Shares of MaxLinear, Inc (NASDAQ:MXL – Get Free Report) rose 5.9% during mid-day trading on Friday . The company traded as high as $90.09 and last traded at $93.9890. Approximately 2,244,131 shares changed hands during trading, a decline of 15% from the average daily volume of 2,626,163 shares. The stock had previously closed at $88.78.
Analyst Upgrades and Downgrades
MXL has been the subject of a number of research reports. Wells Fargo & Company lifted their price target on shares of MaxLinear from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Friday, January 30th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $40.00 price target on shares of MaxLinear in a research report on Friday, April 24th. Loop Capital upgraded shares of MaxLinear from a “hold” rating to a “buy” rating and lifted their price target for the company from $17.00 to $75.00 in a research report on Wednesday, April 29th. Needham & Company LLC upgraded shares of MaxLinear from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Friday, April 24th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MaxLinear in a research report on Tuesday, April 21st. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $44.20.
Get Our Latest Stock Report on MXL
MaxLinear Price 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, topping the consensus estimate of $0.18 by $0.04. MaxLinear had a negative return on equity of 2.33% and a negative net margin of 25.96%.The firm had revenue of $137.19 million during the quarter, compared to the consensus estimate of $137.15 million. During the same period in the previous year, the firm posted ($0.05) EPS. The company’s quarterly revenue was up 43.0% compared to the same quarter last year. As a group, equities research analysts expect that MaxLinear, Inc will post 0.52 earnings per share for the current fiscal year.
Insider Activity at MaxLinear
In related news, insider Connie H. Kwong sold 35,000 shares of MaxLinear stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $96.96, for a total transaction of $3,393,600.00. Following the completion of the transaction, the insider directly owned 13,947 shares in the company, valued at $1,352,301.12. The trade was a 71.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Steven G. Litchfield sold 20,000 shares of MaxLinear stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $15.68, for a total value of $313,600.00. Following the transaction, the insider owned 343,435 shares of the company’s stock, valued at $5,385,060.80. This represents a 5.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 99,097 shares of company stock valued at $5,150,815 over the last 90 days. Insiders own 7.70% of the company’s stock.
Institutional Trading of MaxLinear
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Captrust Financial Advisors grew its stake in MaxLinear by 4.3% in the 4th quarter. Captrust Financial Advisors now owns 14,074 shares of the semiconductor company’s stock worth $245,000 after acquiring an additional 577 shares during the period. State of Alaska Department of Revenue grew its stake in MaxLinear by 1.4% in the 4th quarter. State of Alaska Department of Revenue now owns 45,677 shares of the semiconductor company’s stock worth $795,000 after acquiring an additional 632 shares during the period. ProShare Advisors LLC grew its stake in MaxLinear by 4.3% in the 4th quarter. ProShare Advisors LLC now owns 16,048 shares of the semiconductor company’s stock worth $280,000 after acquiring an additional 664 shares during the period. Smartleaf Asset Management LLC grew its stake in MaxLinear by 103.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 726 shares during the period. Finally, Amalgamated Bank grew its stake in MaxLinear by 3.5% in the 3rd quarter. Amalgamated Bank now owns 23,210 shares of the semiconductor company’s stock worth $373,000 after acquiring an additional 775 shares during the period. 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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