MaxLinear, Inc (NASDAQ:MXL – Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $103.90 and last traded at $97.7760, with a volume of 708640 shares. The stock had previously closed at $99.83.
Wall Street Analyst Weigh In
Several brokerages have issued reports on MXL. Northland Securities set a $55.00 target price on shares of MaxLinear in a research note on Friday, April 24th. Stifel Nicolaus boosted their price target on shares of MaxLinear from $34.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Susquehanna reissued a “neutral” rating and set a $30.00 price target on shares of MaxLinear in a research report on Monday, April 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a research report on Tuesday, April 21st. Finally, Loop Capital raised shares of MaxLinear from a “hold” rating to a “buy” rating and boosted their price target for the company from $17.00 to $75.00 in a research report on Wednesday, April 29th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, MaxLinear has a consensus rating of “Hold” and a consensus target price of $44.20.
Read Our Latest Report 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 the consensus estimate of $0.18 by $0.04. The firm had revenue of $137.19 million for the quarter, compared to analyst estimates of $137.15 million. MaxLinear had a negative net margin of 25.96% and a negative return on equity of 2.33%. MaxLinear’s revenue was up 43.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.05) EPS. As a group, research analysts anticipate that MaxLinear, Inc will post 0.52 earnings per share for the current year.
Insider Activity
In other MaxLinear news, insider Steven G. Litchfield sold 20,000 shares of the company’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $15.68, for a total transaction of $313,600.00. Following the transaction, the insider directly owned 343,435 shares in the company, valued at $5,385,060.80. This represents a 5.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Connie H. Kwong sold 35,000 shares of the company’s 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 transaction, the insider owned 13,947 shares in the company, valued at $1,352,301.12. This trade represents a 71.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 99,097 shares of company stock worth $5,150,815. 7.70% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in MXL. Royal Bank of Canada increased its stake in MaxLinear by 3.1% during the first quarter. Royal Bank of Canada now owns 72,664 shares of the semiconductor company’s stock worth $789,000 after purchasing an additional 2,204 shares during the period. AQR Capital Management LLC increased its stake in MaxLinear by 56.0% during the first quarter. AQR Capital Management LLC now owns 296,297 shares of the semiconductor company’s stock worth $3,218,000 after purchasing an additional 106,355 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in MaxLinear by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,437 shares of the semiconductor company’s stock worth $515,000 after purchasing an additional 2,043 shares during the period. Goldman Sachs Group Inc. increased its stake in MaxLinear by 0.4% during the first quarter. Goldman Sachs Group Inc. now owns 535,230 shares of the semiconductor company’s stock worth $5,813,000 after purchasing 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 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 worth $1,980,000 after purchasing an additional 35,152 shares during the period. 90.79% of the stock is currently owned by institutional investors and hedge funds.
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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