MaxLinear (NASDAQ:MXL) Trading Up 5% – Time to Buy?

MaxLinear, Inc. (NASDAQ:MXL) shares were up 5% on Tuesday . The stock traded as high as $11.41 and last traded at $11.40. Approximately 608,508 shares traded hands during trading, a decline of 55% from the average daily volume of 1,347,313 shares. The stock had previously closed at $10.86.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MXL shares. Benchmark reaffirmed a “buy” rating and issued a $28.00 price objective on shares of MaxLinear in a research report on Thursday, January 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a report on Thursday, January 30th. Wells Fargo & Company lifted their price objective on MaxLinear from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Susquehanna lowered their target price on shares of MaxLinear from $25.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Finally, Northland Securities raised their price target on shares of MaxLinear from $25.00 to $27.50 and gave the company an “outperform” rating in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $25.50.

MaxLinear Stock Down 16.2 %

The company’s 50-day moving average price is $14.96 and its 200 day moving average price is $16.25. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.28 and a current ratio of 1.77. The stock has a market cap of $864.11 million, a PE ratio of -3.48 and a beta of 1.76.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.14). MaxLinear had a negative net margin of 68.01% and a negative return on equity of 21.94%. As a group, analysts forecast that MaxLinear, Inc. will post -0.37 EPS for the current fiscal year.

Institutional Trading of MaxLinear

Several institutional investors and hedge funds have recently modified their holdings of MXL. State Street Corp boosted its holdings in MaxLinear by 5.1% in the 3rd quarter. State Street Corp now owns 4,123,419 shares of the semiconductor company’s stock worth $59,707,000 after buying an additional 198,791 shares during the period. Geode Capital Management LLC boosted its stake in shares of MaxLinear by 0.4% in the third quarter. Geode Capital Management LLC now owns 1,805,722 shares of the semiconductor company’s stock worth $26,152,000 after acquiring an additional 6,420 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of MaxLinear by 3,698.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,525,419 shares of the semiconductor company’s stock worth $30,173,000 after purchasing an additional 1,485,256 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in MaxLinear during the 4th quarter valued at approximately $25,659,000. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in MaxLinear by 10.0% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,268,857 shares of the semiconductor company’s stock worth $25,098,000 after purchasing an additional 115,867 shares in the last quarter. 90.79% of the stock is currently 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.