MaxLinear, Inc. (NASDAQ:MXL) Given Average Rating of “Moderate Buy” by Brokerages

Shares of MaxLinear, Inc. (NASDAQ:MXL) have received an average rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $23.50.

A number of brokerages have issued reports on MXL. Susquehanna cut shares of MaxLinear from a “positive” rating to a “neutral” rating and reduced their price objective for the company from $26.00 to $15.00 in a research note on Tuesday, October 1st. Craig Hallum decreased their price objective on MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Wells Fargo & Company initiated coverage on MaxLinear in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $14.00 target price on the stock. Northland Securities boosted their price objective on shares of MaxLinear from $25.00 to $27.50 and gave the company an “outperform” rating in a report on Monday. Finally, Benchmark boosted their target price on MaxLinear from $22.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, December 9th.

Insider Transactions at MaxLinear

In other news, insider Steven G. Litchfield sold 32,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $20.35, for a total transaction of $651,200.00. Following the sale, the insider now owns 365,868 shares in the company, valued at $7,445,413.80. This represents a 8.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP William Torgerson sold 6,100 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $15.40, for a total transaction of $93,940.00. Following the completion of the transaction, the vice president now directly owns 179,262 shares of the company’s stock, valued at $2,760,634.80. This represents a 3.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,900 shares of company stock worth $927,278 in the last three months. Insiders own 8.60% of the company’s stock.

Institutional Trading of MaxLinear

Large investors have recently added to or reduced their stakes in the company. Hood River Capital Management LLC bought a new stake in shares of MaxLinear in the 2nd quarter valued at about $24,184,000. Vaughan Nelson Investment Management L.P. acquired a new position in MaxLinear during the third quarter worth approximately $16,696,000. Millennium Management LLC raised its stake in MaxLinear by 307.9% in the second quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company’s stock valued at $21,039,000 after buying an additional 788,558 shares during the period. FMR LLC lifted its position in shares of MaxLinear by 184.5% in the third quarter. FMR LLC now owns 456,929 shares of the semiconductor company’s stock valued at $6,616,000 after buying an additional 296,339 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of MaxLinear by 36.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,089,065 shares of the semiconductor company’s stock worth $15,770,000 after acquiring an additional 291,874 shares during the period. Institutional investors and hedge funds own 90.79% of the company’s stock.

MaxLinear Trading Up 3.1 %

MXL stock opened at $20.54 on Friday. The business has a fifty day moving average of $17.44 and a 200-day moving average of $16.34. The company has a market cap of $1.73 billion, a P/E ratio of -7.55 and a beta of 1.79. MaxLinear has a twelve month low of $11.08 and a twelve month high of $26.59. The company has a quick ratio of 1.38, a current ratio of 1.95 and a debt-to-equity ratio of 0.22.

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

About MaxLinear

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.