MaxLinear (NASDAQ:MXL) Hits New 1-Year High – What’s Next?

MaxLinear, Inc (NASDAQ:MXL) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $106.28 and last traded at $100.26, with a volume of 1008394 shares traded. The stock had previously closed at $99.16.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MXL. Needham & Company LLC upgraded shares of MaxLinear from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Friday, April 24th. Northland Securities set a $55.00 price target on shares of MaxLinear in a research report on Friday, April 24th. Susquehanna reissued a “neutral” rating and set a $30.00 price objective on shares of MaxLinear in a report on Monday, April 20th. Roth Mkm raised MaxLinear from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Friday, April 24th. Finally, Benchmark started coverage on MaxLinear in a report on Tuesday, May 12th. They set a “buy” rating and a $28.00 price objective for the company. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $44.20.

MaxLinear Price Performance

The stock has a market capitalization of $8.14 billion, a P/E ratio of -59.80 and a beta of 3.95. The company has a current ratio of 1.70, a quick ratio of 1.12 and a debt-to-equity ratio of 0.27. The company has a fifty day simple moving average of $46.14 and a two-hundred day simple moving average of $27.52.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. The company had revenue of $137.19 million during the quarter, compared to analysts’ expectations of $137.15 million. MaxLinear had a negative return on equity of 2.33% and a negative net margin of 25.96%.MaxLinear’s revenue was up 43.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.05) EPS. Sell-side analysts expect that MaxLinear, Inc will post 0.52 EPS for the current fiscal year.

Insider Transactions at MaxLinear

In related news, insider Connie H. Kwong sold 35,000 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $96.96, for a total transaction of $3,393,600.00. Following the completion of the sale, the insider directly owned 13,947 shares of the company’s stock, valued at approximately $1,352,301.12. This represents a 71.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven G. Litchfield sold 20,000 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $15.68, for a total value of $313,600.00. Following the sale, the insider directly owned 343,435 shares of the company’s stock, valued at approximately $5,385,060.80. The trade was a 5.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 99,097 shares of company stock valued at $5,150,815. 7.70% of the stock is currently owned by company insiders.

Institutional Trading of MaxLinear

A number of large investors have recently bought and sold shares of MXL. Larson Financial Group LLC increased its stake in MaxLinear by 161.7% during the 4th quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 875 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in MaxLinear by 103.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 726 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in MaxLinear during the 4th quarter worth approximately $25,000. International Assets Investment Management LLC acquired a new position in MaxLinear during the 4th quarter worth approximately $27,000. Finally, EverSource Wealth Advisors LLC boosted its position in MaxLinear by 16.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 217 shares during the last quarter. 90.79% of the stock is owned by institutional investors.

MaxLinear Company Profile

MaxLinear, Inc is a provider of radio-frequency (RF), analog, and mixed-signal integrated circuits for broadband communications, data center connectivity, and video infrastructure applications. The company’s product portfolio includes high-performance RF front-end modules, broadband power amplifiers, optical and Ethernet transceivers, and network processors designed to support demanding signal processing requirements.

MaxLinear’s semiconductor solutions are used by cable and satellite television operators, fiber-to-the-home service providers, network equipment manufacturers, and data center operators.