MaxLinear (NASDAQ:MXL) Trading Up 5.3% – Time to Buy?

MaxLinear, Inc. (NASDAQ:MXL) shares traded up 5.3% during trading on Wednesday . The company traded as high as $20.64 and last traded at $20.58. 377,115 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 1,040,636 shares. The stock had previously closed at $19.55.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MXL shares. Needham & Company LLC restated a “hold” rating on shares of MaxLinear in a research report on Thursday, October 24th. Susquehanna downgraded MaxLinear from a “positive” rating to a “neutral” rating and lowered their price objective for the company from $26.00 to $15.00 in a research note on Tuesday, October 1st. Wells Fargo & Company began coverage on shares of MaxLinear in a research report on Friday, November 22nd. They set an “equal weight” rating and a $14.00 target price on the stock. Benchmark boosted their target price on shares of MaxLinear from $22.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Craig Hallum dropped their price target on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $23.14.

MaxLinear Stock Performance

The company has a current ratio of 1.95, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average price of $15.88 and a two-hundred day moving average price of $16.14. The stock has a market capitalization of $1.61 billion, a P/E ratio of -7.01 and a beta of 1.87.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). The business had revenue of $81.10 million for the quarter, compared to the consensus estimate of $80.40 million. MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%. MaxLinear’s quarterly revenue was down 40.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.02) earnings per share. On average, equities analysts forecast that MaxLinear, Inc. will post -1.66 earnings per share for the current year.

Insider Activity

In related news, insider Connie H. Kwong sold 5,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $18.61, for a total value of $93,050.00. Following the sale, the insider now owns 49,147 shares in the company, valued at $914,625.67. This represents a 9.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ted L. Tewksbury III sold 5,800 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $15.36, for a total transaction of $89,088.00. Following the completion of the transaction, the director now directly owns 69,717 shares in the company, valued at approximately $1,070,853.12. The trade was a 7.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,900 shares of company stock worth $927,278. Company insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. State Street Corp boosted its stake in shares of MaxLinear by 5.1% in the 3rd quarter. State Street Corp now owns 4,123,419 shares of the semiconductor company’s stock worth $59,707,000 after buying an additional 198,791 shares during the last quarter. Bank of New York Mellon Corp grew its stake in MaxLinear by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,535,449 shares of the semiconductor company’s stock valued at $51,064,000 after purchasing an additional 128,585 shares during the period. Dimensional Fund Advisors LP increased its position in shares of MaxLinear by 10.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,071,183 shares of the semiconductor company’s stock valued at $41,714,000 after purchasing an additional 192,021 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of MaxLinear by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,805,722 shares of the semiconductor company’s stock worth $26,152,000 after purchasing an additional 6,420 shares during the period. Finally, Hood River Capital Management LLC bought a new stake in shares of MaxLinear during the 2nd quarter worth $24,184,000. Institutional investors own 90.79% of the company’s stock.

MaxLinear Company Profile

MaxLinear, Inc provides communications systems-on-chip solutions worldwide. Its products integrate various portions of a high-speed communication system, including radio frequency, high-performance analog, mixed-signal, digital signal processing, security engines, data compression and networking layers, and power management.