MaxLinear (NASDAQ:MXL) Issues Earnings Results, Beats Estimates By $0.02 EPS

MaxLinear (NASDAQ:MXL) posted its quarterly earnings results on Thursday. The semiconductor company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02, FiscalAI reports. MaxLinear had a negative net margin of 25.96% and a negative return on equity of 2.33%. The business had revenue of $168.85 million for the quarter, compared to analysts’ expectations of $164.64 million.

MaxLinear Stock Performance

MaxLinear stock traded up $4.44 during trading hours on Thursday, reaching $91.24. 6,550,888 shares of the company were exchanged, compared to its average volume of 3,159,586. MaxLinear has a 12 month low of $12.77 and a 12 month high of $128.30. 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 stock has a 50-day moving average of $90.53 and a 200 day moving average of $49.22. The firm has a market cap of $8.17 billion, a price-to-earnings ratio of -60.03 and a beta of 3.91.

Wall Street Analysts Forecast Growth

MXL has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $40.00 target price on shares of MaxLinear in a research note on Friday, April 24th. Roth Capital upgraded MaxLinear from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a report on Friday, April 24th. Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a report on Friday, July 17th. Wall Street Zen lowered shares of MaxLinear from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Finally, Wells Fargo & Company lifted their target price on shares of MaxLinear from $42.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $71.00.

Insiders Place Their Bets

In related news, insider Connie H. Kwong sold 35,000 shares of the company’s stock in a transaction on Friday, May 8th. The shares were 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas E. Pardun sold 11,000 shares of the company’s stock in a transaction dated 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 sale, the director owned 55,252 shares of the company’s stock, valued at $5,801,460. This trade represents a 16.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 65,168 shares of company stock valued at $5,559,358 over the last 90 days. 7.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MXL. Northwestern Mutual Wealth Management Co. acquired a new position in shares of MaxLinear in the 4th quarter valued at $25,000. Smartleaf Asset Management LLC lifted its position in shares of 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 buying an additional 726 shares during the period. Quarry LP lifted its position in shares of MaxLinear by 1,293.0% during the 3rd quarter. Quarry LP now owns 2,187 shares of the semiconductor company’s stock worth $35,000 after buying an additional 2,030 shares during the period. Raymond James Financial Inc. acquired a new stake in MaxLinear in the 2nd quarter valued at $51,000. Finally, iSAM Funds UK Ltd bought a new stake in MaxLinear in the third quarter valued at $58,000. 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.