MaxLinear, Inc (NASDAQ:MXL – Get Free Report)’s stock price shot up 7.3% on Monday . The stock traded as high as $106.20 and last traded at $103.6890. 2,318,767 shares traded hands during mid-day trading, a decline of 24% from the average daily volume of 3,049,515 shares. The stock had previously closed at $96.60.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on MXL. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxLinear in a research note on Tuesday, April 21st. Stifel Nicolaus raised their price objective on MaxLinear from $105.00 to $110.00 and gave the company a “buy” rating in a report on Monday. Roth Mkm upgraded shares of MaxLinear from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Friday, April 24th. Needham & Company LLC upgraded shares of 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, April 24th. Finally, Benchmark began coverage on shares of MaxLinear in a research report on Wednesday, May 27th. They set a “buy” rating and a $125.00 price target for the company. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, MaxLinear has an average rating of “Hold” and a consensus price target of $65.50.
View Our Latest Analysis on MaxLinear
MaxLinear Stock Performance
MaxLinear (NASDAQ:MXL – Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. MaxLinear had a negative net margin of 25.96% and a negative return on equity of 2.33%. The business had revenue of $137.19 million for the quarter, compared to the consensus estimate of $137.15 million. During the same period in the previous year, the firm earned ($0.05) EPS. The company’s quarterly revenue was up 43.0% compared to the same quarter last year. As a group, sell-side analysts expect that MaxLinear, Inc will post 0.52 earnings per share for the current year.
Insider Activity at MaxLinear
In related news, Director Thomas E. Pardun sold 11,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $105.00, for a total transaction of $1,155,000.00. Following the completion of the transaction, the director owned 55,252 shares of the company’s stock, valued at $5,801,460. This trade represents a 16.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Connie H. Kwong sold 35,000 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $96.96, for a total value of $3,393,600.00. Following the completion of the sale, the insider directly owned 13,947 shares in the company, valued at approximately $1,352,301.12. This represents a 71.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 65,168 shares of company stock worth $5,559,358 over the last 90 days. 7.70% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. Larson Financial Group LLC increased its position in shares of MaxLinear by 161.7% during the fourth quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 875 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of MaxLinear by 103.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 726 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in MaxLinear during the fourth quarter valued at approximately $25,000. International Assets Investment Management LLC bought a new position in shares of MaxLinear during the 4th quarter valued at $27,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of MaxLinear by 16.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock worth $27,000 after buying an additional 217 shares during the last quarter. 90.79% of the stock is 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.
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