MaxLinear (NASDAQ:MXL) Trading 22.6% Higher – Still a Buy?

Shares of MaxLinear, Inc. (NASDAQ:MXL) shot up 22.6% on Wednesday . The stock traded as high as $11.37 and last traded at $11.22. 904,595 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 1,912,997 shares. The stock had previously closed at $9.15.

Analysts Set New Price Targets

MXL has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a research note on Thursday, January 30th. Northland Securities boosted their price target on MaxLinear from $25.00 to $27.50 and gave the company an “outperform” rating in a research note on Monday, January 6th. Susquehanna reduced their price objective on shares of MaxLinear from $25.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Wells Fargo & Company lifted their price objective on shares of MaxLinear from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Finally, Benchmark reissued a “buy” rating and set a $28.00 target price on shares of MaxLinear in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $25.50.

MaxLinear Stock Performance

The stock has a market cap of $952.13 million, a price-to-earnings ratio of -3.84 and a beta of 1.82. The company’s fifty day simple moving average is $14.01 and its two-hundred day simple moving average is $16.13. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.77 and a quick ratio of 1.28.

MaxLinear (NASDAQ:MXL) last posted its earnings results on Wednesday, January 29th. The semiconductor company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.14). MaxLinear had a negative return on equity of 21.94% and a negative net margin of 68.01%. On average, analysts forecast that MaxLinear, Inc. will post -0.37 earnings per share for the current year.

Institutional Trading of MaxLinear

Several institutional investors have recently made changes to their positions in MXL. Aster Capital Management DIFC Ltd purchased a new position in MaxLinear in the fourth quarter worth $34,000. Pacer Advisors Inc. boosted its holdings in shares of MaxLinear by 29.0% in the 4th quarter. Pacer Advisors Inc. now owns 1,968 shares of the semiconductor company’s stock worth $39,000 after buying an additional 443 shares during the last quarter. R Squared Ltd purchased a new position in shares of MaxLinear in the 4th quarter worth about $45,000. Wealthfront Advisers LLC bought a new position in MaxLinear during the fourth quarter valued at about $45,000. Finally, Larson Financial Group LLC increased its holdings in MaxLinear by 3,092.0% during the fourth quarter. Larson Financial Group LLC now owns 2,809 shares of the semiconductor company’s stock worth $56,000 after buying an additional 2,721 shares during the last quarter. Institutional investors own 90.79% of the company’s stock.

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.