MaxLinear (NASDAQ:MXL) Shares Gap Up Following Analyst Upgrade

Shares of MaxLinear, Inc (NASDAQ:MXL - Get Free Report) gapped up before the market opened on Thursday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. The stock had previously closed at $15.32, but opened at $19.80. MaxLinear shares last traded at $17.15, with a volume of 6,109,534 shares traded.

MXL has been the topic of a number of other reports. Benchmark boosted their target price on shares of MaxLinear from $20.00 to $25.00 and gave the stock a "buy" rating in a report on Thursday. Stifel Nicolaus boosted their target price on shares of MaxLinear from $16.00 to $18.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Loop Capital dropped their target price on shares of MaxLinear from $18.00 to $10.00 and set a "hold" rating on the stock in a report on Tuesday, April 29th. Roth Capital set a $11.00 target price on shares of MaxLinear and gave the stock a "neutral" rating in a report on Thursday, April 24th. Finally, Wells Fargo & Company boosted their target price on shares of MaxLinear from $13.00 to $18.00 and gave the stock an "equal weight" rating in a report on Thursday. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, MaxLinear presently has an average rating of "Moderate Buy" and a consensus target price of $18.69.

Insider Activity

In related news, Director Ted L. Tewksbury III sold 6,071 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $10.40, for a total transaction of $63,138.40. Following the transaction, the director directly owned 74,995 shares of the company's stock, valued at approximately $779,948. The trade was a 7.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 7.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in MaxLinear by 5.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 147,210 shares of the semiconductor company's stock valued at $2,912,000 after purchasing an additional 7,711 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of MaxLinear by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 384,677 shares of the semiconductor company's stock worth $4,178,000 after buying an additional 9,955 shares during the period. GAMMA Investing LLC boosted its holdings in shares of MaxLinear by 889.1% during the 1st quarter. GAMMA Investing LLC now owns 40,888 shares of the semiconductor company's stock worth $444,000 after buying an additional 36,754 shares during the period. First Trust Advisors LP bought a new stake in shares of MaxLinear during the 4th quarter worth $280,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of MaxLinear during the 1st quarter worth $266,000. 90.79% of the stock is owned by hedge funds and other institutional investors.

MaxLinear Trading Up 2.3%

The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of -6.78 and a beta of 1.72. The company's 50 day moving average is $13.49 and its 200 day moving average is $14.00. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.14 and a current ratio of 1.55.

MaxLinear (NASDAQ:MXL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The semiconductor company reported $0.02 EPS for the quarter, meeting the consensus estimate of $0.02. The firm had revenue of $108.81 million during the quarter, compared to analysts' expectations of $104.94 million. MaxLinear had a negative net margin of 55.53% and a negative return on equity of 18.16%. The business's quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.25) EPS. On average, research analysts forecast that MaxLinear, Inc will post -0.37 EPS for the current fiscal year.

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.