MaxLinear, Inc (NASDAQ:MXL – Get Free Report)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $95.80, but opened at $92.31. MaxLinear shares last traded at $92.59, with a volume of 218,648 shares.
Analyst Ratings Changes
MXL has been the topic of a number of research reports. Wall Street Zen raised MaxLinear from a “hold” rating to a “buy” rating in a report on Sunday, July 5th. Benchmark began coverage on shares of MaxLinear in a research report on Wednesday, May 27th. They issued a “buy” rating and a $125.00 target price for the company. Needham & Company LLC upgraded shares of MaxLinear from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Friday, April 24th. Roth Capital raised shares of MaxLinear from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Friday, April 24th. Finally, Stifel Nicolaus boosted their price objective on shares of MaxLinear from $105.00 to $110.00 and gave the company a “buy” rating in a report on Monday, June 29th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $65.50.
Check Out Our Latest Stock Analysis on MaxLinear
MaxLinear Stock Performance
MaxLinear (NASDAQ:MXL – Get Free Report) last released its earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. The firm had revenue of $137.19 million during the quarter, compared to the consensus estimate of $137.15 million. MaxLinear had a negative return on equity of 2.33% and a negative net margin of 25.96%.The company’s revenue was up 43.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.05) EPS. On average, equities analysts expect that MaxLinear, Inc will post 0.52 earnings per share for the current year.
Insider Activity
In other MaxLinear news, insider Connie H. Kwong sold 35,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $96.96, for a total value of $3,393,600.00. Following the transaction, the insider directly owned 13,947 shares of the company’s stock, valued at $1,352,301.12. This trade represents a 71.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas E. Pardun sold 11,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were 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. The trade was a 16.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 65,168 shares of company stock valued at $5,559,358 in the last ninety days. 7.70% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of 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% during 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 increased its stake in shares of MaxLinear by 103.0% in the 4th 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 shares of MaxLinear in the 4th quarter valued at $25,000. International Assets Investment Management LLC bought a new position in shares of MaxLinear in the 4th quarter valued at $27,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of MaxLinear by 16.1% during 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 in the last quarter. 90.79% of the stock is 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.
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