MaxLinear (NASDAQ:MXL) Trading 4.5% Higher - Here's What Happened

MaxLinear, Inc. (NASDAQ:MXL - Get Free Report)'s stock price traded up 4.5% on Tuesday . The stock traded as high as $10.46 and last traded at $10.35. 328,486 shares were traded during mid-day trading, a decline of 76% from the average session volume of 1,368,348 shares. The stock had previously closed at $9.90.

Analyst Ratings Changes

Several brokerages have commented on MXL. Susquehanna dropped their price target on shares of MaxLinear from $25.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, January 30th. Wells Fargo & Company raised their target price on MaxLinear from $19.00 to $20.00 and gave the company an "equal weight" rating in a research report on Thursday, January 30th. Needham & Company LLC reiterated a "hold" rating on shares of MaxLinear in a research report on Thursday, January 30th. Stifel Nicolaus lowered their price target on MaxLinear from $26.00 to $16.00 and set a "buy" rating on the stock in a report on Thursday. Finally, Benchmark lowered their target price on shares of MaxLinear from $28.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $22.36.

MaxLinear Stock Performance

The company has a current ratio of 1.77, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24. The company's 50-day moving average price is $12.71 and its two-hundred day moving average price is $15.86. The company has a market cap of $864.96 million, a P/E ratio of -3.49 and a beta of 1.82.

MaxLinear (NASDAQ:MXL - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported ($0.27) earnings per share for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.14). MaxLinear had a negative net margin of 68.01% and a negative return on equity of 21.94%. As a group, equities analysts forecast that MaxLinear, Inc. will post -0.37 earnings per share for the current year.

Hedge Funds Weigh In On MaxLinear

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MXL. Aster Capital Management DIFC Ltd purchased a new stake in shares of MaxLinear in the fourth quarter valued at $34,000. Pacer Advisors Inc. lifted its stake in MaxLinear by 29.0% in the 4th quarter. Pacer Advisors Inc. now owns 1,968 shares of the semiconductor company's stock worth $39,000 after acquiring an additional 443 shares in the last quarter. R Squared Ltd acquired a new stake in MaxLinear during the 4th quarter worth about $45,000. Wealthfront Advisers LLC purchased a new position in MaxLinear during the 4th quarter valued at about $45,000. Finally, Larson Financial Group LLC increased its holdings in shares of MaxLinear by 3,092.0% in the 4th quarter. Larson Financial Group LLC now owns 2,809 shares of the semiconductor company's stock valued at $56,000 after purchasing an additional 2,721 shares during the period. Institutional investors and hedge funds own 90.79% of the company's stock.

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.