MaxLinear, Inc. (MXL) Shares Jump 12.6% on Preliminary Revenue Report and 2016 Outlook


Shares of MaxLinear, Inc. (NYSE:MXL) are up significantly this morning after the company announced preliminary fourth quarter 2015 revenue numbers and provided investors with a preliminary first quarter 2016 revenue outlook.

For the fourth quarter of 2015, MaxLinear, Inc. (NYSE:MXL) expects revenue to come in at around $99 million which is on the upper end of their previous guidance of $95 – $100 million. For the first quarter of 2016, the company expects reveneue to come in at between $99 million and $104 million, which is an increase of 5%.

Apparently investors are quite excited about these numbers with the Street having expected revenue of just $97.3 millon for the fourth quarter.

The stock is up 12.60% or $1.7 following the news, hitting $15.19 per share. About 821,473 shares traded hands or up 12.77% from the average. MXL has risen 33.43% since June 2, 2015 and is currently uptrending. It has outperformed the S&P500 by 38.12%.

From a total of 5 analysts covering Maxlinear Inc. (NYSE:MXL) stock, 5 rate it a “Buy”, 0 a “Sell”, and 0 a “Hold”. This means that 100% of the ratings are positive. The highest target price is $21 while the lowest target price is $7. The mean of all analyst targets is $18.67 which is 22.91% above today’s ($15.19) stock price. Maxlinear Inc. was the topic of 8 analyst reports since September 17, 2015 according to the firm StockzIntelligence Inc. Needham maintained shares on November 4 with a “Buy” rating.

The institutional sentiment decreased to 0.87 in Q2 2015. It’s down 2.97, from 3.84 in 2015Q2. The ratio fall, as 23 funds sold all their MaxLinear, Inc. shares they owned while 59 reduced their positions. 21 funds bought stakes while 50 increased their total positions. Institutions now own 43.42 million shares which is 48.56% less than the previous share count of 84.42 million in 2015Q2.

Raging Capital Management Llc holds 4.4% of its total portfolio in MaxLinear, Inc., equating to 2.69 million shares. Nokomis Capital L.L.C. owns 1.10 million shares representing 3.91% of their total US portfolio. Moreover, Elk Creek Partners Llc has 3.01% of their total portfolio invested in the company, equating to 3.00 million shares. The California-based Avalon Global Asset Management Llc has a total of 2.72% of their portfolio invested in the stock. S Squared Technology Llc, a New York-based fund reported 176,400 shares owned.

Since May 27, 2015, the stock had 0 insider buys, and 2 sales for a total of $256,310 in net activity. Lachance Michael J. sold 4,597 shares worth $47,765. Reddy Madhukar sold 19,426 shares worth $187,154.

MaxLinear, Inc. is a provider of integrated, radio-frequency and mixed-signal integrated circuits for broadband communications and data center, metro, and long-haul transport network applications. The company has a market cap of $844.08 million. The Firm offers semiconductor products, such as RF Receivers, RF Receiver systems-on-chip (SoCs), Laser Modulator Drivers, Transimpedance Amplifiers, and Clock and Data Recovery Circuits. It currently has negative earnings.