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

MaxLinear, Inc (NASDAQ:MXL - Get Free Report) shares gapped up before the market opened on Thursday after Wells Fargo & Company raised their price target on the stock from $13.00 to $18.00. The stock had previously closed at $15.32, but opened at $19.80. Wells Fargo & Company currently has an equal weight rating on the stock. MaxLinear shares last traded at $17.15, with a volume of 6,109,534 shares.

Several other brokerages also recently issued reports on MXL. Roth Capital set a $11.00 target price on shares of MaxLinear and gave the company a "neutral" rating in a research note on Thursday, April 24th. 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 research report on Friday, July 18th. Benchmark lifted their price target on shares of MaxLinear from $20.00 to $25.00 and gave the stock a "buy" rating in a report on Thursday. Loop Capital cut their price target on shares of MaxLinear from $18.00 to $10.00 and set a "hold" rating for the company in a report on Tuesday, April 29th. Finally, Susquehanna lifted their target price on shares of MaxLinear from $11.00 to $15.00 and gave the stock a "neutral" rating in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $18.69.

Insider Activity at MaxLinear

In other MaxLinear news, Director Ted L. Tewksbury III sold 6,071 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $10.40, for a total value of $63,138.40. Following the completion of the transaction, the director owned 74,995 shares in the company, valued at $779,948. This represents a 7.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Aster Capital Management DIFC Ltd purchased a new stake in shares of MaxLinear during the 4th quarter worth about $34,000. Farther Finance Advisors LLC bought a new position in MaxLinear in the 2nd quarter worth approximately $44,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of MaxLinear during the 1st quarter worth approximately $49,000. Strs Ohio acquired a new stake in shares of MaxLinear during the 1st quarter worth approximately $63,000. Finally, GAMMA Investing LLC grew its holdings in shares of MaxLinear by 36.6% during the 2nd quarter. GAMMA Investing LLC now owns 5,143 shares of the semiconductor company's stock worth $73,000 after purchasing an additional 1,378 shares in the last quarter. Institutional investors own 90.79% of the company's stock.

MaxLinear Trading Up 11.5%

The company has a 50 day moving average of $13.32 and a 200 day moving average of $14.13. The company has a current ratio of 1.63, a quick ratio of 1.19 and a debt-to-equity ratio of 0.25. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -6.46 and a beta of 1.72.

MaxLinear (NASDAQ:MXL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The semiconductor company reported $0.02 EPS for the quarter, meeting analysts' consensus estimates of $0.02. The business had revenue of $108.81 million during the quarter, compared to the consensus estimate of $104.94 million. MaxLinear had a negative return on equity of 21.86% and a negative net margin of 61.63%. The firm's revenue was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.25) earnings per share. As a group, research analysts anticipate that MaxLinear, Inc will post -0.37 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.