MaxLinear (NASDAQ:MXL) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?
by Danessa Lincoln · The Markets DailyMaxLinear, Inc (NASDAQ:MXL – Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.74 and traded as high as $17.74. MaxLinear shares last traded at $17.58, with a volume of 702,136 shares changing hands.
Analyst Upgrades and Downgrades
MXL has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxLinear in a research note on Wednesday, October 8th. Benchmark restated a “buy” rating and set a $25.00 target price on shares of MaxLinear in a report on Friday, October 24th. Williams Trading set a $25.00 price target on MaxLinear in a report on Friday, October 24th. Zacks Research lowered MaxLinear from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 22nd. Finally, Wall Street Zen upgraded MaxLinear from a “hold” rating to a “buy” rating in a report on Saturday, September 20th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, MaxLinear has a consensus rating of “Hold” and an average price target of $19.94.
Check Out Our Latest Research Report on MaxLinear
MaxLinear Trading Down 1.5%
The company has a market cap of $1.52 billion, a price-to-earnings ratio of -8.34 and a beta of 1.83. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.55 and a quick ratio of 1.08. The business’s 50-day simple moving average is $16.21 and its 200-day simple moving average is $15.79.
MaxLinear (NASDAQ:MXL – Get Free Report) last issued its quarterly earnings data on Thursday, October 23rd. The semiconductor company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. MaxLinear had a negative net margin of 42.43% and a negative return on equity of 12.74%. The business had revenue of $126.46 million during the quarter, compared to analysts’ expectations of $124.66 million. During the same period last year, the company posted ($0.36) EPS. The company’s revenue was up 56.0% on a year-over-year basis. Research analysts predict that MaxLinear, Inc will post -0.37 earnings per share for the current fiscal year.
MaxLinear declared that its Board of Directors has authorized a stock repurchase plan on Monday, November 24th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the semiconductor company to buy up to 5.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.
Insider Activity
In other news, Director Daniel A. Artusi sold 20,747 shares of MaxLinear stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $15.39, for a total transaction of $319,296.33. Following the completion of the sale, the director directly owned 12,141 shares in the company, valued at $186,849.99. The trade was a 63.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 7.80% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On MaxLinear
Several institutional investors and hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its stake in shares of MaxLinear by 97.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 1,039 shares during the period. Quarry LP increased its stake in MaxLinear by 1,293.0% during the third quarter. Quarry LP now owns 2,187 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 2,030 shares during the last quarter. Farther Finance Advisors LLC acquired a new stake in MaxLinear during the second quarter worth about $44,000. Bessemer Group Inc. raised its holdings in shares of MaxLinear by 917.6% in the 3rd quarter. Bessemer Group Inc. now owns 3,175 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 2,863 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in shares of MaxLinear by 104.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,579 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 1,828 shares during the period. Institutional investors and hedge funds own 90.79% of the company’s stock.
MaxLinear Company Profile
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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