MaxLinear Inc. (MXL) Trading 3.4% Higher
MaxLinear Inc. (NYSE:MXL)’s share price traded up 3.4% during mid-day trading on Wednesday . The stock traded as high as $18.35 and last traded at $17.89, with a volume of 2,321,542 shares. The stock had previously closed at $17.30.
Several equities analysts recently issued reports on the company. Deutsche Bank AG reissued a “buy” rating on shares of MaxLinear in a research note on Tuesday, May 10th. Stifel Nicolaus decreased their target price on MaxLinear from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday. TheStreet raised MaxLinear from a “hold” rating to a “buy” rating in a research note on Wednesday, May 25th. Needham & Company LLC reissued a “buy” rating on shares of MaxLinear in a research note on Tuesday, May 10th. Finally, Zacks Investment Research lowered MaxLinear from a “hold” rating to a “sell” rating in a research note on Saturday, April 23rd. Eleven investment analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average price target of $21.00.
The company’s 50-day moving average price is $19.96 and its 200-day moving average price is $18.13. The firm has a market cap of $1.14 billion and a price-to-earnings ratio of 31.90.
MaxLinear (NYSE:MXL) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.06. The business earned $101.70 million during the quarter, compared to analysts’ expectations of $101.94 million. During the same period in the prior year, the firm earned $0.21 EPS. MaxLinear’s revenue for the quarter was up 43.6% on a year-over-year basis. Analysts forecast that MaxLinear Inc. will post $1.67 earnings per share for the current year.
In related 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 value of $253,000.00. Following the transaction, the vice president now owns 172,482 shares in the company, valued at $3,491,035.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Connie H. Kwong sold 3,796 shares of MaxLinear stock in a transaction on Thursday, May 26th. The shares were sold at an average price of $19.99, for a total value of $75,882.04. Following the completion of the transaction, the insider now owns 2,470 shares in the company, valued at approximately $49,375.30. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently modified their holdings of the stock. Argent Capital Management LLC boosted its position in shares of MaxLinear by 16.0% in the fourth quarter. Argent Capital Management LLC now owns 237,900 shares of the company’s stock worth $3,504,000 after buying an additional 32,750 shares during the last quarter. Trexquant Investment LP boosted its position in shares of MaxLinear by 62.5% in the fourth quarter. Trexquant Investment LP now owns 78,800 shares of the company’s stock worth $1,161,000 after buying an additional 30,300 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of MaxLinear during the fourth quarter worth $1,218,000. Victory Capital Management Inc. boosted its position in shares of MaxLinear by 15.9% in the fourth quarter. Victory Capital Management Inc. now owns 78,491 shares of the company’s stock worth $1,156,000 after buying an additional 10,760 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of MaxLinear by 5.8% in the fourth quarter. Wells Fargo & Company MN now owns 795,138 shares of the company’s stock worth $11,713,000 after buying an additional 43,684 shares during the last quarter.
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’s RF receiver products capture and process digital and analog broadband signals to be decoded for various applications.
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