In the last trading session, 1.52 million shares of the MaxLinear Inc (NASDAQ:MXL) were traded, and its beta was 1.86. Most recently the company’s share price was $19.26, and it changed around $0.6 or 3.22% from the last close, which brings the market valuation of the company to $1.68B. MXL currently trades at a discount to its 52-week high of $26.59, offering almost -38.06% off that amount. The share price’s 52-week low was $11.08, which indicates that the current value has risen by an impressive 42.47% since then. We note from MaxLinear Inc’s average daily trading volume that its 10-day average is 1.7 million shares, with the 3-month average coming to 1.35 million.
MaxLinear Inc stock received a consensus recommendation rating of Hold, based on a mean score of 2.25. If we narrow it down even further, the data shows that 0 out of 11 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 7 recommended MXL as a Hold, whereas 4 deemed it a Buy, and 0 rated it as Underweight. MaxLinear Inc is expected to report earnings per share of -0.13 for the current quarter.
MaxLinear Inc (NASDAQ:MXL) trade information
Instantly MXL has showed a green trend with a performance of 3.22% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 20.41 on recent trading dayincreased the stock’s daily price by 5.63%. The company’s shares are currently down -18.97% year-to-date, but still up 27.30% over the last five days. On the other hand, MaxLinear Inc (NASDAQ:MXL) is 30.58% up in the 30-day period. We can see from the shorts that 4.09 million shares have been sold at a short interest cover period of 2.35 day(s).
The consensus price target as assigned by Wall Street analysts is $25, which translates to bulls needing to increase their stock price by 22.96% from its current value. Analyst projections state that MXL is forecast to be at a low of $15 and a high of $30.
MaxLinear Inc (MXL) estimates and forecasts
MaxLinear Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 11.91 percent over the past six months and at a -185.45% annual growth rate that is well below the industry average of -4.80%. The year-over-year growth rate is expected to be -48.31%, down from the previous year.
Consensus estimates provided by 11 financial analysts predict the company will bring in an average of 90M in revenue for the current quarter. 11 analysts expect MaxLinear Inc to make 93.23M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 125.35M and 95.27M respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -28.20%. Forecasts for the next quarter put sales growth at -2.14%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -18.83%. MaxLinear Inc earnings are expected to increase by -185.82% in 2024, but the outlook is positive 5.00% per year for the next five years.
MXL Dividends
MaxLinear Inc’s next quarterly earnings report is expected to be released in January.
MaxLinear Inc (NASDAQ:MXL)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 6.44% of MaxLinear Inc shares, and 85.81% of them are in the hands of institutional investors. The stock currently has a share float of 91.71%. MaxLinear Inc stock is held by 300.0 institutions, with BLACKROCK INC. being the largest institutional investor. By 2024-06-30, it held 15.7672% of the shares, which is about 12.98 million shares worth $261.5 million.
VANGUARD GROUP INC, with 14.673% or 12.08 million shares worth $243.35 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
