MaxLinear (NASDAQ:MXL) Shares Gap Up – Here’s What Happened

MaxLinear, Inc. (NASDAQ:MXL) shares gapped up prior to trading on Thursday . The stock had previously closed at $14.87, but opened at $17.00. MaxLinear shares last traded at $15.68, with a volume of 844,700 shares.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Northland Securities lowered their price target 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. Stifel Nicolaus boosted their target price on shares of MaxLinear from $26.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Benchmark restated a “buy” rating and set a $22.00 price target on shares of MaxLinear in a report on Thursday. Susquehanna cut MaxLinear from a “positive” rating to a “neutral” rating and decreased their price objective for the company from $26.00 to $15.00 in a report on Tuesday, October 1st. Finally, Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a research note on Thursday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $23.13.

MaxLinear Trading Down 1.6 %

The company has a quick ratio of 1.59, a current ratio of 2.09 and a debt-to-equity ratio of 0.20. The business has a 50-day simple moving average of $13.87 and a 200-day simple moving average of $17.11. The company has a market cap of $1.25 billion, a PE ratio of -6.43 and a beta of 1.83.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.04). MaxLinear had a negative net margin of 42.38% and a negative return on equity of 12.39%. The firm had revenue of $81.10 million during the quarter, compared to analysts’ expectations of $80.40 million. During the same quarter in the prior year, the firm posted ($0.02) EPS. MaxLinear’s quarterly revenue was down 40.2% compared to the same quarter last year. On average, analysts predict that MaxLinear, Inc. will post -1.74 EPS for the current fiscal year.

Insider Transactions at MaxLinear

In other MaxLinear news, CEO Kishore Seendripu bought 108,303 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The shares were purchased at an average cost of $12.94 per share, with a total value of $1,401,440.82. Following the purchase, the chief executive officer now directly owns 531,937 shares in the company, valued at approximately $6,883,264.78. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of MaxLinear by 8.5% during the fourth quarter. Vanguard Group Inc. now owns 11,586,273 shares of the semiconductor company’s stock worth $275,406,000 after buying an additional 903,235 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in MaxLinear by 58.0% in the first quarter. BNP Paribas Financial Markets now owns 265,567 shares of the semiconductor company’s stock worth $4,958,000 after acquiring an additional 97,447 shares during the last quarter. Capstone Investment Advisors LLC grew its holdings in MaxLinear by 42.7% during the 1st quarter. Capstone Investment Advisors LLC now owns 17,899 shares of the semiconductor company’s stock worth $334,000 after acquiring an additional 5,353 shares in the last quarter. Jennison Associates LLC grew its holdings in MaxLinear by 2.7% during the 1st quarter. Jennison Associates LLC now owns 533,416 shares of the semiconductor company’s stock worth $9,959,000 after acquiring an additional 14,111 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its position in shares of MaxLinear by 2.2% in the 1st quarter. Texas Permanent School Fund Corp now owns 65,248 shares of the semiconductor company’s stock valued at $1,218,000 after purchasing an additional 1,375 shares during the last quarter. 90.79% of the stock is currently 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.