MaxLinear, Inc. (NASDAQ:MXL) Receives $23.86 Average Price Target from Brokerages

MaxLinear, Inc. (NASDAQ:MXL) has been given an average rating of “Moderate Buy” by the seven research firms that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $23.86.

Several research analysts recently issued reports on the company. Benchmark reaffirmed a “buy” rating and set a $22.00 target price on shares of MaxLinear in a research report on Thursday, October 24th. Susquehanna lowered shares of MaxLinear from a “positive” rating to a “neutral” rating and reduced their target price for the stock from $26.00 to $15.00 in a research note on Tuesday, October 1st. Needham & Company LLC reiterated a “hold” rating on shares of MaxLinear in a report on Thursday, October 24th. Northland Securities cut their price target on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Finally, Craig Hallum decreased 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.

Insider Activity at MaxLinear

In related news, VP William Torgerson sold 6,100 shares of MaxLinear stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $15.40, for a total value of $93,940.00. Following the completion of the sale, the vice president now owns 179,262 shares of the company’s stock, valued at approximately $2,760,634.80. This trade represents a 3.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 8.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On MaxLinear

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in shares of MaxLinear by 0.4% in the third quarter. Geode Capital Management LLC now owns 1,805,722 shares of the semiconductor company’s stock valued at $26,152,000 after purchasing an additional 6,420 shares during the period. Barclays PLC grew its stake in MaxLinear by 47.6% in the 3rd quarter. Barclays PLC now owns 335,804 shares of the semiconductor company’s stock valued at $4,860,000 after buying an additional 108,346 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in MaxLinear by 4,298.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 20,979 shares of the semiconductor company’s stock valued at $304,000 after buying an additional 20,502 shares in the last quarter. Orion Portfolio Solutions LLC raised its holdings in MaxLinear by 35.7% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 32,259 shares of the semiconductor company’s stock valued at $467,000 after acquiring an additional 8,495 shares during the period. Finally, Two Sigma Advisers LP lifted its position in shares of MaxLinear by 21.8% during the third quarter. Two Sigma Advisers LP now owns 694,149 shares of the semiconductor company’s stock worth $10,051,000 after acquiring an additional 124,300 shares in the last quarter. Institutional investors own 90.79% of the company’s stock.

MaxLinear Trading Down 3.8 %

Shares of MaxLinear stock opened at $14.30 on Thursday. 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 has a 52 week low of $11.08 and a 52 week high of $26.59. The stock has a 50 day moving average price of $14.29 and a two-hundred day moving average price of $16.40. The stock has a market capitalization of $1.21 billion, a PE ratio of -5.26 and a beta of 1.85.

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