Shares of MaxLinear, Inc (NASDAQ:MXL – Get Free Report) gapped up prior to trading on Friday. The stock had previously closed at $44.31, but opened at $49.29. MaxLinear shares last traded at $47.6890, with a volume of 546,660 shares trading hands.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on MXL shares. Wells Fargo & Company cut their price target on MaxLinear from $95.00 to $78.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 20th. Needham & Company LLC lifted their price target on MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a report on Friday, July 24th. Roth Capital lifted their price target on MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a report on Friday, July 24th. Zacks Research upgraded shares of MaxLinear from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 28th. Finally, Stifel Nicolaus raised their price objective on shares of MaxLinear from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.30.
Check Out Our Latest Research Report on MXL
MaxLinear Price Performance
The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.22. The company has a 50-day moving average of $76.55 and a 200 day moving average of $60.12. The firm has a market cap of $4.32 billion, a P/E ratio of -128.68 and a beta of 3.97.
MaxLinear (NASDAQ:MXL – Get Free Report) last posted its earnings results on Thursday, October 22nd. The semiconductor company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.06. The business had revenue of $218.06 million for the quarter, compared to analyst estimates of $214.95 million. MaxLinear had a negative net margin of 4.45% and a positive return on equity of 12.89%. The firm’s quarterly revenue was up 72.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.14 EPS. On average, sell-side analysts anticipate that MaxLinear, Inc will post 1.10 EPS for the current year.
Insider Activity at MaxLinear
In other news, CEO Kishore Seendripu sold 351,454 shares of the stock in a transaction on Monday, August 17th. The stock was 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 hyperlink. Insiders own 7.70% of the company’s stock.
Institutional Trading of MaxLinear
Several hedge funds have recently modified their holdings of the stock. Maryland State Retirement & Pension System increased its stake in shares of MaxLinear by 53.9% in the 3rd quarter. Maryland State Retirement & Pension System now owns 18,839 shares of the semiconductor company’s stock valued at $1,701,000 after buying an additional 6,596 shares during the period. Lisanti Capital Growth LLC increased its stake in MaxLinear by 91.2% in the third quarter. Lisanti Capital Growth LLC now owns 40,945 shares of the semiconductor company’s stock valued at $3,698,000 after purchasing an additional 19,535 shares in the last quarter. Ritholtz Wealth Management acquired a new stake in MaxLinear during the 3rd quarter worth $494,000. Knights of Columbus Asset Advisors LLC lifted its holdings in shares of MaxLinear by 25.4% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 24,283 shares of the semiconductor company’s stock valued at $2,193,000 after purchasing an additional 4,919 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of MaxLinear by 0.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 50,881 shares of the semiconductor company’s stock valued at $4,687,000 after buying an additional 181 shares during the period. 90.79% of the stock is owned by institutional investors.
MaxLinear Company Profile
MaxLinear, Inc is a fabless semiconductor company that designs, develops and sells integrated circuits and related solutions for broadband communications, wired and wireless infrastructure, data centers, industrial applications and consumer electronics. Its products are used by equipment manufacturers and service providers to support the transmission, processing and management of voice, video and data.
The company’s portfolio includes broadband access system-on-chip products, Ethernet transceivers and controllers, high-speed interconnect and communications devices, radio-frequency and analog products, optical and copper connectivity solutions, and power-management components.
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