Shares of MaxLinear, Inc (NASDAQ:MXL – Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $85.98, but opened at $82.42. MaxLinear shares last traded at $85.4950, with a volume of 290,457 shares changing hands.
Analyst Ratings Changes
MXL has been the subject of several recent research reports. Morgan Stanley set a $125.00 price target on MaxLinear in a report on Monday, September 14th. Wells Fargo & Company raised their price objective on MaxLinear from $42.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, July 20th. Benchmark started coverage on shares of MaxLinear in a report on Wednesday, May 27th. They set a “buy” rating and a $125.00 price objective on the stock. Wall Street Zen upgraded shares of MaxLinear from a “hold” rating to a “buy” rating in a research note on Sunday, July 26th. Finally, Stifel Nicolaus increased their target price on shares of MaxLinear from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, July 24th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $88.64.
Check Out Our Latest Research Report on MXL
MaxLinear Price Performance
MaxLinear (NASDAQ:MXL – Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $164.64 million. During the same period last year, the business posted $0.02 earnings per share. MaxLinear’s revenue was up 55.2% on a year-over-year basis. Research analysts expect that MaxLinear, Inc will post 0.78 earnings per share for the current fiscal year.
Insider Activity
In other MaxLinear news, CEO Kishore Seendripu sold 351,454 shares of MaxLinear stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $85.95, for a total value of $30,207,471.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 7.70% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On MaxLinear
A number of large investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its stake in MaxLinear by 16.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 217 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of MaxLinear by 16.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,678 shares of the semiconductor company’s stock valued at $215,000 after purchasing an additional 232 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of MaxLinear during the second quarter valued at approximately $32,000. GAMMA Investing LLC boosted its position in shares of MaxLinear by 5.6% in the 2nd quarter. GAMMA Investing LLC now owns 6,152 shares of the semiconductor company’s stock worth $788,000 after purchasing an additional 326 shares in the last quarter. Finally, Carolina Wealth Advisors LLC bought a new stake in shares of MaxLinear in the 2nd quarter worth approximately $47,000. 90.79% of the stock is owned by institutional investors.
MaxLinear Company Profile
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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