MaxLinear (NASDAQ:MXL) Announces Quarterly Earnings Results, Beats Estimates By $0.03 EPS
by Renee Jackson · The Cerbat GemMaxLinear (NASDAQ:MXL – Get Free Report) issued its quarterly earnings data on Thursday. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.03, FiscalAI reports. The company had revenue of $137.19 million during the quarter, compared to the consensus estimate of $137.15 million. MaxLinear had a negative net margin of 29.23% and a negative return on equity of 6.95%.
MaxLinear Stock Performance
Shares of MXL traded up $0.36 during mid-day trading on Thursday, hitting $34.25. The stock had a trading volume of 4,461,819 shares, compared to its average volume of 1,454,177. MaxLinear has a fifty-two week low of $9.07 and a fifty-two week high of $37.37. The company has a quick ratio of 0.92, a current ratio of 1.34 and a debt-to-equity ratio of 0.27. The company has a market cap of $2.96 billion, a PE ratio of -21.68 and a beta of 1.70. The company’s fifty day simple moving average is $19.18 and its two-hundred day simple moving average is $17.78.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the stock. Benchmark upped their target price on shares of MaxLinear from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Stifel Nicolaus set a $34.00 price objective on shares of MaxLinear in a research report on Tuesday. Wells Fargo & Company lifted their target price on MaxLinear from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Friday, January 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MaxLinear in a research note on Tuesday. Finally, Susquehanna restated a “neutral” rating and set a $30.00 price objective on shares of MaxLinear in a report on Monday. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $23.29.
Read Our Latest Report on MaxLinear
Insider Buying and Selling
In other MaxLinear news, insider Steven G. Litchfield sold 20,000 shares of MaxLinear stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $17.50, for a total value of $350,000.00. Following the completion of the transaction, the insider owned 368,364 shares of the company’s stock, valued at $6,446,370. The trade was a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders have sold a total of 44,929 shares of company stock valued at $746,456 over the last three months. Insiders own 7.70% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of MXL. Smartleaf Asset Management LLC lifted its holdings in MaxLinear by 103.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 726 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of MaxLinear during the 4th quarter worth approximately $25,000. Quarry LP lifted its holdings in shares of MaxLinear by 1,293.0% in the 3rd quarter. Quarry LP now owns 2,187 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 2,030 shares during the last quarter. iSAM Funds UK Ltd bought a new stake in shares of MaxLinear in the 3rd quarter worth approximately $58,000. Finally, Raymond James Financial Inc. acquired a new position in MaxLinear during the 2nd quarter valued at approximately $51,000. 90.79% of the stock is owned by institutional investors and hedge funds.
About MaxLinear
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.