MaxLinear, Inc (NASDAQ:MXL – Get Free Report) shot up 7.4% during trading on Tuesday. The company traded as high as $70.74 and last traded at $71.3560. Approximately 896,697 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 3,143,697 shares. The stock had previously closed at $66.47.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on MXL. Roth Capital lifted their price objective on shares of MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a report on Friday, July 24th. Wells Fargo & Company lowered their price objective on shares of MaxLinear from $95.00 to $78.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 20th. Needham & Company LLC upped their target price 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 report on Thursday, October 15th. Finally, Stifel Nicolaus lifted their price target on shares of MaxLinear from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $94.30.
Read Our Latest Stock Analysis on MaxLinear
MaxLinear Trading Up 0.6%
The company has a quick ratio of 1.57, a current ratio of 2.22 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $6.81 billion, a PE ratio of -203.08 and a beta of 3.93. The stock’s 50 day moving average is $77.04 and its two-hundred day moving average is $58.85.
MaxLinear (NASDAQ:MXL – Get Free Report) last announced its quarterly earnings results on Thursday, October 22nd. The semiconductor company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.06. The firm had revenue of $218.06 million during the quarter, compared to analysts’ expectations of $214.95 million. MaxLinear had a negative net margin of 4.45% and a positive return on equity of 12.89%. The company’s revenue was up 72.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.14 EPS. As a group, sell-side analysts predict that MaxLinear, Inc will post 0.78 EPS for the current fiscal year.
Insider Transactions at MaxLinear
In other news, CEO Kishore Seendripu sold 351,454 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $85.95, for a total value of $30,207,471.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 7.70% of the stock is owned by company insiders.
Institutional Investors Weigh In On MaxLinear
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in MaxLinear in the second quarter worth approximately $1,754,062,000. The Manufacturers Life Insurance Company purchased a new stake in shares of MaxLinear during the second quarter worth $165,221,000. AIGH Capital Management LLC purchased a new position in MaxLinear in the second quarter valued at $104,729,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in MaxLinear during the 2nd quarter worth $81,056,000. Finally, Bank of New York Mellon Corp acquired a new position in MaxLinear during the 2nd quarter worth $65,213,000. Hedge funds and other institutional investors own 90.79% of the company’s stock.
About MaxLinear
MaxLinear, Inc is a fabless semiconductor company that designs, develops and sells integrated circuits and related solutions for broadband communications, wired and wireless infrastructure, data centers, industrial applications and consumer electronics. Its products are used by equipment manufacturers and service providers to support the transmission, processing and management of voice, video and data.
The company’s portfolio includes broadband access system-on-chip products, Ethernet transceivers and controllers, high-speed interconnect and communications devices, radio-frequency and analog products, optical and copper connectivity solutions, and power-management components.
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