MaxLinear (NASDAQ:MXL) Trading 5.8% Higher – Here’s Why

Shares of MaxLinear, Inc. (NASDAQ:MXL) rose 5.8% during trading on Tuesday . The stock traded as high as $19.80 and last traded at $20.14. Approximately 338,386 shares traded hands during trading, a decline of 79% from the average daily volume of 1,607,933 shares. The stock had previously closed at $19.04.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MXL. Craig Hallum reduced their target price on MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Benchmark upped their target price on MaxLinear from $22.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Northland Securities lifted their price target on MaxLinear from $25.00 to $27.50 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Wells Fargo & Company upped their target price on MaxLinear from $14.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $25.64.

MaxLinear Stock Performance

The company has a quick ratio of 1.38, a current ratio of 1.95 and a debt-to-equity ratio of 0.22. The stock has a market cap of $1.71 billion, a P/E ratio of -7.39 and a beta of 1.79. The firm’s 50-day moving average is $19.51 and its two-hundred day moving average is $16.41.

Insider Activity at MaxLinear

In related news, insider Connie H. Kwong sold 5,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $18.61, for a total value of $93,050.00. Following the transaction, the insider now directly owns 49,147 shares in the company, valued at approximately $914,625.67. This trade represents a 9.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Steven G. Litchfield sold 32,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $20.35, for a total transaction of $651,200.00. Following the sale, the insider now owns 365,868 shares of the company’s stock, valued at $7,445,413.80. This trade represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,900 shares of company stock valued at $927,278. Insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On MaxLinear

Several large investors have recently made changes to their positions in the business. R Squared Ltd bought a new position in MaxLinear in the 4th quarter worth approximately $45,000. Pacer Advisors Inc. increased its stake in MaxLinear by 29.0% during the fourth quarter. Pacer Advisors Inc. now owns 1,968 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 443 shares during the period. Assenagon Asset Management S.A. increased its stake in MaxLinear by 339.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,250,769 shares of the semiconductor company’s stock valued at $24,740,000 after acquiring an additional 966,468 shares during the period. Weybosset Research & Management LLC raised its holdings in MaxLinear by 34.1% in the 4th quarter. Weybosset Research & Management LLC now owns 92,731 shares of the semiconductor company’s stock valued at $1,834,000 after acquiring an additional 23,576 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of MaxLinear by 19.1% during the 4th quarter. GAMMA Investing LLC now owns 4,134 shares of the semiconductor company’s stock worth $82,000 after purchasing an additional 662 shares in the last quarter. Institutional investors and hedge funds own 90.79% of the company’s stock.

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.