MaxLinear, Inc (NASDAQ:MXL – Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $62.78, but opened at $66.62. MaxLinear shares last traded at $65.6270, with a volume of 339,553 shares traded.
Analysts Set New Price Targets
Several research analysts have commented on MXL shares. Roth Capital lifted their price target on shares of MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxLinear in a research note on Friday, July 17th. Needham & Company LLC increased their target price on shares of MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a report on Friday, July 24th. Loop Capital upgraded shares of MaxLinear from a “hold” rating to a “buy” rating and lifted their target price for the stock from $17.00 to $75.00 in a research report on Wednesday, April 29th. Finally, Stifel Nicolaus boosted their price target on shares of MaxLinear from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, MaxLinear presently has an average rating of “Hold” and a consensus price target of $85.00.
Get Our Latest Stock Report on MaxLinear
MaxLinear Stock Down 5.1%
MaxLinear (NASDAQ:MXL – Get Free Report) last announced its earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. MaxLinear had a negative net margin of 18.24% and a positive return on equity of 2.24%. The firm had revenue of $168.85 million for the quarter, compared to analyst estimates of $164.64 million. During the same quarter in the previous year, the firm posted $0.02 EPS. The company’s revenue for the quarter was up 55.2% compared to the same quarter last year. Research analysts expect that MaxLinear, Inc will post 0.78 EPS for the current year.
Insiders Place Their Bets
In other MaxLinear news, CEO Kishore Seendripu sold 351,454 shares of MaxLinear stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $85.95, for a total transaction of $30,207,471.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 7.70% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in MXL. BlackRock Inc. purchased a new stake in MaxLinear in the second quarter worth $1,754,062,000. Vanguard Group Inc. lifted its position in MaxLinear by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 13,326,387 shares of the semiconductor company’s stock valued at $232,279,000 after buying an additional 605,903 shares during the period. California State Teachers Retirement System lifted its position in MaxLinear by 12,029.5% during the second quarter. California State Teachers Retirement System now owns 12,619,533 shares of the semiconductor company’s stock valued at $1,615,679,000 after buying an additional 12,515,493 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of MaxLinear by 27.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,889,111 shares of the semiconductor company’s stock valued at $41,054,000 after buying an additional 628,719 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of MaxLinear by 419.9% during the 4th quarter. Invesco Ltd. now owns 2,149,589 shares of the semiconductor company’s stock valued at $37,467,000 after buying an additional 1,736,141 shares in the last quarter. Hedge funds and other institutional investors own 90.79% of the company’s stock.
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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