MaxLinear, Inc. (NYSE:MXL) Receives $24.67 Average Price Target from Brokerages

MaxLinear, Inc. (NYSE:MXL) has been given an average rating of “Hold” by the ten ratings firms that are covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $23.44.

MXL has been the topic of several analyst reports. Susquehanna lowered MaxLinear from a “positive” rating to a “neutral” rating and cut their target price for the company from $26.00 to $15.00 in a research note on Tuesday. Stifel Nicolaus lifted their target price on MaxLinear from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Craig Hallum cut their target price on MaxLinear from $38.00 to $28.00 and set a “hold” rating on the stock in a research note on Thursday, July 25th. Benchmark cut their price objective on shares of MaxLinear from $28.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Finally, Northland Securities cut their price objective on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th.

Insider Activity at MaxLinear

In other news, CEO Kishore Seendripu bought 108,303 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The shares were purchased at an average price of $12.94 per share, for a total transaction of $1,401,440.82. Following the completion of the transaction, the chief executive officer now directly owns 531,937 shares in the company, valued at $6,883,264.78. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.60% of the stock is owned by insiders.

Institutional Investors Weigh In On MaxLinear

Large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in MaxLinear by 7.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,912,731 shares of the semiconductor company’s stock worth $45,469,000 after purchasing an additional 137,698 shares in the last quarter. US Bancorp DE boosted its position in MaxLinear by 491.6% in the 4th quarter. US Bancorp DE now owns 31,152 shares of the semiconductor company’s stock worth $740,000 after purchasing an additional 25,886 shares in the last quarter. Hsbc Holdings PLC boosted its position in MaxLinear by 36.6% in the 4th quarter. Hsbc Holdings PLC now owns 155,056 shares of the semiconductor company’s stock worth $3,689,000 after purchasing an additional 41,559 shares in the last quarter. Aristides Capital LLC purchased a new stake in MaxLinear in the 4th quarter worth approximately $312,000. Finally, Vanguard Group Inc. boosted its position in MaxLinear by 8.5% in the 4th quarter. Vanguard Group Inc. now owns 11,586,273 shares of the semiconductor company’s stock worth $275,406,000 after purchasing an additional 903,235 shares in the last quarter. Hedge funds and other institutional investors own 90.79% of the company’s stock.

MaxLinear Stock Performance

Shares of MaxLinear stock opened at $12.73 on Wednesday. The firm has a market cap of $1.06 billion, a P/E ratio of -6.74 and a beta of 1.84. The company has a current ratio of 2.09, a quick ratio of 1.59 and a debt-to-equity ratio of 0.20. MaxLinear has a 12 month low of $11.08 and a 12 month high of $26.59. The stock’s fifty day moving average price is $13.69 and its 200-day moving average price is $17.80.

MaxLinear (NYSE:MXL) last posted its earnings results on Wednesday, July 24th. The semiconductor company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.06). MaxLinear had a negative net margin of 42.38% and a negative return on equity of 12.39%. The company had revenue of $92.00 million during the quarter, compared to analysts’ expectations of $100.25 million. During the same quarter last year, the firm earned $0.19 EPS. MaxLinear’s revenue for the quarter was down 50.0% on a year-over-year basis. On average, equities research analysts expect that MaxLinear will post -1.6 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.