MaxLinear (NASDAQ:MXL) Now Covered by Wells Fargo & Company

Wells Fargo & Company began coverage on shares of MaxLinear (NASDAQ:MXL) in a research note released on Friday, MarketBeat reports. The brokerage issued an equal weight rating and a $14.00 price target on the semiconductor company’s stock.

MXL has been the topic of several other research reports. Craig Hallum dropped their price objective on MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Susquehanna downgraded MaxLinear from a “positive” rating to a “neutral” rating and dropped their price target for the stock from $26.00 to $15.00 in a research note on Tuesday, October 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a research report on Thursday, October 24th. Northland Securities decreased their price objective on MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Finally, Benchmark reaffirmed a “buy” rating and issued a $22.00 target price on shares of MaxLinear in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $22.29.

MaxLinear Price Performance

Shares of NASDAQ MXL opened at $15.87 on Friday. The stock’s 50-day simple moving average is $14.40 and its 200-day simple moving average is $16.21. The firm has a market capitalization of $1.34 billion, a PE ratio of -5.89 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. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.95.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings data 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). The company had revenue of $81.10 million for the quarter, compared to analysts’ expectations of $80.40 million. MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%. The firm’s quarterly revenue was down 40.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.02) EPS. As a group, equities research analysts forecast that MaxLinear will post -1.66 EPS for the current fiscal year.

Insider Activity

In other MaxLinear news, VP William Torgerson sold 6,100 shares of the business’s stock in a transaction that occurred 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 owns 179,262 shares in the company, valued at approximately $2,760,634.80. The trade was a 3.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ted L. Tewksbury III sold 5,800 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $15.36, for a total value of $89,088.00. Following the completion of the sale, the director now directly owns 69,717 shares of the company’s stock, valued at $1,070,853.12. This represents a 7.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On MaxLinear

Several institutional investors have recently made changes to their positions in the stock. Innealta Capital LLC purchased a new stake in shares of MaxLinear during the 2nd quarter worth approximately $30,000. International Assets Investment Management LLC acquired a new position in MaxLinear during the second quarter worth $31,000. Truvestments Capital LLC acquired a new position in MaxLinear during the third quarter worth $42,000. GAMMA Investing LLC boosted its position in MaxLinear by 151.8% during the third quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 2,093 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in MaxLinear in the second quarter valued at $56,000. 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.