MaxLinear, Inc. (NASDAQ:MXL) Receives $23.86 Average Target Price from Analysts

MaxLinear, Inc. (NASDAQ:MXL) has received an average rating of “Moderate Buy” from the seven brokerages that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $23.86.

A number of brokerages have recently commented on MXL. Northland Securities reduced their target price on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Susquehanna lowered MaxLinear from a “positive” rating to a “neutral” rating and decreased their target price for the company from $26.00 to $15.00 in a research report on Tuesday, October 1st. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a research report on Thursday, October 24th. Benchmark restated a “buy” rating and issued a $22.00 price objective on shares of MaxLinear in a report on Thursday, October 24th. Finally, Craig Hallum lowered their price objective 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.

MaxLinear Stock Performance

Shares of MaxLinear stock opened at $14.07 on Thursday. MaxLinear has a 52 week low of $11.08 and a 52 week high of $26.59. The company has a market capitalization of $1.19 billion, a PE ratio of -5.17 and a beta of 1.85. The stock’s fifty day moving average is $14.29 and its two-hundred day moving average is $16.38. The company has a quick ratio of 1.38, a current ratio of 1.95 and a debt-to-equity ratio of 0.22.

MaxLinear (NASDAQ:MXL) last posted its quarterly 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). MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%. 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 company posted ($0.02) earnings per share. The company’s revenue for the quarter was down 40.2% on a year-over-year basis. As a group, analysts expect that MaxLinear will post -1.66 earnings per share for the current year.

Insiders Place Their Bets

In other MaxLinear news, VP William Torgerson sold 6,100 shares of the firm’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 completion of the sale, the vice president now directly owns 179,262 shares in the company, valued at $2,760,634.80. This trade represents a 3.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.60% of the stock is currently owned by corporate insiders.

Institutional Trading of MaxLinear

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC acquired a new position in MaxLinear during the 1st quarter valued at about $27,000. Innealta Capital LLC acquired a new position in shares of MaxLinear during the second quarter valued at about $30,000. International Assets Investment Management LLC acquired a new position in shares of MaxLinear during the second quarter valued at about $31,000. Canada Pension Plan Investment Board purchased a new position in shares of MaxLinear in the 2nd quarter valued at approximately $56,000. Finally, Truvestments Capital LLC acquired a new stake in MaxLinear in the 3rd quarter worth approximately $42,000. Hedge funds and other institutional investors own 90.79% of the company’s stock.

About MaxLinear

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.