MaxLinear, Inc (NASDAQ:MXL – Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $74.57, but opened at $67.52. MaxLinear shares last traded at $70.25, with a volume of 551,432 shares changing hands.
Analyst Upgrades and Downgrades
A number of research analysts have commented on the stock. Wells Fargo & Company upped their target price on shares of MaxLinear from $42.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, July 20th. Morgan Stanley set a $125.00 price target on shares of MaxLinear in a research report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a research note on Friday, July 17th. Benchmark started coverage on shares of MaxLinear in a report on Wednesday, May 27th. They issued a “buy” rating and a $125.00 price objective on the stock. Finally, Needham & Company LLC upped their price objective on shares of MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, MaxLinear has a consensus rating of “Hold” and a consensus price target of $88.64.
View Our Latest Stock Report on MXL
MaxLinear Price Performance
MaxLinear (NASDAQ:MXL – Get Free Report) last posted its earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. MaxLinear had a positive return on equity of 2.24% and a negative net margin of 18.24%.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 prior year, the company earned $0.02 EPS. MaxLinear’s revenue was up 55.2% on a year-over-year basis. As a group, analysts expect that MaxLinear, Inc will post 0.78 EPS for the current year.
Insider Transactions at MaxLinear
In other news, CEO Kishore Seendripu sold 351,454 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $85.95, for a total transaction of $30,207,471.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. 7.70% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. HighTower Advisors LLC grew its stake in shares of MaxLinear by 1.7% in the fourth quarter. HighTower Advisors LLC now owns 656,319 shares of the semiconductor company’s stock worth $11,440,000 after acquiring an additional 10,948 shares in the last quarter. AIGH Capital Management LLC purchased a new stake in shares of MaxLinear during the second quarter worth $104,729,000. Assenagon Asset Management S.A. raised its stake in shares of MaxLinear by 110.9% in the second quarter. Assenagon Asset Management S.A. now owns 221,266 shares of the semiconductor company’s stock valued at $28,329,000 after acquiring an additional 116,339 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of MaxLinear in the second quarter valued at $1,754,062,000. Finally, UNICOM Systems Inc. purchased a new position in MaxLinear in the second quarter valued at $14,711,000. Institutional investors and hedge funds own 90.79% of the company’s stock.
About MaxLinear
MaxLinear, Inc is a fabless semiconductor company that designs and develops high-performance analog and mixed-signal integrated circuits. Its products are used in broadband communications, wired and wireless infrastructure, data center, networking, and industrial applications.
The company’s portfolio includes solutions for broadband access and connectivity, including cable and fiber-optic infrastructure, Ethernet and high-speed interconnects, optical communications, power management, interface products, and embedded processors.
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