On Jan. 06, Seendripu Kishore divested U.S. $1,960,142 in shares of MaxLinear Inc.. The COB, Pres, CEO, 10% sold 53,460 shares at a price per share of $36.67. The transaction decreased this specific insider’s holdings to 3,919,939 shares worth around $146.02 million at present.
ROTH Capital took its MaxLinear Inc. [MXL] rating to the equivalent of a Buy from a Neutral,in a research note dated July 24, 2020. Other analysts also revised their coverage, with ROTH Capital’s analysts upgrading the shares from “a Neutral” rating to “a Buy” rating in a research note to investors issued in late July. Meanwhile, Loop Capital had launched its coverage on MXL with “Hold”, in a research note produced for clients July 23, 2020. In addition, there was a new coverage from Craig Hallum on May 04, 2020. The research firm rated MXL “a Buy”.
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Is MaxLinear Inc. [NYSE:MXL] a Good Buy Right Now?
It should be noted that MXL technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 100% Buy in the past month. Data from MaxLinear Inc.’s Trend Spotter indicated that the signals were Strengthening. The stock current average is 0.55 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.53 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.49 million shares.
MXL Price Performance
On Wall Street, MaxLinear Inc. [NYSE:MXL] finished Friday’s session down -1.17% at $37.25. The stock went up to $38.71 at the same session while its lowest single day price was $36.95. In the last five days, it saw a fall of about -2.46%, MaxLinear Inc. shares dropped by almost -2.46% since the beginning of the year. However, the share price has dropped to as low as -3.72% below its one year high. On 01/08/21, the company shares recorded $38.71, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $34.91. The company’s shares have inclined by 81.44% in the past year. The 50-day SMA achieved is $31.39 while the 200-day SMA is $23.75. Volume dropped to 0.43 million from 0.51 million in the previous session.
MXL Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 36.56 level, and in case of violation of this particular level, it will cause more drop to 35.88 level. On the upper level, 39.40 is still the key resistance. The stock may increase to the subsequent resistance at 38.32. The Relative Strength Index (RSI) pinned on the 14-day chart is 62.60, implying a neutral technical stance while the MACD stands at 0.66, meaning price will decrease in the next trading period. Percent R indicator moved to 23.86%, implying bullish price movement. Stochastic %K at 76.34% suggest holding the stock.
What is the short interest in MaxLinear Inc.?
Short interest in the MaxLinear Inc. stock has surged, increasing by 0.23 million shares to total 1.95 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 2.18 million, data from Yahoo Finance shows. The decrease of -11.79% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 3.40% of the overall float for the stock.
MaxLinear Inc.’s Biggest Shareholders: Who Owns MaxLinear Inc. [MXL]?
Filings by BlackRock Fund Advisors showed that the firm now holds a total of 9,332,766 shares or roughly 12.58% of the outstanding MXL shares. This means their shares have reduced by -128,762 from the 9,332,766 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, The Vanguard Group, Inc. updated stake is worth $208,952,156. Details in the latest 13F filings reveal that PRIMECAP Management Co. disposed off their -2.78% stake valued at $142,903,188 while T. Rowe Price Associates, Inc. cut theirs at $117,875,188. During the last quarter, PRIMECAP Management Co. liquidated -130,770 of its shares in MaxLinear Inc. while T. Rowe Price Associates, Inc. sold -101,609 shares. The SSgA Funds Management, Inc.’s holdings currently number 2,575,400 shares at $95933650.0. According to the firm’s last 13F report, Macquarie Investment Management B shares in the company at filing stood at 2,482,349 shares, roughly $77,573,406.
MXL Earnings Forecast For The Current Quarter
MaxLinear Inc. [MXL] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $190.34M and an earnings per share of $0.36 for Dec 2020. Looking further ahead, the company is expected to report revenue of $193.85M at an EPS of $0.44 for Mar 2021. The estimates represent upside of 60.50% and 106.97% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
MXL Earnings Estimates For The Current Year
For the financial year, MaxLinear Inc. [NYSE:MXL] is expected to bring in revenue of $474.22M. The returns are nearly $157.04 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 0.85, higher than that of FY19 by $0.05. Estimates put this year’s earnings growth at 6.20%, 105.90% for the next, and at an annual 23.60% over the next 5-year period. As for sales, forecasts are for an increase of 49.50% in the current fiscal year and a further 60.50% over the following year.
What are analyst thoughts on MaxLinear Inc.?
Looking forward to the MaxLinear Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for MaxLinear Inc. stock at $40.50 within the next 12 months, which represents almost 8.02 per cent growth from its previous closing price of $37.25. The highest analysts’ target for MaxLinear Inc. stock projections is $50.00 and the lowest one is $30.00. Still, 11 analysts sharing their consensus rating for MXL stock in 2021 agree that it is an Overweight.