MaxLinear (NASDAQ:MXL) Reaches New 12-Month High – What’s Next?

MaxLinear, Inc (NASDAQ:MXL)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $108.65 and last traded at $108.47, with a volume of 5501522 shares changing hands. The stock had previously closed at $96.60.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $40.00 price target on shares of MaxLinear in a research note on Friday, April 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a report on Tuesday, April 21st. Loop Capital raised shares of MaxLinear from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $17.00 to $75.00 in a report on Wednesday, April 29th. Roth Mkm upgraded shares of MaxLinear from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Friday, April 24th. Finally, Benchmark began coverage on shares of MaxLinear in a report on Wednesday, May 27th. They issued a “buy” rating and a $125.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, MaxLinear currently has an average rating of “Hold” and a consensus target price of $65.50.

MaxLinear Price Performance

The company has a quick ratio of 1.12, a current ratio of 1.70 and a debt-to-equity ratio of 0.27. The company has a market cap of $9.71 billion, a price-to-earnings ratio of -71.36 and a beta of 3.98. The company has a fifty day simple moving average of $81.39 and a two-hundred day simple moving average of $40.45.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.04. MaxLinear had a negative return on equity of 2.33% and a negative net margin of 25.96%.The business had revenue of $137.19 million during the quarter, compared to the consensus estimate of $137.15 million. During the same quarter in the previous year, the company posted ($0.05) EPS. The business’s revenue was up 43.0% on a year-over-year basis. On average, equities research analysts anticipate that MaxLinear, Inc will post 0.52 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Connie H. Kwong sold 35,000 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $96.96, for a total value of $3,393,600.00. Following the sale, the insider directly owned 13,947 shares in the company, valued at $1,352,301.12. This represents a 71.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas E. Pardun sold 11,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $105.00, for a total transaction of $1,155,000.00. Following the transaction, the director directly owned 55,252 shares of the company’s stock, valued at approximately $5,801,460. This trade represents a 16.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 65,168 shares of company stock valued at $5,559,358 over the last 90 days. 7.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MaxLinear

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in MaxLinear by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 13,326,387 shares of the semiconductor company’s stock worth $232,279,000 after buying an additional 605,903 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of MaxLinear by 27.8% in the second quarter. The Manufacturers Life Insurance Company now owns 2,889,111 shares of the semiconductor company’s stock valued at $41,054,000 after acquiring an additional 628,719 shares in the last quarter. Invesco Ltd. boosted its stake in shares of MaxLinear by 419.9% during the fourth quarter. Invesco Ltd. now owns 2,149,589 shares of the semiconductor company’s stock valued at $37,467,000 after acquiring an additional 1,736,141 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of MaxLinear by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 2,038,144 shares of the semiconductor company’s stock valued at $35,531,000 after acquiring an additional 28,548 shares during the last quarter. Finally, Marshall Wace LLP increased its position in MaxLinear by 31.8% during the 3rd quarter. Marshall Wace LLP now owns 1,826,259 shares of the semiconductor company’s stock worth $29,366,000 after purchasing an additional 441,088 shares in the last quarter. Institutional investors and hedge funds own 90.79% of the company’s stock.

MaxLinear Company Profile

MaxLinear, Inc is a provider of radio-frequency (RF), analog, and mixed-signal integrated circuits for broadband communications, data center connectivity, and video infrastructure applications. The company’s product portfolio includes high-performance RF front-end modules, broadband power amplifiers, optical and Ethernet transceivers, and network processors designed to support demanding signal processing requirements.

MaxLinear’s semiconductor solutions are used by cable and satellite television operators, fiber-to-the-home service providers, network equipment manufacturers, and data center operators.