MaxLinear (NASDAQ:MXL) Price Target Raised to $19.00 at Wells Fargo & Company

MaxLinear (NASDAQ:MXL) had its price target lifted by stock analysts at Wells Fargo & Company from $14.00 to $19.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 7.59% from the stock’s current price.

A number of other equities research analysts have also weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. Craig Hallum cut their price target on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Susquehanna downgraded 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. Northland Securities lifted their price objective on shares of MaxLinear from $25.00 to $27.50 and gave the company an “outperform” rating in a research note on Monday, January 6th. Finally, Benchmark increased their price target on MaxLinear from $22.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $24.21.

MaxLinear Trading Down 0.3 %

NASDAQ MXL traded down $0.07 during trading hours on Monday, hitting $20.56. 315,093 shares of the company were exchanged, compared to its average volume of 1,111,037. The stock has a market cap of $1.73 billion, a PE ratio of -7.56 and a beta of 1.79. 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 $17.73 and a 200 day moving average price of $16.32. MaxLinear has a 52 week low of $11.08 and a 52 week high of $26.59.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.04). The business had revenue of $81.10 million for the quarter, compared to analysts’ expectations 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 period in the previous year, the business earned ($0.02) earnings per share. Analysts forecast 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 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 transaction, the vice president now directly owns 179,262 shares in the company, valued at approximately $2,760,634.80. This represents a 3.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Connie H. Kwong sold 5,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $18.61, for a total transaction of $93,050.00. Following the transaction, the insider now owns 49,147 shares of the company’s stock, valued at approximately $914,625.67. The trade was a 9.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,900 shares of company stock valued at $927,278. 8.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MaxLinear

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MXL. Truvestments Capital LLC acquired a new stake in MaxLinear during the 3rd quarter worth $42,000. GAMMA Investing LLC grew its position 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 worth $50,000 after acquiring an additional 2,093 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of MaxLinear during the second quarter worth approximately $56,000. CWM LLC raised its position in MaxLinear by 321.3% in the 3rd quarter. CWM LLC now owns 5,793 shares of the semiconductor company’s stock valued at $84,000 after purchasing an additional 4,418 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position 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 purchasing an additional 1,308 shares during the last quarter. 90.79% of the stock is owned by institutional investors and hedge funds.

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.