MaxLinear (NYSE:MXL) Sees Large Volume Increase

Shares of MaxLinear, Inc. (NYSE:MXL) saw an uptick in trading volume on Thursday . 775,600 shares traded hands during trading, a decline of 10% from the previous session’s volume of 865,421 shares.The stock last traded at $12.82 and had previously closed at $11.93.

Analysts Set New Price Targets

Several brokerages recently weighed in on MXL. Stifel Nicolaus raised their price objective on shares of MaxLinear from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Benchmark cut their price objective on shares of MaxLinear from $28.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Craig Hallum cut their price objective on shares of MaxLinear from $38.00 to $28.00 and set a “hold” rating on the stock in a research report on Thursday, July 25th. Susquehanna cut their price objective on shares of MaxLinear from $30.00 to $26.00 and set a “positive” rating on the stock in a research report on Thursday, July 25th. Finally, Northland Securities cut their price objective on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, MaxLinear has an average rating of “Hold” and an average target price of $24.67.

MaxLinear Stock Performance

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

MaxLinear (NYSE:MXL) last announced its quarterly earnings data 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 company had revenue of $92.00 million during the quarter, compared to analyst estimates of $100.25 million. MaxLinear had a negative return on equity of 12.39% and a negative net margin of 42.38%. The company’s revenue was down 50.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.19 EPS. On average, analysts anticipate that MaxLinear, Inc. will post -1.6 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Kishore Seendripu acquired 108,303 shares of the business’s stock in a transaction on Tuesday, July 30th. The stock was bought at an average cost of $12.94 per share, with a total value of $1,401,440.82. Following the completion of the acquisition, the chief executive officer now owns 531,937 shares in the company, valued at $6,883,264.78. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 8.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Headlands Technologies LLC bought a new position in shares of MaxLinear in the first quarter valued at about $27,000. Innealta Capital LLC bought a new position in shares of MaxLinear in the second quarter valued at about $30,000. International Assets Investment Management LLC bought a new position in shares of MaxLinear in the second quarter valued at about $31,000. Canada Pension Plan Investment Board bought a new position in shares of MaxLinear in the second quarter valued at about $56,000. Finally, EntryPoint Capital LLC bought a new position in shares of MaxLinear in the first quarter valued at about $59,000. 90.79% of the stock is 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.