MaxLinear (NYSE:MXL) Stock Price Up 6.7%

MaxLinear, Inc. (NYSE:MXL)’s share price rose 6.7% on Friday . The stock traded as high as $14.80 and last traded at $14.72. Approximately 294,856 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 876,723 shares. The stock had previously closed at $13.79.

Analyst Upgrades and Downgrades

MXL has been the subject of several recent analyst reports. Craig Hallum dropped their target price on shares of MaxLinear from $38.00 to $28.00 and set a “hold” rating for the company in a report on Thursday, July 25th. Northland Securities dropped their target price on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Susquehanna decreased their price target on shares of MaxLinear from $30.00 to $26.00 and set a “positive” rating on the stock in a research note on Thursday, July 25th. Needham & Company LLC cut shares of MaxLinear from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, Stifel Nicolaus boosted their price target on shares of MaxLinear from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $24.67.

MaxLinear Price Performance

The firm’s 50-day moving average price is $17.08 and its 200-day moving average price is $18.58. The company has a current ratio of 2.09, a quick ratio of 1.59 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $1.26 billion, a PE ratio of -8.03 and a beta of 1.85.

MaxLinear (NYSE:MXL) last announced its earnings results on Wednesday, July 24th. The semiconductor company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.06). The business had revenue of $92.00 million for the quarter, compared to analysts’ expectations of $100.25 million. MaxLinear had a negative net margin of 42.38% and a negative return on equity of 12.39%. The firm’s quarterly revenue was down 50.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.19 earnings per share. On average, equities analysts forecast that MaxLinear, Inc. will post -1.6 EPS for the current fiscal year.

Insider Activity

In other MaxLinear news, CEO Kishore Seendripu bought 108,303 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were purchased at an average cost of $12.94 per share, for a total transaction of $1,401,440.82. Following the transaction, the chief executive officer now owns 531,937 shares of the company’s stock, valued at $6,883,264.78. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 8.60% of the company’s stock.

Institutional Trading of MaxLinear

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new stake in MaxLinear in the 1st quarter worth about $27,000. Innealta Capital LLC purchased a new stake in MaxLinear in the 2nd quarter worth about $30,000. International Assets Investment Management LLC purchased a new stake in MaxLinear in the 2nd quarter worth about $31,000. Canada Pension Plan Investment Board purchased a new stake in MaxLinear in the 2nd quarter worth about $56,000. Finally, EntryPoint Capital LLC purchased a new stake in MaxLinear in the 1st quarter worth about $59,000. 90.79% of the stock is owned by hedge funds and other institutional investors.

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.