MaxLinear (NASDAQ:MXL) Trading Up 8.2% – Should You Buy?

Shares of MaxLinear, Inc. (NASDAQ:MXL) were up 8.2% during trading on Wednesday . The stock traded as high as $22.40 and last traded at $22.40. Approximately 690,672 shares were traded during trading, a decline of 45% from the average daily volume of 1,248,241 shares. The stock had previously closed at $20.70.

Analyst Ratings Changes

MXL has been the topic of several research reports. Craig Hallum reduced their price objective on MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Northland Securities raised their target price on shares of MaxLinear from $25.00 to $27.50 and gave the company an “outperform” rating in a research note on Monday, January 6th. Needham & Company LLC reiterated a “hold” rating on shares of MaxLinear in a research report on Thursday, October 24th. Wells Fargo & Company increased their price target on shares of MaxLinear from $14.00 to $19.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, Benchmark boosted their target price on MaxLinear from $22.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, MaxLinear presently has a consensus rating of “Hold” and an average price target of $24.21.

MaxLinear Stock Up 6.4 %

The firm’s 50 day moving average price is $18.35 and its two-hundred day moving average price is $16.41. The company has a market capitalization of $2.03 billion, a P/E ratio of -8.84 and a beta of 1.79. The company has a current ratio of 1.95, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%. The business had revenue of $81.10 million for the quarter, compared to analyst estimates of $80.40 million. During the same quarter in the prior year, the company earned ($0.02) earnings per share. The company’s quarterly revenue was down 40.2% on a year-over-year basis. Equities research analysts forecast that MaxLinear, Inc. will post -1.66 EPS for the current year.

Insider Transactions at MaxLinear

In related news, insider Connie H. Kwong sold 5,000 shares of MaxLinear stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $18.61, for a total transaction of $93,050.00. Following the completion of the transaction, the insider now owns 49,147 shares in the company, valued at approximately $914,625.67. This trade represents a 9.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP William Torgerson sold 6,100 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $15.40, for a total value of $93,940.00. Following the transaction, the vice president now directly owns 179,262 shares in the company, valued at approximately $2,760,634.80. This trade represents a 3.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,900 shares of company stock worth $927,278 in the last 90 days. Corporate insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On MaxLinear

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Truvestments Capital LLC acquired a new stake in shares of MaxLinear during the 3rd quarter worth about $42,000. GAMMA Investing LLC lifted its position in MaxLinear by 151.8% during the third quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 2,093 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of MaxLinear during the second quarter worth approximately $56,000. CWM LLC grew its position in shares of MaxLinear by 321.3% in the third quarter. CWM LLC now owns 5,793 shares of the semiconductor company’s stock valued at $84,000 after purchasing an additional 4,418 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in MaxLinear by 20.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 7,761 shares of the semiconductor company’s stock worth $112,000 after purchasing an additional 1,308 shares during the last quarter. 90.79% of the stock is owned by institutional investors.

About MaxLinear

MaxLinear, Inc provides communications systems-on-chip solutions worldwide. Its products integrate various portions of a high-speed communication system, including radio frequency, high-performance analog, mixed-signal, digital signal processing, security engines, data compression and networking layers, and power management.