MaxLinear, Inc (NASDAQ:MXL – Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $106.28 and last traded at $100.26, with a volume of 1008394 shares traded. The stock had previously closed at $99.16.
Analyst Upgrades and Downgrades
A number of analysts recently commented on the stock. Wells Fargo & Company boosted their target price on shares of MaxLinear from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Friday, January 30th. Needham & Company LLC upgraded shares of MaxLinear from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Friday, April 24th. Loop Capital upgraded shares of MaxLinear from a “hold” rating to a “buy” rating and boosted their target price for the stock from $17.00 to $75.00 in a report on Wednesday, April 29th. Northland Securities set a $55.00 target price on shares of MaxLinear in a report on Friday, April 24th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MaxLinear in a report on Tuesday, April 21st. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $53.90.
Read Our Latest Stock Analysis on MaxLinear
MaxLinear Stock Up 5.2%
MaxLinear (NASDAQ:MXL – Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The semiconductor company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. MaxLinear had a negative net margin of 25.96% and a negative return on equity of 2.33%. The company had revenue of $137.19 million during the quarter, compared to analyst estimates of $137.15 million. During the same period in the prior year, the firm earned ($0.05) earnings per share. The business’s quarterly revenue was up 43.0% on a year-over-year basis. As a group, analysts forecast that MaxLinear, Inc will post 0.52 EPS for the current year.
Insider Transactions at MaxLinear
In other MaxLinear news, insider Steven G. Litchfield sold 20,000 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $15.68, for a total transaction of $313,600.00. Following the completion of the sale, the insider directly owned 343,435 shares of the company’s stock, valued at approximately $5,385,060.80. This represents a 5.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Connie H. Kwong sold 35,000 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $96.96, for a total transaction of $3,393,600.00. Following the sale, the insider directly owned 13,947 shares of the company’s stock, valued at $1,352,301.12. This represents a 71.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 99,097 shares of company stock valued at $5,150,815 over the last ninety days. Insiders own 7.70% of the company’s stock.
Institutional Trading of MaxLinear
A number of hedge funds have recently made changes to their positions in the stock. Glenmede Trust Co. NA lifted its position in shares of MaxLinear by 66.2% in the first quarter. Glenmede Trust Co. NA now owns 37,836 shares of the semiconductor company’s stock worth $658,000 after purchasing an additional 15,072 shares in the last quarter. Bank of America Corp DE lifted its position in shares of MaxLinear by 6.9% in the first quarter. Bank of America Corp DE now owns 641,034 shares of the semiconductor company’s stock worth $11,148,000 after purchasing an additional 41,119 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of MaxLinear by 16.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 217 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of MaxLinear by 28.4% in the first quarter. California State Teachers Retirement System now owns 104,040 shares of the semiconductor company’s stock worth $1,809,000 after purchasing an additional 22,993 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its position in shares of MaxLinear by 14.3% in the first quarter. Quantinno Capital Management LP now owns 47,858 shares of the semiconductor company’s stock worth $832,000 after purchasing an additional 5,982 shares in the last quarter. 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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