MaxLinear (NASDAQ:MXL) Sees Strong Trading Volume on Analyst Upgrade

MaxLinear, Inc (NASDAQ:MXL) shares saw an uptick in trading volume on Monday after Stifel Nicolaus raised their price target on the stock from $34.00 to $49.00. Stifel Nicolaus currently has a buy rating on the stock. 3,019,432 shares were traded during trading, an increase of 65% from the previous session’s volume of 1,827,506 shares.The stock last traded at $54.0330 and had previously closed at $60.32.

Several other equities research analysts have also weighed in on the company. Wells Fargo & Company raised their target price on MaxLinear from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Friday, January 30th. Roth Mkm raised MaxLinear from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a research report on Tuesday, April 21st. Needham & Company LLC raised MaxLinear from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Friday. Finally, Benchmark raised their target price on MaxLinear from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, MaxLinear presently has a consensus rating of “Hold” and a consensus price target of $38.20.

Insider Buying and Selling

In other MaxLinear news, insider Steven G. Litchfield sold 20,000 shares of MaxLinear stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $17.50, for a total transaction of $350,000.00. Following the transaction, the insider owned 368,364 shares of the company’s stock, valued at $6,446,370. The trade was a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 44,929 shares of company stock worth $746,456 over the last quarter. Insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Strs Ohio increased its position in MaxLinear by 481.0% during the first quarter. Strs Ohio now owns 12,200 shares of the semiconductor company’s stock worth $212,000 after buying an additional 10,100 shares during the period. Inspire Investing LLC increased its position in MaxLinear by 12.2% during the first quarter. Inspire Investing LLC now owns 29,823 shares of the semiconductor company’s stock worth $519,000 after buying an additional 3,243 shares during the period. Pictet Asset Management Holding SA increased its position in MaxLinear by 24.8% during the first quarter. Pictet Asset Management Holding SA now owns 13,586 shares of the semiconductor company’s stock worth $236,000 after buying an additional 2,702 shares during the period. Louisiana State Employees Retirement System acquired a new position in MaxLinear during the first quarter worth approximately $626,000. Finally, Pure Financial Advisors LLC acquired a new position in MaxLinear during the fourth quarter worth approximately $1,424,000. Institutional investors and hedge funds own 90.79% of the company’s stock.

MaxLinear Stock Down 14.4%

The firm has a 50 day simple moving average of $20.94 and a two-hundred day simple moving average of $18.48. The company has a market capitalization of $4.47 billion, a PE ratio of -33.98 and a beta of 1.70. The company has a current ratio of 1.70, a quick ratio of 1.12 and a debt-to-equity ratio of 0.27.

MaxLinear (NASDAQ:MXL) last announced its earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.04. MaxLinear had a negative return on equity of 2.33% and a negative net margin of 25.96%.The company had revenue of $137.19 million for the quarter, compared to the consensus estimate of $137.15 million. During the same period last year, the business posted ($0.05) EPS. The company’s revenue was up 43.0% on a year-over-year basis. Research analysts expect that MaxLinear, Inc will post -0.17 EPS for the current year.

About MaxLinear

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.