MaxLinear (NASDAQ:MXL) Shares Up 13.2% – What’s Next?

MaxLinear, Inc (NASDAQ:MXL) shares shot up 13.2% on Friday. The company traded as high as $100.98 and last traded at $104.2740. 668,254 shares were traded during trading, a decline of 78% from the average session volume of 3,091,964 shares. The stock had previously closed at $92.12.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxLinear in a report on Friday, July 17th. Morgan Stanley set a $125.00 target price on MaxLinear in a research report on Monday, September 14th. Stifel Nicolaus boosted their price target on MaxLinear from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Roth Capital upped their price target on shares of MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Finally, Susquehanna increased their price objective on shares of MaxLinear from $45.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $88.64.

MaxLinear Stock Up 11.1%

The company has a fifty day simple moving average of $71.78 and a 200-day simple moving average of $68.58. The company has a quick ratio of 1.15, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. The firm has a market cap of $9.28 billion, a P/E ratio of -86.11 and a beta of 3.92.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings data on Thursday, July 23rd. The semiconductor company reported $0.35 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 the consensus estimate of $164.64 million. During the same quarter last year, the company earned $0.02 earnings per share. The business’s revenue for the quarter was up 55.2% compared to the same quarter last year. On average, equities analysts anticipate that MaxLinear, Inc will post 0.78 earnings per share for the current year.

Insider Buying and Selling

In other MaxLinear news, CEO Kishore Seendripu sold 351,454 shares of MaxLinear 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 filing with the SEC, which is accessible through this link. Insiders own 7.70% of the company’s stock.

Institutional Trading of MaxLinear

Several institutional investors and hedge funds have recently modified their holdings of MXL. EverSource Wealth Advisors LLC boosted its holdings in MaxLinear by 16.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock worth $27,000 after buying an additional 217 shares during the period. Ameritas Advisory Services LLC purchased a new position in shares of MaxLinear in the second quarter valued at about $32,000. KBC Group NV purchased a new position in shares of MaxLinear in the first quarter valued at about $35,000. Carolina Wealth Advisors LLC bought a new position in shares of MaxLinear in the second quarter worth about $47,000. Finally, Global Retirement Partners LLC bought a new position in shares of MaxLinear in the second quarter worth about $56,000. 90.79% of the stock is currently owned by institutional investors.

MaxLinear Company Profile

MaxLinear, Inc is a fabless semiconductor company that develops high-performance analog and mixed-signal integrated circuits for communications and connectivity applications. Its products are designed to help equipment manufacturers process, transmit and manage data across broadband, wired and wireless infrastructure, data center, and industrial systems.

The company’s product portfolio includes broadband access and connectivity solutions, RF and microwave components, Ethernet and high-speed interconnect products, optical networking technologies, and power-management devices.