Key Points
- MaxLinear director Thomas Pardun sold 11,000 shares on May 26 for about $1.155 million, reducing his holdings by 16.6% to 55,252 shares.
- The stock has surged sharply, opening at $97.76 and trading near its 52-week high of $106.28, far above its 12-month low of $10.96.
- MaxLinear beat quarterly EPS estimates and posted 43% year-over-year revenue growth, while analysts currently have a Hold consensus with an average target price of $53.90.
MaxLinear, Inc (NASDAQ:MXL - Get Free Report) Director Thomas Pardun sold 11,000 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The shares were 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 represents a 16.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
MaxLinear Price Performance
Shares of NASDAQ:MXL opened at $97.76 on Friday. The company has a 50 day moving average of $51.02 and a 200 day moving average of $29.29. The stock has a market cap of $8.75 billion, a P/E ratio of -64.32 and a beta of 3.95. MaxLinear, Inc has a 12 month low of $10.96 and a 12 month high of $106.28. The company has a current ratio of 1.70, a quick ratio of 1.12 and a debt-to-equity ratio of 0.27.
MaxLinear (NASDAQ:MXL - Get Free Report) last posted its earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 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 analysts' expectations of $137.15 million. During the same period in the previous year, the business earned ($0.05) earnings per share. The firm's revenue was up 43.0% on a year-over-year basis. As a group, sell-side analysts forecast that MaxLinear, Inc will post 0.52 EPS for the current fiscal year.
Hedge Funds Weigh In On MaxLinear
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Glenmede Trust Co. NA boosted its stake in shares of MaxLinear by 66.2% in the 1st quarter. Glenmede Trust Co. NA now owns 37,836 shares of the semiconductor company's stock valued at $658,000 after purchasing an additional 15,072 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of MaxLinear by 6.9% in the 1st quarter. Bank of America Corp DE now owns 641,034 shares of the semiconductor company's stock valued at $11,148,000 after purchasing an additional 41,119 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of MaxLinear by 16.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 217 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of MaxLinear by 28.4% in the 1st quarter. California State Teachers Retirement System now owns 104,040 shares of the semiconductor company's stock valued at $1,809,000 after purchasing an additional 22,993 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its stake in shares of MaxLinear by 14.3% in the 1st quarter. Quantinno Capital Management LP now owns 47,858 shares of the semiconductor company's stock valued at $832,000 after purchasing an additional 5,982 shares in the last quarter. 90.79% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms recently commented on MXL. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $40.00 target price on shares of MaxLinear in a research report on Friday, April 24th. Weiss Ratings reissued a "sell (d-)" rating on shares of MaxLinear in a research note on Tuesday, April 21st. Needham & Company LLC raised shares of MaxLinear from a "hold" rating to a "buy" rating and set a $60.00 price target for the company in a research note on Friday, April 24th. Susquehanna reissued a "neutral" rating and issued a $30.00 price target on shares of MaxLinear in a research note on Monday, April 20th. Finally, Northland Securities set a $55.00 price target on shares of MaxLinear in a research note on Friday, April 24th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $53.90.
Check Out Our Latest Research Report on MXL
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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