MaxLinear (NASDAQ:MXL) Trading 5.3% Higher – Still a Buy?

MaxLinear, Inc. (NASDAQ:MXL)’s stock price traded up 5.3% on Wednesday . The company traded as high as $20.64 and last traded at $20.58. 377,115 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 1,040,636 shares. The stock had previously closed at $19.55.

Wall Street Analysts Forecast Growth

MXL has been the topic of several recent research reports. Susquehanna cut shares of MaxLinear from a “positive” rating to a “neutral” rating and lowered their price objective for the stock from $26.00 to $15.00 in a research note on Tuesday, October 1st. Wells Fargo & Company started coverage on MaxLinear in a report on Friday, November 22nd. They issued an “equal weight” rating and a $14.00 price target on the stock. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. Craig Hallum cut their target price on MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Finally, Benchmark lifted their price target on MaxLinear from $22.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $23.14.

MaxLinear Price Performance

The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of -7.01 and a beta of 1.87. The company has a current ratio of 1.95, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22. The company has a 50 day moving average price of $15.88 and a 200 day moving average price of $16.14.

MaxLinear (NASDAQ:MXL) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.04). The firm had revenue of $81.10 million during the quarter, compared to the consensus estimate of $80.40 million. MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. The firm’s revenue for the quarter was down 40.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.02) EPS. As a group, equities research analysts forecast that MaxLinear, Inc. will post -1.66 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Ted L. Tewksbury III sold 5,800 shares of MaxLinear stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $15.36, for a total transaction of $89,088.00. Following the completion of the transaction, the director now owns 69,717 shares in the company, valued at approximately $1,070,853.12. This trade represents a 7.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP William Torgerson sold 6,100 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $15.40, for a total value of $93,940.00. Following the completion of the sale, the vice president now owns 179,262 shares in the company, valued at approximately $2,760,634.80. This trade represents a 3.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,900 shares of company stock worth $927,278. 8.60% of the stock is owned by insiders.

Institutional Investors Weigh In On MaxLinear

Several institutional investors have recently made changes to their positions in MXL. Geode Capital Management LLC lifted its stake in MaxLinear by 0.4% during the third quarter. Geode Capital Management LLC now owns 1,805,722 shares of the semiconductor company’s stock worth $26,152,000 after purchasing an additional 6,420 shares during the last quarter. Barclays PLC raised its holdings in shares of MaxLinear by 47.6% during the 3rd quarter. Barclays PLC now owns 335,804 shares of the semiconductor company’s stock worth $4,860,000 after buying an additional 108,346 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of MaxLinear by 4,298.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 20,979 shares of the semiconductor company’s stock worth $304,000 after buying an additional 20,502 shares during the last quarter. Orion Portfolio Solutions LLC boosted its stake in MaxLinear by 35.7% in the third quarter. Orion Portfolio Solutions LLC now owns 32,259 shares of the semiconductor company’s stock valued at $467,000 after buying an additional 8,495 shares in the last quarter. Finally, Two Sigma Advisers LP grew its position in MaxLinear by 21.8% in the third quarter. Two Sigma Advisers LP now owns 694,149 shares of the semiconductor company’s stock valued at $10,051,000 after acquiring an additional 124,300 shares during the last quarter. 90.79% of the stock is currently owned by institutional investors.

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.