MaxLinear (NASDAQ:MXL) Stock Price Expected to Rise, Susquehanna Analyst Says

MaxLinear (NASDAQ:MXL) had its price target upped by stock analysts at Susquehanna from $20.00 to $25.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. Susquehanna’s target price would indicate a potential upside of 4.17% from the company’s previous close.

A number of other analysts have also issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. Wells Fargo & Company increased their target price on shares of MaxLinear from $14.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Benchmark upped 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. Northland Securities lifted their target price on MaxLinear from $25.00 to $27.50 and gave the company an “outperform” rating in a report on Monday, January 6th. Finally, Craig Hallum cut their price target on MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $25.64.

MaxLinear Stock Performance

NASDAQ:MXL opened at $24.00 on Wednesday. MaxLinear has a fifty-two week low of $11.08 and a fifty-two week high of $26.59. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.95. The company has a 50 day moving average price of $19.05 and a 200 day moving average price of $16.46. The stock has a market capitalization of $2.02 billion, a P/E ratio of -8.82 and a beta of 1.79.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $81.10 million during the quarter, compared to analyst estimates of $80.40 million. During the same period in the previous year, the firm posted ($0.02) earnings per share. The company’s quarterly revenue was down 40.2% compared to the same quarter last year. Equities research analysts forecast that MaxLinear will post -1.66 EPS for the current year.

Insider Transactions at MaxLinear

In other MaxLinear news, insider Connie H. Kwong sold 5,000 shares of MaxLinear stock in a transaction on Wednesday, December 4th. The shares were 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP William Torgerson sold 6,100 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $15.40, for a total value of $93,940.00. Following the sale, the vice president now directly owns 179,262 shares of the company’s stock, valued at approximately $2,760,634.80. This represents a 3.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,900 shares of company stock valued at $927,278. 8.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MaxLinear

Several hedge funds have recently modified their holdings of MXL. Vaughan Nelson Investment Management L.P. acquired a new position in MaxLinear during the 3rd quarter worth approximately $16,696,000. Assenagon Asset Management S.A. raised its position in MaxLinear by 339.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,250,769 shares of the semiconductor company’s stock worth $24,740,000 after acquiring an additional 966,468 shares in the last quarter. Millennium Management LLC lifted its holdings in MaxLinear by 307.9% in the second quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company’s stock valued at $21,039,000 after acquiring an additional 788,558 shares during the period. FMR LLC boosted its position in shares of MaxLinear by 184.5% during the 3rd quarter. FMR LLC now owns 456,929 shares of the semiconductor company’s stock worth $6,616,000 after purchasing an additional 296,339 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of MaxLinear by 36.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,089,065 shares of the semiconductor company’s stock worth $15,770,000 after purchasing an additional 291,874 shares in the last quarter. 90.79% of the stock is 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.