MaxLinear (NASDAQ:MXL) Stock Price Up 6.1% – Still a Buy?

Shares of MaxLinear, Inc. (NASDAQ:MXL) rose 6.1% during mid-day trading on Thursday . The stock traded as high as $15.59 and last traded at $15.59. Approximately 45,914 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 994,047 shares. The stock had previously closed at $14.69.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Craig Hallum lowered their target price on MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Wells Fargo & Company started coverage on MaxLinear in a research report on Friday. They issued an “equal weight” rating and a $14.00 price objective on the stock. Benchmark reaffirmed a “buy” rating and set a $22.00 target price on shares of MaxLinear in a report on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a report on Thursday, October 24th. Finally, Susquehanna cut shares of MaxLinear from a “positive” rating to a “neutral” rating and cut their price objective for the company from $26.00 to $15.00 in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $22.29.

MaxLinear Trading Down 1.3 %

The company’s fifty day simple moving average is $14.37 and its 200-day simple moving average is $16.29. The firm has a market capitalization of $1.31 billion, a PE ratio of -5.71 and a beta of 1.85. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.95 and a quick ratio of 1.38.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. The company had revenue of $81.10 million during the quarter, compared to analysts’ expectations of $80.40 million. During the same period in the prior year, the business posted ($0.02) earnings per share. The company’s quarterly revenue was down 40.2% compared to the same quarter last year. As a group, sell-side analysts expect that MaxLinear, Inc. will post -1.66 earnings per share for the current fiscal year.

Insider Transactions at MaxLinear

In related news, VP William Torgerson sold 6,100 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $15.40, for a total transaction 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. The trade was a 3.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Simplicity Wealth LLC increased its holdings in shares of MaxLinear by 3.1% in the second quarter. Simplicity Wealth LLC now owns 19,283 shares of the semiconductor company’s stock valued at $388,000 after purchasing an additional 579 shares during the last quarter. ProShare Advisors LLC grew its holdings in MaxLinear by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 15,304 shares of the semiconductor company’s stock valued at $286,000 after buying an additional 1,061 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of MaxLinear by 3.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 38,000 shares of the semiconductor company’s stock worth $765,000 after acquiring an additional 1,100 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of 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 acquiring an additional 1,308 shares during the period. Finally, Innealta Capital LLC acquired a new position in shares of MaxLinear during the 2nd quarter valued at about $30,000. 90.79% of the stock is owned by hedge funds and other 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.