MaxLinear, Inc. (NASDAQ:MXL) Receives $22.29 Consensus Target Price from Analysts

Shares of MaxLinear, Inc. (NASDAQ:MXL) have been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $23.14.

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

MaxLinear Stock Performance

MXL opened at $20.68 on Monday. The firm’s fifty day simple moving average is $15.38 and its two-hundred day simple moving average is $16.06. MaxLinear has a 52-week low of $11.08 and a 52-week high of $26.59. The company has a market cap of $1.74 billion, a price-to-earnings ratio of -7.60 and a beta of 1.87. 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 issued its quarterly 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). MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. The company had revenue of $81.10 million during the quarter, compared to analysts’ expectations of $80.40 million. During the same period in the prior year, the business posted ($0.02) earnings per share. The company’s quarterly revenue was down 40.2% compared to the same quarter last year. Equities analysts anticipate that MaxLinear will post -1.66 earnings per share for the current fiscal year.

Insider Transactions at MaxLinear

In other MaxLinear news, VP William Torgerson sold 6,100 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $15.40, for a total transaction of $93,940.00. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Connie H. Kwong sold 5,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $18.61, for a total value of $93,050.00. Following the transaction, the insider now owns 49,147 shares of the company’s stock, valued at approximately $914,625.67. This represents a 9.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,900 shares of company stock worth $276,078. 8.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MaxLinear

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp increased its stake in MaxLinear by 5.1% during the 3rd quarter. State Street Corp now owns 4,123,419 shares of the semiconductor company’s stock worth $59,707,000 after buying an additional 198,791 shares during the period. Bank of New York Mellon Corp raised its stake in shares of MaxLinear by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 2,535,449 shares of the semiconductor company’s stock valued at $51,064,000 after acquiring an additional 128,585 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of MaxLinear by 10.2% in 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 acquiring an additional 192,021 shares in the last quarter. Geode Capital Management LLC grew its stake in MaxLinear by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,805,722 shares of the semiconductor company’s stock worth $26,152,000 after purchasing an additional 6,420 shares in the last quarter. Finally, Hood River Capital Management LLC purchased a new stake in MaxLinear during the 2nd quarter worth about $24,184,000. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

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.