Key Points
- MaxLinear insider Connie Kwong sold 35,000 shares on May 8 at an average price of $96.96, totaling about $3.39 million. The sale cut Kwong’s ownership by roughly 71.5%.
- MaxLinear recently reported better-than-expected quarterly earnings, with EPS of $0.22 versus the $0.18 estimate and revenue of $137.19 million, up 43% year over year. Analysts now expect the company to earn $0.52 EPS for the full fiscal year.
- Wall Street remains mixed on the stock, with a consensus rating of Hold and an average target price of $44.20. Institutional investors own about 90.79% of MaxLinear shares.
MaxLinear, Inc (NASDAQ:MXL - Get Free Report) insider Connie Kwong sold 35,000 shares of the business's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $96.96, for a total transaction of $3,393,600.00. Following the completion of the sale, the insider owned 13,947 shares in the company, valued at approximately $1,352,301.12. This trade represents a 71.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
MaxLinear Stock Performance
MaxLinear stock opened at $99.83 on Friday. The company's 50-day moving average price is $27.43 and its 200-day moving average price is $20.85. MaxLinear, Inc has a twelve month low of $10.96 and a twelve month high of $101.30. 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 $8.94 billion, a PE ratio of -65.68 and a beta of 3.95.
MaxLinear (NASDAQ:MXL - Get Free Report) last posted its earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.04. MaxLinear had a negative net margin of 25.96% and a negative return on equity of 2.33%. The firm had revenue of $137.19 million for the quarter, compared to the consensus estimate of $137.15 million. During the same period in the previous year, the firm posted ($0.05) EPS. The business's quarterly revenue was up 43.0% on a year-over-year basis. On average, equities research analysts forecast that MaxLinear, Inc will post 0.52 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $40.00 target price on shares of MaxLinear in a research note on Friday, April 24th. Benchmark increased their target price on shares of MaxLinear from $25.00 to $28.00 and gave the company a "buy" rating in a research note on Friday, January 16th. Weiss Ratings reissued a "sell (d-)" rating on shares of MaxLinear in a research note on Tuesday, April 21st. Northland Securities set a $55.00 target price on shares of MaxLinear in a research note on Friday, April 24th. Finally, Stifel Nicolaus increased their target price on shares of MaxLinear from $34.00 to $49.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $44.20.
Get Our Latest Stock Analysis on MXL
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in MXL. Larson Financial Group LLC grew its holdings in shares of MaxLinear by 161.7% in the fourth quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 875 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of MaxLinear by 103.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 726 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of MaxLinear in the fourth quarter worth about $25,000. International Assets Investment Management LLC bought a new position in shares of MaxLinear in the fourth quarter worth about $27,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of MaxLinear by 97.0% in the third quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the semiconductor company's stock worth $34,000 after purchasing an additional 1,039 shares during the last quarter. 90.79% of the stock is currently owned by institutional investors.
MaxLinear Company Profile
(
Get Free Report)
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.
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