MaxLinear, Inc (MXL) Sees Unusually-High Trading Volume

Shares of MaxLinear, Inc (NYSE:MXL) saw an uptick in trading volume on Friday . 2,107,574 shares changed hands during mid-day trading, an increase of 180% from the previous session’s volume of 751,436 shares.The stock last traded at $23.21 and had previously closed at $22.63.

A number of brokerages have recently issued reports on MXL. BidaskClub cut shares of MaxLinear from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 24th. TheStreet cut shares of MaxLinear from a “b” rating to a “c+” rating in a research report on Thursday, August 10th. Deutsche Bank AG reduced their target price on shares of MaxLinear from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, August 9th. Roth Capital reduced their target price on shares of MaxLinear from $38.00 to $33.50 and set a “buy” rating for the company in a research report on Wednesday, August 9th. Finally, Stifel Nicolaus reduced their target price on shares of MaxLinear from $34.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. MaxLinear currently has an average rating of “Buy” and a consensus target price of $31.36.

The firm has a 50 day moving average of $22.58 and a 200-day moving average of $26.83. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 41.97 and a beta of 0.61.

MaxLinear (NYSE:MXL) last issued its earnings results on Tuesday, August 8th. The semiconductor company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.23 by $0.04. MaxLinear had a return on equity of 22.29% and a net margin of 9.95%. The business had revenue of $104.18 million during the quarter, compared to the consensus estimate of $107.77 million. During the same quarter last year, the company earned $0.50 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. Equities analysts expect that MaxLinear, Inc will post $1.39 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its stake in MaxLinear by 94.6% in the 2nd quarter. BlackRock Inc. now owns 6,503,231 shares of the semiconductor company’s stock worth $181,375,000 after purchasing an additional 3,160,655 shares during the period. Vanguard Group Inc. boosted its stake in MaxLinear by 23.5% in the 2nd quarter. Vanguard Group Inc. now owns 5,095,203 shares of the semiconductor company’s stock worth $142,105,000 after purchasing an additional 970,197 shares during the period. Wellington Management Group LLP boosted its stake in MaxLinear by 8.5% in the 1st quarter. Wellington Management Group LLP now owns 4,321,928 shares of the semiconductor company’s stock worth $121,229,000 after purchasing an additional 339,530 shares during the period. William Blair Investment Management LLC boosted its stake in MaxLinear by 750.3% in the 1st quarter. William Blair Investment Management LLC now owns 3,752,779 shares of the semiconductor company’s stock worth $105,265,000 after purchasing an additional 3,311,413 shares during the period. Finally, Macquarie Group Ltd. boosted its stake in MaxLinear by 4.1% in the 2nd quarter. Macquarie Group Ltd. now owns 2,680,745 shares of the semiconductor company’s stock worth $74,766,000 after purchasing an additional 105,484 shares during the period. Institutional investors and hedge funds own 86.04% of the company’s stock.

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About MaxLinear

MaxLinear, Inc is a provider of radio frequency (RF) and mixed-signal integrated circuits for cable and satellite broadband communications and the connected home, and wired and wireless infrastructure markets. The Company’s RF receiver products capture and process digital and analog broadband signals to be decoded for various applications.

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