MaxLinear (NASDAQ:MXL) Price Target Raised to $19.00

MaxLinear (NASDAQ:MXL) had its target price raised by Wells Fargo & Company from $14.00 to $19.00 in a research report report published on Monday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the semiconductor company’s stock.

A number of other equities research analysts have also weighed in on the company. Benchmark lifted their price objective on MaxLinear from $22.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Susquehanna cut shares of MaxLinear from a “positive” rating to a “neutral” rating and cut their price target for the company from $26.00 to $15.00 in a report on Tuesday, October 1st. Northland Securities boosted their price objective on shares of MaxLinear from $25.00 to $27.50 and gave the company an “outperform” rating in a research report on Monday, January 6th. Craig Hallum dropped their target price on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of MaxLinear in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $24.21.

MaxLinear Trading Up 7.8 %

Shares of MXL opened at $22.31 on Monday. MaxLinear has a twelve month low of $11.08 and a twelve month 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 fifty day simple moving average of $18.20 and a two-hundred day simple moving average of $16.37.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.04). The firm had revenue of $81.10 million for the quarter, compared to the consensus estimate 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 revenue was down 40.2% on a year-over-year basis. During the same period last year, the company posted ($0.02) earnings per share. As a group, equities analysts predict that MaxLinear will post -1.66 earnings per share for the current fiscal year.

Insider Activity

In other news, VP William Torgerson sold 6,100 shares of MaxLinear stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $15.40, for a total transaction of $93,940.00. Following the completion of the transaction, the vice president now directly owns 179,262 shares in the company, valued at approximately $2,760,634.80. This trade represents a 3.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven G. Litchfield sold 32,000 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $7,445,413.80. This represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,900 shares of company stock worth $927,278. Corporate insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On MaxLinear

Several institutional investors and hedge funds have recently modified their holdings of MXL. Truvestments Capital LLC purchased a new stake in MaxLinear during the 3rd quarter valued at about $42,000. GAMMA Investing LLC grew its holdings in shares of 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 buying an additional 2,093 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of MaxLinear during the second quarter valued at approximately $56,000. CWM LLC increased its position in shares of MaxLinear by 321.3% during the third quarter. CWM LLC now owns 5,793 shares of the semiconductor company’s stock valued at $84,000 after acquiring an additional 4,418 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in MaxLinear by 20.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 7,761 shares of the semiconductor company’s stock worth $112,000 after acquiring an additional 1,308 shares during the last quarter. 90.79% of the stock is currently owned by institutional investors.

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.