MaxLinear (NYSE:MXL) Shares Gap Up – What’s Next?

Shares of MaxLinear, Inc. (NYSE:MXL) 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 traded.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MXL. Susquehanna lowered MaxLinear from a “positive” rating to a “neutral” rating and reduced their target price for the stock from $26.00 to $15.00 in a research note on Tuesday, October 1st. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a research report on Thursday. Northland Securities dropped their price target on MaxLinear from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Benchmark reissued a “buy” rating and set a $22.00 price target on shares of MaxLinear in a research report on Thursday. Finally, Stifel Nicolaus increased their price target on MaxLinear from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $23.50.

MaxLinear Stock Performance

The stock has a market capitalization of $1.32 billion, a PE ratio of -8.30 and a beta of 1.83. 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 firm has a 50 day moving average price of $13.77 and a 200-day moving average price of $17.19.

MaxLinear (NYSE:MXL) last announced its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.06). MaxLinear had a negative net margin of 42.38% and a negative return on equity of 12.39%. The company had revenue of $92.00 million for the quarter, compared to analysts’ expectations of $100.25 million. During the same quarter in the prior year, the business posted $0.19 earnings per share. The firm’s revenue was down 50.0% compared to the same quarter last year. Research analysts expect that MaxLinear, Inc. will post -1.74 EPS for the current fiscal year.

Insider Buying and Selling at MaxLinear

In other MaxLinear news, CEO Kishore Seendripu acquired 108,303 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were 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 approximately $6,883,264.78. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.60% of the stock is owned by corporate insiders.

Institutional Trading of MaxLinear

Several large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its stake in MaxLinear by 58.0% during the first quarter. BNP Paribas Financial Markets now owns 265,567 shares of the semiconductor company’s stock worth $4,958,000 after purchasing an additional 97,447 shares during the period. Vanguard Group Inc. increased 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 valued at $275,406,000 after acquiring an additional 903,235 shares during the last quarter. Edgestream Partners L.P. increased its position in shares of MaxLinear by 69.5% during the first quarter. Edgestream Partners L.P. now owns 105,355 shares of the semiconductor company’s stock valued at $1,967,000 after acquiring an additional 43,181 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of MaxLinear during the first quarter valued at about $59,000. Finally, Millennium Management LLC increased its position in shares of MaxLinear by 307.9% during the second quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company’s stock valued at $21,039,000 after acquiring an additional 788,558 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.