MaxLinear Inc. (MXL) Shares Up 2.4%
MaxLinear Inc. (NYSE:MXL) shares shot up 2.4% during mid-day trading on Thursday . The company traded as high as $18.69 and last traded at $18.61, with a volume of 575,587 shares trading hands. The stock had previously closed at $18.17.
A number of brokerages recently issued reports on MXL. Deutsche Bank AG reiterated a “buy” rating on shares of MaxLinear in a research note on Tuesday, May 10th. Stifel Nicolaus cut their price objective on MaxLinear from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, August 9th. TheStreet upgraded MaxLinear from a “hold” rating to a “buy” rating in a research note on Wednesday, May 25th. Needham & Company LLC reiterated a “buy” rating on shares of MaxLinear in a research note on Tuesday, May 10th. Finally, Zacks Investment Research upgraded MaxLinear from a “sell” rating to a “hold” rating in a research note on Friday, May 13th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $21.00.
The stock has a market cap of $1.21 billion and a price-to-earnings ratio of 33.61. The stock has a 50 day moving average of $20.06 and a 200 day moving average of $18.42.
MaxLinear (NYSE:MXL) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.50 earnings per share (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 analysts’ expectations of $101.94 million. During the same quarter in the previous year, the business earned $0.21 earnings per share. The company’s revenue for the quarter was up 43.6% compared to the same quarter last year. Equities analysts predict that MaxLinear Inc. will post $1.74 earnings per share for the current fiscal year.
In related news, VP Brendan Walsh sold 12,500 shares of MaxLinear stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 172,482 shares in the company, valued at $3,491,035.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thomas E. Pardun sold 18,000 shares of MaxLinear stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $20.39, for a total value of $367,020.00. Following the transaction, the director now owns 84,252 shares of the company’s stock, valued at $1,717,898.28. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently made changes to their positions in the stock. 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 valued at $1,161,000 after buying an additional 30,300 shares in the last quarter. Marshall Wace LLP bought a new position in shares of MaxLinear during the fourth quarter valued at $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 valued at $1,156,000 after buying an additional 10,760 shares in 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 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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