Traders Purchase Large Volume of Call Options on MaxLinear (NASDAQ:MXL)

MaxLinear, Inc (NASDAQ:MXL) saw some unusual options trading on Monday. Traders bought 8,566 call options on the stock. This represents an increase of approximately 74% compared to the typical volume of 4,914 call options.

Analyst Ratings Changes

Several brokerages have recently issued reports on MXL. Roth Capital raised shares of MaxLinear from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Friday, April 24th. Stifel Nicolaus increased their target price on MaxLinear from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Loop Capital upgraded MaxLinear from a “hold” rating to a “buy” rating and lifted their target price for the company from $17.00 to $75.00 in a report on Wednesday, April 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a research report on Tuesday, April 21st. Finally, Benchmark assumed coverage on MaxLinear in a research note on Wednesday, May 27th. They set a “buy” rating and a $125.00 price target for the company. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, MaxLinear has an average rating of “Hold” and an average target price of $65.50.

MaxLinear Stock Up 3.7%

Shares of NASDAQ:MXL opened at $92.59 on Wednesday. The company has a market capitalization of $8.29 billion, a price-to-earnings ratio of -60.91 and a beta of 3.91. The company has a 50 day moving average of $91.78 and a two-hundred day moving average of $46.56. MaxLinear has a 52-week low of $12.77 and a 52-week high of $128.30. The company has a quick ratio of 1.12, a current ratio of 1.70 and a debt-to-equity ratio of 0.27.

MaxLinear (NASDAQ:MXL) last posted its earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. The business had revenue of $137.19 million for the quarter, compared to analysts’ expectations of $137.15 million. MaxLinear had a negative net margin of 25.96% and a negative return on equity of 2.33%. The business’s revenue for the quarter was up 43.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.05) earnings per share. As a group, analysts forecast that MaxLinear will post 0.52 earnings per share for the current fiscal year.

Insider Transactions at MaxLinear

In related news, Director Thomas E. Pardun sold 11,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $105.00, for a total transaction of $1,155,000.00. Following the completion of the transaction, the director owned 55,252 shares of the company’s stock, valued at approximately $5,801,460. This represents a 16.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Connie H. Kwong sold 35,000 shares of the company’s 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 transaction, the insider directly owned 13,947 shares of the company’s stock, valued at $1,352,301.12. This trade represents a 71.51% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 65,168 shares of company stock valued at $5,559,358. Corporate insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Larson Financial Group LLC grew 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 valued at $25,000 after purchasing an additional 875 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of MaxLinear by 103.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 726 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in shares of MaxLinear during the 4th quarter valued at approximately $25,000. International Assets Investment Management LLC purchased a new position in shares of MaxLinear during the 4th quarter valued at approximately $27,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of MaxLinear by 16.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock worth $27,000 after buying an additional 217 shares in the last quarter. Hedge funds and other institutional investors own 90.79% of the company’s stock.

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.