MaxLinear (NASDAQ:MXL) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

MaxLinear (NASDAQ:MXL) had its target price increased by investment analysts at Wells Fargo & Company from $14.00 to $19.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s price target points to a potential downside of 7.59% from the company’s previous close.

MXL has been the subject of a number of other reports. Benchmark upped their price target on shares of MaxLinear from $22.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Northland Securities boosted their target price on shares of MaxLinear from $25.00 to $27.50 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Craig Hallum lowered their price target 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. Needham & Company LLC reiterated a “hold” rating on shares of MaxLinear in a report on Thursday, October 24th. Finally, Susquehanna downgraded MaxLinear from a “positive” rating to a “neutral” rating and lowered their target price for the company from $26.00 to $15.00 in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $24.21.

MaxLinear Trading Down 0.3 %

MXL traded down $0.07 during trading on Monday, hitting $20.56. The company’s stock had a trading volume of 315,093 shares, compared to its average volume of 1,111,037. MaxLinear has a twelve month low of $11.08 and a twelve month high of $26.59. The firm’s 50 day moving average price is $17.73 and its 200-day moving average price is $16.32. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.95 and a quick ratio of 1.38. The stock has a market cap of $1.73 billion, a PE ratio of -7.56 and a beta of 1.79.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.04). The business had revenue of $81.10 million during the quarter, compared to analysts’ expectations of $80.40 million. MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. The firm’s quarterly revenue was down 40.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.02) EPS. On average, analysts expect that MaxLinear will post -1.66 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Steven G. Litchfield sold 32,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 365,868 shares in the company, valued at $7,445,413.80. This trade represents a 8.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Connie H. Kwong sold 5,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $18.61, for a total value of $93,050.00. Following the transaction, the insider now directly owns 49,147 shares in the company, valued at $914,625.67. This trade represents a 9.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,900 shares of company stock worth $927,278. Corporate insiders own 8.60% of the company’s stock.

Institutional Trading of MaxLinear

A number of hedge funds have recently bought and sold shares of the company. Truvestments Capital LLC purchased a new stake in shares of MaxLinear in the 3rd quarter valued at approximately $42,000. GAMMA Investing LLC raised its stake in MaxLinear by 151.8% during the 3rd quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 2,093 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of MaxLinear in the second quarter valued at $56,000. CWM LLC lifted its stake in MaxLinear by 321.3% in the 3rd quarter. CWM LLC now owns 5,793 shares of the semiconductor company’s stock worth $84,000 after acquiring an additional 4,418 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in MaxLinear by 20.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 7,761 shares of the semiconductor company’s stock worth $112,000 after acquiring an additional 1,308 shares during the period. 90.79% of the stock is 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.