MaxLinear (NASDAQ:MXL) Given New $27.50 Price Target at Northland Securities

MaxLinear (NASDAQ:MXL) had its price target lifted by Northland Securities from $25.00 to $27.50 in a report released on Monday morning,Benzinga reports. Northland Securities currently has an outperform rating on the semiconductor company’s stock.

MXL has been the topic of several other reports. Benchmark increased their price objective 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. 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 report on Thursday, October 24th. Susquehanna downgraded MaxLinear from a “positive” rating to a “neutral” rating and decreased their target price for the company from $26.00 to $15.00 in a research report on Tuesday, October 1st. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a report on Thursday, October 24th. Finally, Wells Fargo & Company started coverage on MaxLinear in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $14.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, MaxLinear has an average rating of “Hold” and an average target price of $23.50.

MaxLinear Trading Down 0.7 %

Shares of NASDAQ:MXL opened at $20.47 on Monday. MaxLinear has a 52-week low of $11.08 and a 52-week high of $26.59. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.95. The company has a market capitalization of $1.73 billion, a P/E ratio of -7.53 and a beta of 1.79. The company has a 50-day simple moving average of $17.22 and a 200 day simple moving average of $16.31.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share (EPS) 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 business’s quarterly revenue was down 40.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.02) earnings per share. Sell-side analysts forecast that MaxLinear will post -1.66 earnings per share for the current year.

Insiders Place Their Bets

In other MaxLinear news, VP William Torgerson sold 6,100 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $15.40, for a total transaction of $93,940.00. Following the sale, the vice president now directly owns 179,262 shares in the company, valued at $2,760,634.80. This represents a 3.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Steven G. Litchfield sold 32,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $20.35, for a total transaction of $651,200.00. Following the completion of the transaction, the insider now owns 365,868 shares of the company’s stock, valued at $7,445,413.80. The trade was a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,900 shares of company stock worth $927,278 in the last 90 days. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On MaxLinear

Several institutional investors and hedge funds have recently added to or reduced their stakes in MXL. GAMMA Investing LLC lifted its position in shares of MaxLinear by 19.1% during the 4th quarter. GAMMA Investing LLC now owns 4,134 shares of the semiconductor company’s stock worth $82,000 after buying an additional 662 shares during the last quarter. JPMorgan Chase & Co. raised its stake in MaxLinear by 44.6% during the third quarter. JPMorgan Chase & Co. now owns 935,739 shares of the semiconductor company’s stock worth $13,550,000 after acquiring an additional 288,607 shares in the last quarter. Geode Capital Management LLC lifted its holdings 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 worth $26,152,000 after acquiring an additional 6,420 shares during the last quarter. Barclays PLC boosted its stake in shares of 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 purchasing an additional 108,346 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of MaxLinear by 4,298.1% during 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 purchasing an additional 20,502 shares during the last quarter. 90.79% of the stock is currently owned by institutional investors.

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.