Analysts Set MaxLinear, Inc. (NYSE:MXL) Target Price at $23.50

Shares of MaxLinear, Inc. (NYSE:MXL) have earned an average rating of “Hold” from the nine analysts that are currently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $23.50.

A number of research analysts have recently issued reports on the stock. Needham & Company LLC cut shares of MaxLinear from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Susquehanna lowered shares of MaxLinear from a “positive” rating to a “neutral” rating and reduced their target price for the stock from $26.00 to $15.00 in a research note on Tuesday, October 1st. Craig Hallum dropped their price target on shares of MaxLinear from $38.00 to $28.00 and set a “hold” rating on the stock in a research report on Thursday, July 25th. Northland Securities decreased their price objective on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Finally, Benchmark reduced their target price on MaxLinear from $28.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, July 25th.

MaxLinear Price Performance

MXL stock opened at $14.50 on Friday. MaxLinear has a 1 year low of $11.08 and a 1 year high of $26.59. The stock has a market capitalization of $1.21 billion, a PE ratio of -7.67 and a beta of 1.83. The company’s 50-day moving average is $13.70 and its 200-day moving average is $17.20. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.09 and a quick ratio of 1.59.

MaxLinear (NYSE:MXL) last announced its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $92.00 million during the quarter, compared to analyst estimates of $100.25 million. During the same period last year, the business posted $0.19 EPS. The company’s revenue was down 50.0% on a year-over-year basis. Equities research analysts expect that MaxLinear will post -1.74 EPS for the current fiscal year.

Insider Buying and Selling

In other MaxLinear news, CEO Kishore Seendripu bought 108,303 shares of the stock in a transaction on Tuesday, July 30th. The shares were acquired at an average price of $12.94 per share, with a total value of $1,401,440.82. Following the acquisition, the chief executive officer now directly owns 531,937 shares of the company’s stock, valued at $6,883,264.78. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.60% of the stock is owned by insiders.

Institutional Investors Weigh In On MaxLinear

Institutional investors and hedge funds have recently modified their holdings of the company. Headlands Technologies LLC bought a new position in shares of MaxLinear in the first quarter worth $27,000. Innealta Capital LLC purchased a new stake in MaxLinear in the second quarter valued at approximately $30,000. International Assets Investment Management LLC bought a new stake in MaxLinear during the second quarter valued at approximately $31,000. GAMMA Investing LLC lifted 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 valued at $50,000 after purchasing an additional 2,093 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in MaxLinear in the 2nd quarter worth approximately $56,000. 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.