Wells Fargo & Company Issues Positive Forecast for MaxLinear (NASDAQ:MXL) Stock Price

MaxLinear (NASDAQ:MXL) had its target price boosted by equities researchers at Wells Fargo & Company from $14.00 to $19.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s price target suggests a potential downside of 8.21% from the stock’s previous close.

Several other research analysts have also weighed in on MXL. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a research report on Thursday, October 24th. Northland Securities upped their price target on shares of MaxLinear from $25.00 to $27.50 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Craig Hallum cut their price target on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Susquehanna lowered shares of 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. Finally, Benchmark raised their target price on shares of MaxLinear from $22.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $24.21.

MaxLinear Stock Down 3.5 %

MaxLinear stock opened at $20.70 on Monday. The company has a current ratio of 1.95, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22. MaxLinear has a 1-year low of $11.08 and a 1-year high of $26.59. The company has a fifty day simple moving average of $18.05 and a 200 day simple moving average of $16.33. The company has a market cap of $1.75 billion, a P/E ratio of -7.61 and a beta of 1.79.

MaxLinear (NASDAQ:MXL) last announced 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). MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. The company had revenue of $81.10 million during the quarter, compared to the consensus estimate of $80.40 million. During the same quarter in the previous year, the business earned ($0.02) EPS. MaxLinear’s revenue was down 40.2% on a year-over-year basis. Research analysts anticipate that MaxLinear will post -1.66 earnings per share for the current fiscal year.

Insider Transactions at MaxLinear

In other MaxLinear news, VP William Torgerson sold 6,100 shares of the stock in a transaction 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 $2,760,634.80. This trade represents a 3.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 sale, the insider now directly owns 365,868 shares of the company’s stock, valued at $7,445,413.80. This represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,900 shares of company stock worth $927,278. 8.60% of the stock is owned by insiders.

Hedge Funds Weigh In On MaxLinear

Several institutional investors and hedge funds have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. increased its stake in MaxLinear by 5,114.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 126,863 shares of the semiconductor company’s stock worth $1,837,000 after acquiring an additional 124,430 shares during the period. Quantbot Technologies LP increased its position in shares of MaxLinear by 111.7% in the third quarter. Quantbot Technologies LP now owns 66,363 shares of the semiconductor company’s stock worth $961,000 after purchasing an additional 35,018 shares during the period. Two Sigma Advisers LP raised its stake in MaxLinear by 21.8% in the third quarter. Two Sigma Advisers LP now owns 694,149 shares of the semiconductor company’s stock valued at $10,051,000 after purchasing an additional 124,300 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in MaxLinear in the third quarter valued at about $16,696,000. Finally, Mirabella Financial Services LLP bought a new stake in MaxLinear during the third quarter worth about $551,000. 90.79% of the stock is currently owned by institutional investors and hedge funds.

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.