Brokerages Set MaxLinear, Inc. (NASDAQ:MXL) Price Target at $23.86

Shares of MaxLinear, Inc. (NASDAQ:MXL) have earned an average recommendation of “Moderate Buy” from the seven analysts that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $23.86.

Several brokerages recently issued reports on MXL. Northland Securities reduced their target price on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Needham & Company LLC reiterated a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. Craig Hallum lowered their target price on MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Susquehanna cut MaxLinear from a “positive” rating to a “neutral” rating and reduced their price target for the company from $26.00 to $15.00 in a research report on Tuesday, October 1st. Finally, Benchmark restated a “buy” rating and issued a $22.00 price objective on shares of MaxLinear in a research report on Thursday, October 24th.

MaxLinear Stock Down 1.6 %

MaxLinear stock opened at $14.07 on Thursday. The business’s 50-day simple moving average is $14.29 and its two-hundred day simple moving average is $16.38. 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 cap of $1.19 billion, a PE ratio of -5.17 and a beta of 1.85. MaxLinear has a fifty-two week low of $11.08 and a fifty-two week high of $26.59.

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 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 business had revenue of $81.10 million during the quarter, compared to analyst estimates of $80.40 million. During the same quarter last year, the company posted ($0.02) EPS. MaxLinear’s quarterly revenue was down 40.2% compared to the same quarter last year. Equities analysts anticipate that MaxLinear will post -1.66 EPS for the current year.

Insider Activity at MaxLinear

In related news, VP William Torgerson sold 6,100 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $15.40, for a total value of $93,940.00. Following the transaction, the vice president now directly owns 179,262 shares of the company’s stock, valued at approximately $2,760,634.80. This trade represents a 3.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MaxLinear

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of MaxLinear by 5.8% during the first quarter. Vanguard Group Inc. now owns 12,253,823 shares of the semiconductor company’s stock worth $228,779,000 after buying an additional 667,550 shares in the last quarter. State Street Corp boosted its position in MaxLinear by 5.1% during the third quarter. State Street Corp now owns 4,123,419 shares of the semiconductor company’s stock worth $59,707,000 after acquiring an additional 198,791 shares during the last quarter. Bank of New York Mellon Corp grew its stake in MaxLinear by 5.3% during the 2nd 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 holdings in MaxLinear by 10.2% in the 2nd 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 during the last quarter. Finally, Geode Capital Management LLC lifted its stake in MaxLinear by 0.4% in 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. Institutional investors and hedge funds own 90.79% of the company’s stock.

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.