MaxLinear (NASDAQ:MXL) Earns Equal Weight Rating from Analysts at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of MaxLinear (NASDAQ:MXL) in a research note issued to investors on Friday morning, Marketbeat.com reports. The brokerage issued an equal weight rating and a $14.00 target price on the semiconductor company’s stock.

Other equities analysts have also issued research reports about the stock. Craig Hallum cut their price target on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Northland Securities cut their target price on MaxLinear from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Susquehanna cut MaxLinear from a “positive” rating to a “neutral” rating and decreased their price target for the company from $26.00 to $15.00 in a research note on Tuesday, October 1st. Benchmark restated a “buy” rating and set a $22.00 price objective on shares of MaxLinear in a research report on Thursday, October 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of MaxLinear in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, MaxLinear presently has an average rating of “Hold” and a consensus target price of $22.29.

MaxLinear Stock Performance

Shares of MaxLinear stock opened at $15.54 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22. The company has a market cap of $1.31 billion, a PE ratio of -5.71 and a beta of 1.85. The company has a 50 day moving average of $14.40 and a 200-day moving average of $16.21. MaxLinear has a 1-year low of $11.08 and a 1-year high of $26.59.

MaxLinear (NASDAQ:MXL) last issued its earnings results 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). The business had revenue of $81.10 million during the quarter, compared to analyst estimates of $80.40 million. MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. The company’s revenue for the quarter was down 40.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.02) EPS. As a group, equities research analysts forecast that MaxLinear will post -1.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP William Torgerson sold 6,100 shares of the business’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 transaction, the vice president now owns 179,262 shares in the company, valued at $2,760,634.80. The trade was a 3.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MaxLinear

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in MaxLinear by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 12,253,823 shares of the semiconductor company’s stock valued at $228,779,000 after buying an additional 667,550 shares in the last quarter. State Street Corp increased its holdings in shares of MaxLinear by 5.1% during the third quarter. State Street Corp now owns 4,123,419 shares of the semiconductor company’s stock valued at $59,707,000 after acquiring an additional 198,791 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of MaxLinear by 5.3% during the second quarter. Bank of New York Mellon Corp now owns 2,535,449 shares of the semiconductor company’s stock worth $51,064,000 after purchasing an additional 128,585 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of MaxLinear by 10.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,071,183 shares of the semiconductor company’s stock worth $41,714,000 after purchasing an additional 192,021 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in MaxLinear by 0.4% in the 3rd 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. Institutional investors and hedge funds own 90.79% of the company’s stock.

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.