Brokerages Set MaxLinear, Inc. (NASDAQ:MXL) Target Price at $23.14

MaxLinear, Inc. (NASDAQ:MXL) has been given a consensus rating of “Moderate Buy” by the seven brokerages that are currently covering the company, MarketBeat.com reports. Three investment 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 brokers that have updated their coverage on the stock in the last year is $23.50.

MXL has been the topic of several recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of MaxLinear in a report on Thursday, October 24th. Benchmark increased 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. Northland Securities raised their target price on MaxLinear from $25.00 to $27.50 and gave the stock an “outperform” rating in a research note on Monday. Craig Hallum decreased their price target on MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Finally, Wells Fargo & Company began coverage on MaxLinear in a research report on Friday, November 22nd. They set an “equal weight” rating and a $14.00 price objective for the company.

MaxLinear Price Performance

MXL stock opened at $19.93 on Friday. MaxLinear has a 1 year low of $11.08 and a 1 year high of $26.59. 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 firm has a market capitalization of $1.68 billion, a PE ratio of -7.33 and a beta of 1.79. The business has a 50 day simple moving average of $17.32 and a 200-day simple moving average of $16.31.

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). MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%. The company had revenue of $81.10 million for the quarter, compared to analysts’ expectations of $80.40 million. During the same quarter in the prior year, the firm earned ($0.02) EPS. The firm’s revenue was down 40.2% on a year-over-year basis. Equities research analysts anticipate that MaxLinear will post -1.66 earnings per share for the current fiscal year.

Insider Activity at MaxLinear

In related news, Director Ted L. Tewksbury III sold 5,800 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $15.36, for a total transaction of $89,088.00. Following the completion of the transaction, the director now directly owns 69,717 shares of the company’s stock, valued at $1,070,853.12. The trade was a 7.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Steven G. Litchfield sold 32,000 shares of the firm’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 sale, the insider now directly owns 365,868 shares in the company, valued at approximately $7,445,413.80. This trade represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,900 shares of company stock worth $927,278 in the last three months. 8.60% of the stock is owned by company insiders.

Institutional Trading of MaxLinear

A number of hedge funds and other institutional investors have recently bought and sold shares of MXL. International Assets Investment Management LLC acquired a new position in MaxLinear in the second quarter valued at approximately $31,000. Rhumbline Advisers grew its position in shares of 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 buying an additional 4,760 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in MaxLinear during the 2nd quarter worth $540,000. Quest Partners LLC lifted its position in MaxLinear by 63,036.7% in the second quarter. Quest Partners LLC now owns 18,941 shares of the semiconductor company’s stock valued at $381,000 after acquiring an additional 18,911 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in 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. 90.79% of the stock is currently owned by institutional investors and hedge funds.

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.