MaxLinear Inc (NASDAQ:MXL) price on Friday, June 13, fall -5.43% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $11.67.
A look at the stock’s price movement, the close in the last trading session was $12.34. Turning to its 52-week performance, $26.59 and $8.35 were the 52-week high and 52-week low respectively. Overall, MXL moved -8.76% over the past month.
MaxLinear Inc’s market cap currently stands at around $1.01 billion, with investors looking forward to this quarter’s earnings report slated for in July.
Analysts have a consensus estimate of 104.94M for the company’s revenue for the quarter, with a low and high estimate of 104M and 105.15M respectively. The average forecast suggests up to a 14.07% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 443.04M, representing a 22.89% jump on that reported in the last financial year.
12 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 4 analyst(s) rate the stock as a Hold, 8 recommend MXL as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
MXL’s current price about -2.64% and 4.74% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 47.05, while 7-day volatility ratio is 2.51% and 2.56% in the 30-day chart. Further, MaxLinear Inc (MXL) has a beta value of 1.67, and an average true range (ATR) of 0.57. Analysts have given the company’s stock an average 52-week price target of $18, forecast between a low of $11 and high of $25. Looking at the price targets, the low is 5.74% off current price level while to achieve the yearly target high, price needs to move -114.22%. Nonetheless, investors will most likely welcome a -54.24% jump to $18 which is the analysts’ median price.
If we refocus on MaxLinear Inc (NASDAQ:MXL), historical trading data shows that trading volumes averaged 1.32 million over the past 3 months. The company’s latest data on shares outstanding shows there are 86.37 million shares.
The 7.18% of MaxLinear Inc’s shares are in the hands of company insiders while institutional holders own 83.51% of the company’s shares. Current price change has pushed the stock -41.00% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the MXL stock continues to rise going into the next quarter.
