Northland Securities Increases MaxLinear (NASDAQ:MXL) Price Target to $27.50

MaxLinear (NASDAQ:MXL) had its price objective raised by equities research analysts at Northland Securities from $25.00 to $27.50 in a report released on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the semiconductor company’s stock. Northland Securities’ price target would indicate a potential upside of 33.43% from the stock’s current price.

Other analysts also recently issued research reports about the company. Craig Hallum decreased their target price on MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Benchmark increased their price objective on MaxLinear from $22.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Wells Fargo & Company assumed coverage on shares of MaxLinear in a research note on Friday, November 22nd. They set an “equal weight” rating and a $14.00 target price for the company. Needham & Company LLC restated a “hold” rating on shares of MaxLinear in a research report on Thursday, October 24th. Finally, Susquehanna lowered shares of MaxLinear from a “positive” rating to a “neutral” rating and cut their price objective for the company from $26.00 to $15.00 in a research report on Tuesday, October 1st. One 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 company. Based on data from MarketBeat.com, MaxLinear presently has a consensus rating of “Hold” and a consensus price target of $23.50.

MaxLinear Stock Up 5.3 %

Shares of MaxLinear stock opened at $20.61 on Monday. MaxLinear has a 12-month low of $11.08 and a 12-month high of $26.59. The company has a quick ratio of 1.38, a current ratio of 1.95 and a debt-to-equity ratio of 0.22. The stock has a 50 day moving average price of $17.13 and a two-hundred day moving average price of $16.32. The stock has a market capitalization of $1.74 billion, a P/E ratio of -7.58 and a beta of 1.79.

MaxLinear (NASDAQ:MXL) last posted its earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). The firm 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%. The business’s quarterly revenue was down 40.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.02) earnings per share. Equities analysts expect that MaxLinear will post -1.66 earnings per share for the current year.

Insider Buying and Selling

In related news, VP William Torgerson sold 6,100 shares of the 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 sale, the vice president now directly owns 179,262 shares in the company, valued at $2,760,634.80. This represents a 3.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven G. Litchfield sold 32,000 shares of the business’s 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 transaction, the insider now directly owns 365,868 shares in the company, valued at approximately $7,445,413.80. This 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 90 days. 8.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in shares of MaxLinear by 19.1% during the fourth quarter. GAMMA Investing LLC now owns 4,134 shares of the semiconductor company’s stock worth $82,000 after purchasing an additional 662 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in MaxLinear by 20.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 7,761 shares of the semiconductor company’s stock worth $112,000 after buying an additional 1,308 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in MaxLinear by 12.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,046 shares of the semiconductor company’s stock valued at $334,000 after buying an additional 2,618 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in MaxLinear in the 2nd quarter valued at $56,000. Finally, Truvestments Capital LLC bought a new stake in shares of MaxLinear during the third quarter worth $42,000. 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.