MaxLinear Inc. (MXL) Trading Up 2.4%
MaxLinear Inc. (NYSE:MXL)’s share price was up 2.4% during trading on Thursday . The stock traded as high as $18.69 and last traded at $18.61, with a volume of 575,587 shares traded. The stock had previously closed at $18.17.
Several equities analysts recently commented on MXL shares. Needham & Company LLC reaffirmed a “buy” rating and set a $21.00 price target on shares of MaxLinear in a research report on Tuesday, August 9th. Stifel Nicolaus dropped their price target on shares of MaxLinear from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, August 9th. Zacks Investment Research raised shares of MaxLinear from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Thursday, July 21st. Deutsche Bank AG reaffirmed a “buy” rating and set a $30.00 price target (up previously from $22.00) on shares of MaxLinear in a research report on Monday, July 25th. Finally, TheStreet raised shares of MaxLinear from a “hold” rating to a “buy” rating in a research report on Wednesday, May 25th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. MaxLinear currently has a consensus rating of “Buy” and an average price target of $21.00.
The stock has a market capitalization of $1.19 billion and a price-to-earnings ratio of 32.88. The firm’s 50-day moving average is $20.01 and its 200 day moving average is $18.39.
MaxLinear (NYSE:MXL) last announced its earnings results on Monday, August 8th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.44 by $0.06. The firm earned $101.70 million during the quarter, compared to analyst estimates of $101.94 million. The business’s quarterly revenue was up 43.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.21 earnings per share. Analysts anticipate that MaxLinear Inc. will post $1.74 EPS for the current fiscal year.
In other MaxLinear news, Director Steven Craddock sold 18,770 shares of the firm’s stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $20.62, for a total value of $387,037.40. Following the completion of the transaction, the director now directly owns 85,022 shares in the company, valued at $1,753,153.64. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Brendan Walsh sold 12,500 shares of the firm’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $18.04, for a total transaction of $225,500.00. Following the completion of the transaction, the vice president now owns 162,210 shares of the company’s stock, valued at $2,926,268.40. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have recently made changes to their positions in MXL. 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 valued at $1,156,000 after buying an additional 10,760 shares during the last quarter. Trexquant Investment LP boosted its stake in MaxLinear by 62.5% in the fourth quarter. Trexquant Investment LP now owns 78,800 shares of the company’s stock valued at $1,161,000 after buying an additional 30,300 shares in the last quarter. Marshall Wace LLP bought a new stake in MaxLinear during the fourth quarter valued at approximately $1,218,000. Schwab Charles Investment Management Inc. boosted its stake in MaxLinear by 10.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 85,682 shares of the company’s stock valued at $1,263,000 after buying an additional 8,000 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in MaxLinear by 5.8% in the fourth quarter. Wells Fargo & Company MN now owns 795,138 shares of the company’s stock valued at $11,713,000 after buying an additional 43,684 shares in 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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