MaxLinear (NASDAQ:MXL) Trading Up 8.4% - What's Next?

MaxLinear, Inc (NASDAQ:MXL - Get Free Report) rose 8.4% on Thursday . The stock traded as high as $15.68 and last traded at $15.81. Approximately 604,490 shares changed hands during trading, a decline of 59% from the average daily volume of 1,487,433 shares. The stock had previously closed at $14.58.

Analyst Upgrades and Downgrades

MXL has been the subject of a number of recent analyst reports. Loop Capital reduced their price target on shares of MaxLinear from $18.00 to $10.00 and set a "hold" rating for the company in a research report on Tuesday, April 29th. Benchmark reissued a "buy" rating and issued a $20.00 price target on shares of MaxLinear in a report on Thursday, April 24th. Roth Capital set a $11.00 target price on shares of MaxLinear and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Stifel Nicolaus raised their price target on MaxLinear from $16.00 to $18.00 and gave the company a "buy" rating in a research report on Friday. Finally, Wells Fargo & Company set a $13.00 price target on MaxLinear and gave the stock an "equal weight" rating in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, MaxLinear presently has an average rating of "Hold" and an average price target of $18.44.

MaxLinear Stock Up 3.9%

The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 1.63. The stock has a market cap of $1.37 billion, a PE ratio of -6.16 and a beta of 1.72. The company's 50-day moving average price is $13.15 and its 200 day moving average price is $14.19.

MaxLinear (NASDAQ:MXL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported ($0.05) EPS for the quarter, hitting analysts' consensus estimates of ($0.05). MaxLinear had a negative return on equity of 21.86% and a negative net margin of 61.63%. The company had revenue of $95.93 million for the quarter, compared to analysts' expectations of $95.32 million. During the same period in the previous year, the firm earned ($0.21) EPS. The firm's revenue was up .7% compared to the same quarter last year. As a group, analysts forecast that MaxLinear, Inc will post -0.37 EPS for the current fiscal year.

Insider Transactions at MaxLinear

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

Institutional Investors Weigh In On MaxLinear

A number of institutional investors and hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its position in MaxLinear by 48.2% during the first quarter. The Manufacturers Life Insurance Company now owns 2,260,392 shares of the semiconductor company's stock valued at $24,548,000 after acquiring an additional 734,973 shares in the last quarter. Invesco Ltd. lifted its stake in shares of MaxLinear by 414.8% in the 1st quarter. Invesco Ltd. now owns 1,684,247 shares of the semiconductor company's stock valued at $18,291,000 after purchasing an additional 1,357,093 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of MaxLinear by 3,698.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,525,419 shares of the semiconductor company's stock worth $30,173,000 after acquiring an additional 1,485,256 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of MaxLinear during the 4th quarter worth about $25,659,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of MaxLinear during the 4th quarter worth approximately $25,027,000. 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.