MaxLinear Inc. (MXL) Sets New 12-Month High at $21.15
MaxLinear Inc. (NYSE:MXL) reached a new 52-week high during trading on Monday . The stock traded as high as $21.15 and last traded at $20.85, with a volume of 757,124 shares traded. The stock had previously closed at $20.53.
MXL has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating on shares of MaxLinear in a research report on Tuesday, May 10th. Deutsche Bank AG reiterated a “buy” rating on shares of MaxLinear in a research report on Tuesday, May 10th. Stifel Nicolaus reiterated a “buy” rating and set a $24.00 target price (up previously from $22.00) on shares of MaxLinear in a research report on Monday, April 11th. TheStreet upgraded MaxLinear from a “hold” rating to a “buy” rating in a research report on Wednesday, May 25th. Finally, Zacks Investment Research upgraded MaxLinear from a “sell” rating to a “hold” rating in a research report on Friday, May 13th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $19.56.
The stock has a 50 day moving average price of $19.50 and a 200 day moving average price of $17.35. The company’s market capitalization is $1.32 billion.
MaxLinear (NYSE:MXL) last posted its earnings results on Monday, May 9th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.45 by $0.02. During the same quarter in the prior year, the business earned $0.09 earnings per share. The business earned $102.70 million during the quarter, compared to analyst estimates of $102.16 million. The firm’s revenue was up 190.1% compared to the same quarter last year. On average, analysts anticipate that MaxLinear Inc. will post $1.63 earnings per share for the current fiscal year.
In other news, VP Brendan Walsh sold 12,500 shares of MaxLinear stock in a transaction on Friday, June 10th. The stock was sold at an average price of $20.24, for a total transaction of $253,000.00. Following the transaction, the vice president now directly owns 172,482 shares in the company, valued at approximately $3,491,035.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Michael J. Lachance sold 30,000 shares of MaxLinear stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $19.45, for a total value of $583,500.00. Following the transaction, the vice president now owns 71,396 shares in the company, valued at $1,388,652.20. The disclosure for this sale can be found here.
Several institutional investors have recently modified their holdings of MXL. Deere & Co. boosted its position in shares of MaxLinear by 0.7% in the fourth quarter. Deere & Co. now owns 141,379 shares of the company’s stock valued at $2,083,000 after buying an additional 961 shares during the period. California State Teachers Retirement System boosted its position in shares of MaxLinear by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 95,781 shares of the company’s stock valued at $1,411,000 after buying an additional 1,639 shares during the period. Engineers Gate Manager LP purchased a new position in shares of MaxLinear during the fourth quarter valued at about $1,457,000. American Century Companies Inc. purchased a new position in shares of MaxLinear during the fourth quarter valued at about $2,968,000. Finally, Turner Investments L.P. boosted its position in shares of MaxLinear by 314.3% in the fourth quarter. Turner Investments L.P. now owns 145,000 shares of the company’s stock valued at $2,136,000 after buying an additional 110,000 shares during the period.
MaxLinear, Inc is a provider of integrated, radio-frequency (RF) and mixed-signal integrated circuits for broadband communications and data center, metro, and long-haul transport network applications. The Company offers semiconductor products, such as RF Receivers, RF Receiver systems-on-chip (SoCs), Laser Modulator Drivers, Transimpedance Amplifiers, and Clock and Data Recovery Circuits.
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