MaxLinear (NYSE:MXL) Trading 9.1% Higher

Shares of MaxLinear, Inc. (NYSE:MXL) rose 9.1% during trading on Thursday . The company traded as high as $12.20 and last traded at $12.19. Approximately 587,594 shares traded hands during trading, a decline of 32% from the average daily volume of 869,301 shares. The stock had previously closed at $11.17.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Craig Hallum reduced their price target on MaxLinear from $38.00 to $28.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. Benchmark decreased their price target on shares of MaxLinear from $28.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Susquehanna cut their price target on shares of MaxLinear from $30.00 to $26.00 and set a “positive” rating on the stock in a report on Thursday, July 25th. Needham & Company LLC cut shares of MaxLinear from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, Northland Securities lowered their target price on MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, MaxLinear has an average rating of “Hold” and a consensus target price of $24.67.

MaxLinear Stock Performance

The company has a market cap of $1.04 billion, a P/E ratio of -6.64 and a beta of 1.85. The firm has a 50-day moving average of $18.20 and a 200 day moving average of $19.00. The company has a current ratio of 2.09, a quick ratio of 1.59 and a debt-to-equity ratio of 0.20.

MaxLinear (NYSE:MXL) last announced its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.06). The company had revenue of $92.00 million for the quarter, compared to analyst estimates of $100.25 million. MaxLinear had a negative return on equity of 12.39% and a negative net margin of 42.38%. The business’s quarterly revenue was down 50.0% compared to the same quarter last year. During the same period last year, the business earned $0.19 EPS. On average, analysts predict that MaxLinear, Inc. will post -1.6 earnings per share for the current fiscal year.

Insider Buying and Selling at MaxLinear

In other news, CEO Kishore Seendripu purchased 108,303 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The shares were acquired at an average cost of $12.94 per share, with a total value of $1,401,440.82. Following the purchase, the chief executive officer now owns 531,937 shares in the company, valued at $6,883,264.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MXL. Headlands Technologies LLC bought a new position in MaxLinear during the 1st quarter valued at $27,000. Innealta Capital LLC bought a new position in shares of MaxLinear during the second quarter valued at about $30,000. International Assets Investment Management LLC purchased a new position in MaxLinear during the second quarter worth about $31,000. Canada Pension Plan Investment Board bought a new stake in MaxLinear in the 2nd quarter worth about $56,000. Finally, EntryPoint Capital LLC purchased a new stake in MaxLinear in the 1st quarter valued at about $59,000. Institutional investors and hedge funds own 90.79% of the company’s stock.

About MaxLinear

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.