MaxLinear, Inc. (NYSE:MXL) was a big mover last session, as the company saw its shares rise 5.4% on the day. Shares gained after the company, in collaboration with Hitron Technologies, announced the launch of CMS-02 – an embedded spectrum analysis module. The news led to far more shares changing hands than in a normal session resulting in solid volume. Yesterday’s rally breaks the recent trend of the company, as the stock is now trading above the volatile price range of $15.86 to $18.47 in the last one-month time frame.
The company has seen two estimate revisions over the past one month, while its Zacks Consensus Estimate moved higher over the same time frame, suggesting that more solid trading could be ahead for this stock. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
MaxLinear currently carries a Zacks Rank #3 (Hold).
A better-ranked stock in the same industry is MICROCHIP TECH (NASDAQ:MCHP) which sports a Zacks Rank #1 (Strong Buy).
Is MXL going up? Or down? Predict to see what others think: Up or Down
MICROCHIP TECH (MCHP): Free Stock Analysis Report
MAXLINEAR INC-A (MXL): Free Stock Analysis Report
Original post