MaxLinear (NYSE:MXL) Trading Up 9.1%

MaxLinear, Inc. (NYSE:MXL) shares traded up 9.1% on Thursday . The stock traded as high as $12.20 and last traded at $12.19. 587,594 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 869,301 shares. The stock had previously closed at $11.17.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Northland Securities decreased their target price on MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Needham & Company LLC lowered shares of MaxLinear from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Stifel Nicolaus boosted their target price on shares of MaxLinear from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. StockNews.com downgraded MaxLinear from a “hold” rating to a “sell” rating in a research report on Thursday, April 25th. Finally, Benchmark reduced their price objective on MaxLinear from $28.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $24.67.

MaxLinear Stock Performance

The company has a 50 day moving average of $18.20 and a 200 day moving average of $19.00. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -6.64 and a beta of 1.85. The company has a current ratio of 2.09, a quick ratio of 1.59 and a debt-to-equity ratio of 0.20.

MaxLinear (NYSE:MXL) last issued its earnings results on Wednesday, July 24th. The semiconductor company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.06). The firm had revenue of $92.00 million during the quarter, compared to analyst estimates of $100.25 million. MaxLinear had a negative net margin of 42.38% and a negative return on equity of 12.39%. The firm’s revenue for the quarter was down 50.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.19 EPS. As a group, research analysts anticipate that MaxLinear, Inc. will post -1.6 EPS for the current year.

Insider Transactions at MaxLinear

In other MaxLinear news, CEO Kishore Seendripu purchased 108,303 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was purchased at an average cost of $12.94 per share, with a total value of $1,401,440.82. Following the acquisition, the chief executive officer now directly owns 531,937 shares of the company’s stock, valued at approximately $6,883,264.78. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On MaxLinear

Several hedge funds and other institutional investors have recently made changes to their positions in MXL. Nisa Investment Advisors LLC raised its position in shares of MaxLinear by 8.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,310 shares of the semiconductor company’s stock valued at $150,000 after acquiring an additional 490 shares during the last quarter. Simplicity Wealth LLC boosted its holdings in MaxLinear by 3.1% during the second quarter. Simplicity Wealth LLC now owns 19,283 shares of the semiconductor company’s stock worth $388,000 after buying an additional 579 shares during the last quarter. New York State Common Retirement Fund grew its position in shares of MaxLinear by 2.8% during the 4th quarter. New York State Common Retirement Fund now owns 31,045 shares of the semiconductor company’s stock worth $738,000 after buying an additional 840 shares during the period. ProShare Advisors LLC increased its stake in shares of 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 acquiring an additional 1,061 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its position 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 valued at $765,000 after acquiring an additional 1,100 shares during the period. 90.79% of the stock is owned by institutional investors and hedge funds.

MaxLinear Company Profile

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.