MaxLinear (NASDAQ:MXL) Stock Price Up 5.8% – Still a Buy?

MaxLinear, Inc. (NASDAQ:MXL) shares traded up 5.8% during mid-day trading on Tuesday . The stock traded as high as $19.80 and last traded at $20.14. 338,386 shares were traded during mid-day trading, a decline of 79% from the average session volume of 1,607,933 shares. The stock had previously closed at $19.04.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Susquehanna boosted their price target on MaxLinear from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Needham & Company LLC restated a “hold” rating on shares of MaxLinear in a report on Thursday. Craig Hallum lowered their price target on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Benchmark raised their target price on shares of MaxLinear from $22.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Northland Securities upped their price target on shares of MaxLinear from $25.00 to $27.50 and gave the stock an “outperform” rating in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $25.64.

MaxLinear Price Performance

The business’s 50 day simple moving average is $19.77 and its 200-day simple moving average is $16.43. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of -8.01 and a beta of 1.79. The company has a quick ratio of 1.38, a current ratio of 1.95 and a debt-to-equity ratio of 0.22.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.14). MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. On average, research analysts forecast that MaxLinear, Inc. will post -1.66 earnings per share for the current year.

Insider Activity at MaxLinear

In other news, insider Steven G. Litchfield sold 32,000 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $20.35, for a total transaction of $651,200.00. Following the completion of the sale, the insider now directly owns 365,868 shares in the company, valued at $7,445,413.80. This represents a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ted L. Tewksbury III sold 5,800 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $15.36, for a total transaction of $89,088.00. Following the completion of the transaction, the director now owns 69,717 shares in the company, valued at approximately $1,070,853.12. The trade was a 7.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,900 shares of company stock valued at $927,278 over the last ninety days. 8.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MaxLinear

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vaughan Nelson Investment Management L.P. purchased a new position in MaxLinear during the third quarter worth about $16,696,000. Assenagon Asset Management S.A. increased its position in MaxLinear by 339.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,250,769 shares of the semiconductor company’s stock worth $24,740,000 after buying an additional 966,468 shares during the last quarter. Millennium Management LLC raised its stake in shares of MaxLinear by 307.9% in the second quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company’s stock valued at $21,039,000 after buying an additional 788,558 shares during the period. FMR LLC lifted its position in shares of MaxLinear by 184.5% during the 3rd quarter. FMR LLC now owns 456,929 shares of the semiconductor company’s stock valued at $6,616,000 after buying an additional 296,339 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of MaxLinear by 36.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,089,065 shares of the semiconductor company’s stock worth $15,770,000 after acquiring an additional 291,874 shares during the period. 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.