MaxLinear (NASDAQ:MXL) Stock Price Up 7.4% - Here's Why

Key Points

• MaxLinear shares rose 7.4% to about $71.36 in mid-day trading, although volume was 71% below the average session level.
• Analyst views remain mixed: Stifel Nicolaus and Roth Capital raised their price targets and maintained “Buy” ratings, while the overall consensus is “Hold” with a $94.30 target.
• The company beat quarterly expectations, reporting $0.62 EPS versus $0.56 expected and $218.06 million in revenue, up 72.4% year over year.

MaxLinear, Inc (NASDAQ:MXL - Get Free Report) traded up 7.4% during mid-day trading on Tuesday. The company traded as high as $70.74 and last traded at $71.3560. Approximately 896,697 shares were traded during trading, a decline of 71% from the average session volume of 3,143,697 shares. The stock had previously closed at $66.47.

Analyst Upgrades and Downgrades

MXL has been the topic of several analyst reports. Stifel Nicolaus increased their price target on MaxLinear from $110.00 to $120.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. Susquehanna set a $70.00 price objective on MaxLinear in a report on Friday. Roth Capital upped their target price on MaxLinear from $60.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of MaxLinear in a report on Thursday, October 15th. Finally, Morgan Stanley set a $125.00 price target on MaxLinear in a research report on Monday, September 14th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, MaxLinear currently has a consensus rating of "Hold" and a consensus price target of $94.30.

MaxLinear Stock Up 9.9%

The stock has a market cap of $6.63 billion, a price-to-earnings ratio of -197.50 and a beta of 3.93. The business's 50 day moving average is $77.20 and its 200-day moving average is $58.29. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.22.

MaxLinear (NASDAQ:MXL - Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The semiconductor company reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.06. MaxLinear had a negative net margin of 4.45% and a positive return on equity of 12.89%. The company had revenue of $218.06 million during the quarter, compared to analysts' expectations of $214.95 million. During the same period in the prior year, the business posted $0.14 earnings per share. The firm's revenue for the quarter was up 72.4% on a year-over-year basis. On average, sell-side analysts predict that MaxLinear, Inc will post 0.78 EPS for the current fiscal year.

Insider Buying and Selling at MaxLinear

In related news, CEO Kishore Seendripu sold 351,454 shares of the firm's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $85.95, for a total value of $30,207,471.30. The sale was disclosed in a document filed with the SEC, which is available through this link. 7.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MaxLinear

Several large investors have recently bought and sold shares of the company. Ameritas Advisory Services LLC purchased a new position in shares of MaxLinear in the second quarter valued at approximately $32,000. Carolina Wealth Advisors LLC purchased a new stake in shares of MaxLinear during the second quarter worth approximately $47,000. Global Retirement Partners LLC acquired a new position in MaxLinear in the 2nd quarter valued at $56,000. Reyes Financial Architecture Inc. acquired a new position in MaxLinear in the 3rd quarter valued at $44,000. Finally, NFSG Corp lifted its holdings in MaxLinear by 284.0% in the 3rd quarter. NFSG Corp now owns 960 shares of the semiconductor company's stock valued at $87,000 after purchasing an additional 710 shares in the last quarter. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

MaxLinear Company Profile

MaxLinear, Inc is a fabless semiconductor company that designs, develops and sells integrated circuits and related solutions for broadband communications, wired and wireless infrastructure, data centers, industrial applications and consumer electronics. Its products are used by equipment manufacturers and service providers to support the transmission, processing and management of voice, video and data.

The company's portfolio includes broadband access system-on-chip products, Ethernet transceivers and controllers, high-speed interconnect and communications devices, radio-frequency and analog products, optical and copper connectivity solutions, and power-management components.

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