MaxLinear, Inc. (NASDAQ:MXL) Receives $23.14 Average Target Price from Brokerages

MaxLinear, Inc. (NASDAQ:MXL) has been given an average recommendation of “Moderate Buy” by the seven ratings firms that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $23.14.

Several research analysts recently issued reports on MXL shares. Susquehanna lowered MaxLinear from a “positive” rating to a “neutral” rating and reduced their target price for the company from $26.00 to $15.00 in a research report on Tuesday, October 1st. Needham & Company LLC restated a “hold” rating on shares of MaxLinear in a report on Thursday, October 24th. Wells Fargo & Company started coverage on shares of MaxLinear in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $14.00 target price for the company. 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 note on Monday, December 9th. Finally, Craig Hallum lowered 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 Transactions at MaxLinear

In other news, insider Steven G. Litchfield sold 32,000 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $20.35, for a total value 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP William Torgerson sold 6,100 shares of the firm’s 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 sale, the vice president now directly owns 179,262 shares in the company, valued at approximately $2,760,634.80. This trade represents a 3.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,900 shares of company stock worth $927,278 over the last 90 days. 8.60% of the stock is currently owned by company insiders.

Institutional Trading of MaxLinear

Hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new stake in MaxLinear in the second quarter valued at approximately $31,000. Rhumbline Advisers grew its stake in MaxLinear by 2.2% in the 2nd quarter. Rhumbline Advisers now owns 222,267 shares of the semiconductor company’s stock valued at $4,476,000 after acquiring an additional 4,760 shares during the period. Acadian Asset Management LLC purchased a new stake in MaxLinear in the 2nd quarter worth $540,000. Quest Partners LLC raised its position in MaxLinear by 63,036.7% during the second quarter. Quest Partners LLC now owns 18,941 shares of the semiconductor company’s stock worth $381,000 after acquiring an additional 18,911 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in MaxLinear by 10.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,071,183 shares of the semiconductor company’s stock valued at $41,714,000 after purchasing an additional 192,021 shares in the last quarter. 90.79% of the stock is owned by hedge funds and other institutional investors.

MaxLinear Stock Up 5.3 %

MaxLinear stock opened at $20.61 on Friday. MaxLinear has a twelve month low of $11.08 and a twelve month high of $26.59. The business has a fifty day moving average of $17.13 and a two-hundred day moving average of $16.32. The firm has a market cap of $1.74 billion, a P/E ratio of -7.58 and a beta of 1.79. 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 posted its earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) EPS 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 firm had revenue of $81.10 million for the quarter, compared to analysts’ expectations of $80.40 million. During the same period in the previous year, the company earned ($0.02) EPS. The company’s revenue was down 40.2% on a year-over-year basis. On average, analysts forecast 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.