxLinear during the third quarter valued at $17,809,000. Essex Investment Management Co. LLC bought a new position in MaxLinear during the third quarter valued at $3,864,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in MaxLinear during the third quarter valued at $1,571,000. Institutional investors own 90.79% of the company’s stock.

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.