MaxLinear (NASDAQ:MXL) Hits New 1-Year High - Here's Why

Key Points

• MaxLinear hit a new 52‑week high, trading as high as $22.07 (last $22.01) on volume of about 1.11M shares and trading well above its 50‑day ($18.06) and 200‑day ($17.30) moving averages.
• Q4 results topped estimates with $0.19 EPS vs. $0.18 expected and revenue of $136.44M (+48% YoY), but the company remains unprofitable (net margin -29.23%, negative ROE) and is forecast to report -$0.37 EPS for the year.
• Analyst views are mixed: the consensus rating is "Hold" with an average target of $19.57, though Benchmark raised its target to $28 with a Buy rating while Weiss reiterated a Sell.

MaxLinear, Inc (NASDAQ:MXL - Get Free Report) shares reached a new 52-week high on Thursday . The stock traded as high as $22.07 and last traded at $22.01, with a volume of 1112372 shares traded. The stock had previously closed at $21.56.

Analyst Ratings Changes

Several research firms have recently weighed in on MXL. Weiss Ratings reissued a "sell (d-)" rating on shares of MaxLinear in a research note on Thursday, January 22nd. Wells Fargo & Company increased their price target on MaxLinear from $18.00 to $20.00 and gave the company an "equal weight" rating in a research report on Friday, January 30th. Finally, Benchmark increased their price target on MaxLinear from $25.00 to $28.00 and gave the company a "buy" rating in a research report on Friday, January 16th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $19.57.

MaxLinear Stock Up 2.1%

The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -13.93 and a beta of 1.70. The business's 50 day moving average is $18.06 and its 200 day moving average is $17.30. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.92 and a current ratio of 1.34.

MaxLinear (NASDAQ:MXL - Get Free Report) last issued its earnings results on Thursday, January 29th. The semiconductor company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. The business had revenue of $136.44 million during the quarter, compared to analysts' expectations of $134.82 million. MaxLinear had a negative return on equity of 6.95% and a negative net margin of 29.23%.During the same quarter last year, the firm posted ($0.09) earnings per share. MaxLinear's revenue was up 48.0% compared to the same quarter last year. Equities analysts expect that MaxLinear, Inc will post -0.37 earnings per share for the current year.

Insider Buying and Selling

In other MaxLinear news, insider Steven G. Litchfield sold 20,000 shares of the firm's stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $15.68, for a total transaction of $313,600.00. Following the completion of the sale, the insider directly owned 343,435 shares in the company, valued at approximately $5,385,060.80. This trade represents a 5.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 44,929 shares of company stock worth $746,456. Company insiders own 7.70% of the company's stock.

Institutional Investors Weigh In On MaxLinear

A number of institutional investors have recently modified their holdings of MXL. Larson Financial Group LLC boosted its stake in shares of MaxLinear by 161.7% during the 4th quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company's stock valued at $25,000 after buying an additional 875 shares during the period. Smartleaf Asset Management LLC boosted its position in MaxLinear by 103.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 726 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in MaxLinear during the fourth quarter valued at $25,000. International Assets Investment Management LLC acquired a new stake in MaxLinear during the fourth quarter valued at $27,000. Finally, EverSource Wealth Advisors LLC boosted its position in MaxLinear by 97.0% during the third quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the semiconductor company's stock valued at $34,000 after purchasing an additional 1,039 shares during the last quarter. Institutional investors and hedge funds own 90.79% of the company's stock.

About MaxLinear

MaxLinear, Inc is a provider of radio-frequency (RF), analog, and mixed-signal integrated circuits for broadband communications, data center connectivity, and video infrastructure applications. The company's product portfolio includes high-performance RF front-end modules, broadband power amplifiers, optical and Ethernet transceivers, and network processors designed to support demanding signal processing requirements.

MaxLinear's semiconductor solutions are used by cable and satellite television operators, fiber-to-the-home service providers, network equipment manufacturers, and data center operators.

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