MaxLinear, Inc (NASDAQ:MXL) Receives $85.00 Average Target Price from Analysts

MaxLinear, Inc (NASDAQ:MXL) has been assigned an average rating of “Hold” from the ten brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $85.00.

Several research firms have recently weighed in on MXL. Benchmark assumed coverage on shares of MaxLinear in a research note on Wednesday, May 27th. They set a “buy” rating and a $125.00 price target for the company. Needham & Company LLC increased their price objective on MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxLinear in a research report on Friday, July 17th. Northland Securities set a $110.00 target price on MaxLinear in a report on Wednesday, June 3rd. Finally, Wells Fargo & Company increased their price target on MaxLinear from $42.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, July 20th.

MaxLinear Trading Down 2.7%

MXL stock opened at $61.73 on Wednesday. The company has a market capitalization of $5.60 billion, a PE ratio of -51.87 and a beta of 3.95. MaxLinear has a 12 month low of $12.77 and a 12 month high of $128.30. The firm’s 50-day moving average is $79.84 and its 200 day moving average is $58.62. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.15.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings data on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. The company had revenue of $168.85 million during the quarter, compared to analysts’ expectations of $164.64 million. MaxLinear had a negative net margin of 18.24% and a positive return on equity of 2.24%. The firm’s quarterly revenue was up 55.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.02 EPS. On average, research analysts anticipate that MaxLinear will post 0.78 EPS for the current year.

Insider Buying and Selling at MaxLinear

In other news, CEO Kishore Seendripu sold 351,454 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $85.95, for a total value of $30,207,471.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.70% of the stock is owned by insiders.

Institutional Investors Weigh In On MaxLinear

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of MaxLinear in the 2nd quarter valued at about $1,754,062,000. California State Teachers Retirement System increased its holdings in MaxLinear by 12,029.5% in the 2nd quarter. California State Teachers Retirement System now owns 12,619,533 shares of the semiconductor company’s stock worth $1,615,679,000 after acquiring an additional 12,515,493 shares in the last quarter. Invesco Ltd. raised its position in shares of MaxLinear by 419.9% during the 4th quarter. Invesco Ltd. now owns 2,149,589 shares of the semiconductor company’s stock worth $37,467,000 after purchasing an additional 1,736,141 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of MaxLinear during the second quarter valued at approximately $165,221,000. Finally, AIGH Capital Management LLC acquired a new position in shares of MaxLinear during the second quarter valued at approximately $104,729,000. 90.79% of the stock is currently owned by institutional investors and hedge funds.

MaxLinear Company Profile

MaxLinear, Inc is a provider of radio-frequency (RF), analog, and mixed-signal integrated circuits for broadband communications, data center connectivity, and video infrastructure applications. The company’s product portfolio includes high-performance RF front-end modules, broadband power amplifiers, optical and Ethernet transceivers, and network processors designed to support demanding signal processing requirements.

MaxLinear’s semiconductor solutions are used by cable and satellite television operators, fiber-to-the-home service providers, network equipment manufacturers, and data center operators.