MaxLinear (NASDAQ:MXL) Stock Passes Above 200-Day Moving Average – Here’s Why

Shares of MaxLinear, Inc (NASDAQ:MXL) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $16.30 and traded as high as $19.63. MaxLinear shares last traded at $19.37, with a volume of 1,172,833 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MXL shares. Williams Trading set a $25.00 price objective on shares of MaxLinear in a research note on Friday, October 24th. Stifel Nicolaus set a $23.00 price target on shares of MaxLinear in a research report on Friday, October 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MaxLinear in a research note on Wednesday, October 8th. Finally, Benchmark upped their price objective on MaxLinear from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Friday. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $19.29.

MaxLinear Stock Up 0.4%

The company has a debt-to-equity ratio of 0.27, a current ratio of 1.55 and a quick ratio of 1.08. The stock’s fifty day simple moving average is $17.15 and its 200-day simple moving average is $16.30. The stock has a market cap of $1.69 billion, a P/E ratio of -9.27 and a beta of 1.77.

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 analysts’ consensus estimates of $0.12 by $0.02. MaxLinear had a negative return on equity of 12.74% and a negative net margin of 42.43%.The business had revenue of $126.46 million for the quarter, compared to analysts’ expectations of $124.66 million. During the same period in the prior year, the firm earned ($0.36) EPS. The business’s quarterly revenue was up 56.0% on a year-over-year basis. On average, research analysts anticipate that MaxLinear, Inc will post -0.37 earnings per share for the current year.

MaxLinear announced that its board has initiated a share repurchase plan on Monday, November 24th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 5.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Activity at MaxLinear

In related news, Director Daniel A. Artusi sold 20,747 shares of the stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $15.39, for a total value of $319,296.33. Following the sale, the director owned 12,141 shares of the company’s stock, valued at $186,849.99. This trade represents a 63.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On MaxLinear

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada grew its position in MaxLinear by 3.1% in the 1st quarter. Royal Bank of Canada now owns 72,664 shares of the semiconductor company’s stock valued at $789,000 after buying an additional 2,204 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of MaxLinear by 56.0% in the 1st quarter. AQR Capital Management LLC now owns 296,297 shares of the semiconductor company’s stock worth $3,218,000 after acquiring an additional 106,355 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of MaxLinear by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,437 shares of the semiconductor company’s stock valued at $515,000 after acquiring an additional 2,043 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of MaxLinear by 0.4% during the first quarter. Goldman Sachs Group Inc. now owns 535,230 shares of the semiconductor company’s stock valued at $5,813,000 after acquiring an additional 2,039 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of MaxLinear by 23.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 182,362 shares of the semiconductor company’s stock valued at $1,980,000 after acquiring an additional 35,152 shares during the period. 90.79% of the stock is currently owned by institutional investors.

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.