MaxLinear, Inc (NASDAQ:MXL – Get Free Report)’s share price shot up 5.2% during trading on Wednesday . The company traded as high as $71.24 and last traded at $70.6090. 740,784 shares traded hands during trading, a decline of 76% from the average session volume of 3,080,761 shares. The stock had previously closed at $67.12.
Analyst Ratings Changes
A number of research firms have issued reports on MXL. Susquehanna upped their target price on shares of MaxLinear from $45.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Stifel Nicolaus lifted their price target on shares of MaxLinear from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Morgan Stanley set a $125.00 price objective on shares of MaxLinear in a research report on Monday. Benchmark began coverage on shares of MaxLinear in a research note on Wednesday, May 27th. They set a “buy” rating and a $125.00 price objective on the stock. Finally, Northland Securities set a $110.00 target price on shares of MaxLinear in a research report on Wednesday, June 3rd. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, MaxLinear presently has a consensus rating of “Hold” and an average price target of $88.64.
Check Out Our Latest Analysis on MaxLinear
MaxLinear Price Performance
MaxLinear (NASDAQ:MXL – Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 EPS for the quarter, beating 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 company had revenue of $168.85 million during the quarter, compared to analysts’ expectations of $164.64 million. During the same quarter in the previous year, the business earned $0.02 EPS. The firm’s revenue was up 55.2% on a year-over-year basis. Sell-side analysts predict that MaxLinear, Inc will post 0.78 EPS for the current fiscal year.
Insider Transactions at MaxLinear
In related news, CEO Kishore Seendripu sold 351,454 shares of the company’s stock in a transaction that occurred on 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 7.70% of the company’s stock.
Hedge Funds Weigh In On MaxLinear
Hedge funds have recently made changes to their positions in the stock. Ameritas Advisory Services LLC purchased a new position in shares of MaxLinear in the 2nd quarter worth $32,000. Carolina Wealth Advisors LLC purchased a new stake in MaxLinear during the second quarter valued at about $47,000. Global Retirement Partners LLC acquired a new stake in MaxLinear during the second quarter worth about $56,000. State of Wyoming acquired a new stake in MaxLinear during the second quarter worth about $126,000. Finally, CoreCap Advisors LLC purchased a new position in shares of MaxLinear in the 2nd quarter worth about $134,000. 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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