MaxLinear, Inc. (NASDAQ:MXL) Receives $22.29 Consensus Price Target from Brokerages

MaxLinear, Inc. (NASDAQ:MXL) has been assigned an average recommendation of “Moderate Buy” from the seven research firms that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $23.14.

Several analysts have issued reports on the company. Wells Fargo & Company began coverage on MaxLinear in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $14.00 target price for the company. Craig Hallum cut their price objective on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Needham & Company LLC reiterated a “hold” rating on shares of MaxLinear in a research report on Thursday, October 24th. Benchmark upped their price target on shares of MaxLinear from $22.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Susquehanna downgraded MaxLinear from a “positive” rating to a “neutral” rating and decreased their price objective for the stock from $26.00 to $15.00 in a report on Tuesday, October 1st.

Insider Activity

In other MaxLinear news, VP William Torgerson sold 6,100 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $15.40, for a total value of $93,940.00. Following the completion of the transaction, the vice president now directly owns 179,262 shares in the company, valued at approximately $2,760,634.80. This represents a 3.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ted L. Tewksbury III sold 5,800 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $15.36, for a total transaction of $89,088.00. Following the completion of the sale, the director now directly owns 69,717 shares of the company’s stock, valued at approximately $1,070,853.12. This represents a 7.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,900 shares of company stock valued at $276,078. Insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On MaxLinear

A number of institutional investors have recently bought and sold shares of MXL. Simplicity Wealth LLC raised its position in shares of MaxLinear by 3.1% in the 2nd quarter. Simplicity Wealth LLC now owns 19,283 shares of the semiconductor company’s stock worth $388,000 after acquiring an additional 579 shares in the last quarter. SG Americas Securities LLC lifted its position in MaxLinear by 39.5% during the second quarter. SG Americas Securities LLC now owns 12,184 shares of the semiconductor company’s stock valued at $245,000 after buying an additional 3,453 shares during the period. Louisiana State Employees Retirement System boosted its holdings in shares of MaxLinear by 3.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 38,000 shares of the semiconductor company’s stock valued at $765,000 after buying an additional 1,100 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of MaxLinear by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,535,449 shares of the semiconductor company’s stock worth $51,064,000 after buying an additional 128,585 shares during the period. Finally, Panagora Asset Management Inc. increased its stake in shares of MaxLinear by 229.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 210,700 shares of the semiconductor company’s stock worth $4,243,000 after acquiring an additional 146,754 shares in the last quarter. 90.79% of the stock is owned by institutional investors.

MaxLinear Stock Performance

NASDAQ MXL opened at $20.68 on Monday. MaxLinear has a 52-week low of $11.08 and a 52-week high of $26.59. The company has a fifty day moving average of $15.38 and a 200-day moving average of $16.09. The company has a market capitalization of $1.74 billion, a P/E ratio of -7.60 and a beta of 1.87. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.95.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.04). The firm had revenue of $81.10 million for the quarter, compared to the consensus estimate of $80.40 million. MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%. The company’s revenue for the quarter was down 40.2% on a year-over-year basis. During the same period last year, the firm earned ($0.02) EPS. As a group, equities research analysts predict that MaxLinear will post -1.66 EPS for the current fiscal year.

MaxLinear Company Profile

MaxLinear, Inc provides communications systems-on-chip solutions worldwide. Its products integrate various portions of a high-speed communication system, including radio frequency, high-performance analog, mixed-signal, digital signal processing, security engines, data compression and networking layers, and power management.