MaxLinear, Inc. (NASDAQ:MXL) Receives $23.14 Average Target Price from Analysts

Shares of MaxLinear, Inc. (NASDAQ:MXL) have received an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $23.14.

MXL has been the topic of a number of research reports. Benchmark raised their target price on shares of MaxLinear from $22.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Susquehanna lowered MaxLinear from a “positive” rating to a “neutral” rating and lowered their price objective 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 note on Thursday, October 24th. Wells Fargo & Company assumed coverage on shares of MaxLinear in a report on Friday, November 22nd. They issued an “equal weight” rating and a $14.00 price objective for the company. Finally, Craig Hallum reduced their target price on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th.

MaxLinear Stock Performance

Shares of NASDAQ:MXL opened at $20.61 on Friday. The business’s 50 day moving average price is $17.13 and its 200-day moving average price is $16.32. 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 $1.74 billion, a PE ratio of -7.58 and a beta of 1.79.

MaxLinear (NASDAQ:MXL) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). The business had revenue of $81.10 million during the quarter, compared to analyst estimates of $80.40 million. MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. MaxLinear’s quarterly revenue was down 40.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.02) earnings per share. As a group, equities research analysts expect that MaxLinear will post -1.66 earnings per share for the current fiscal year.

Insider Buying and Selling at MaxLinear

In other news, insider Steven G. Litchfield sold 32,000 shares of MaxLinear stock in a transaction on Friday, December 13th. The stock was sold at an average price of $20.35, for a total value of $651,200.00. Following the completion of the sale, the insider now directly owns 365,868 shares of the company’s stock, valued at approximately $7,445,413.80. The trade was a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Connie H. Kwong sold 5,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $18.61, for a total value of $93,050.00. Following the transaction, the insider now directly owns 49,147 shares in the company, valued at approximately $914,625.67. The trade was a 9.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,900 shares of company stock valued at $927,278 over the last 90 days. 8.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MXL. International Assets Investment Management LLC acquired a new stake in MaxLinear during the 2nd quarter worth approximately $31,000. Canada Pension Plan Investment Board acquired a new stake in shares of MaxLinear in the second quarter valued at $56,000. Truvestments Capital LLC purchased a new position in MaxLinear in the third quarter valued at $42,000. GAMMA Investing LLC grew its stake in MaxLinear by 151.8% during the 3rd 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, CWM LLC increased its holdings in MaxLinear by 321.3% during the 3rd quarter. CWM LLC now owns 5,793 shares of the semiconductor company’s stock worth $84,000 after purchasing an additional 4,418 shares during the period. 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.