MaxLinear (NASDAQ:MXL) Trading 6.1% Higher – Time to Buy?

MaxLinear, Inc (NASDAQ:MXL) shares traded up 6.1% during mid-day trading on Wednesday . The stock traded as high as $70.31 and last traded at $70.5860. 860,805 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 3,095,211 shares. The stock had previously closed at $66.50.

Analysts Set New Price Targets

Several brokerages recently weighed in on MXL. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxLinear in a report on Friday, July 17th. Wells Fargo & Company increased their price objective on MaxLinear from $42.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, July 20th. Wall Street Zen upgraded MaxLinear from a “hold” rating to a “buy” rating in a research note on Sunday, July 26th. Needham & Company LLC increased their price target on shares of MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Finally, Roth Capital raised their price objective on shares of MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $85.00.

MaxLinear Stock Performance

The company has a market cap of $6.29 billion, a PE ratio of -58.27 and a beta of 3.93. The stock has a 50 day simple moving average of $73.18 and a two-hundred day simple moving average of $61.70. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.15.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The firm had revenue of $168.85 million for the quarter, compared to analyst estimates of $164.64 million. MaxLinear had a positive return on equity of 2.24% and a negative net margin of 18.24%.The business’s revenue was up 55.2% on a year-over-year basis. During the same quarter last year, the company posted $0.02 earnings per share. Equities analysts predict that MaxLinear, Inc will post 0.78 EPS for the current year.

Insider Buying and Selling at MaxLinear

In other news, CEO Kishore Seendripu sold 351,454 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $85.95, for a total value of $30,207,471.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 7.70% of the stock is currently owned by company insiders.

Institutional Trading of MaxLinear

Institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its stake 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 valued at $27,000 after purchasing an additional 217 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in MaxLinear by 16.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,678 shares of the semiconductor company’s stock worth $215,000 after buying an additional 232 shares during the period. Ameritas Advisory Services LLC purchased a new stake in MaxLinear during the 2nd quarter worth $32,000. GAMMA Investing LLC lifted its holdings in MaxLinear by 5.6% in the 2nd quarter. GAMMA Investing LLC now owns 6,152 shares of the semiconductor company’s stock worth $788,000 after buying an additional 326 shares in the last quarter. Finally, Carolina Wealth Advisors LLC purchased a new position in MaxLinear in the 2nd quarter valued at about $47,000. Hedge funds and other institutional investors own 90.79% of the company’s stock.

About MaxLinear

MaxLinear, Inc is a fabless semiconductor company that designs and develops high-performance analog and mixed-signal integrated circuits. Its products are used in broadband communications, wired and wireless infrastructure, data center, networking, and industrial applications.

The company’s portfolio includes solutions for broadband access and connectivity, including cable and fiber-optic infrastructure, Ethernet and high-speed interconnects, optical communications, power management, interface products, and embedded processors.