MaxLinear, Inc (NASDAQ:MXL) Stock Has Consensus Target Price of $88.64

MaxLinear, Inc (NASDAQ:MXL) has been given a consensus recommendation of “Hold” by the nine analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $88.64.

A number of analysts have commented on the company. Wall Street Zen upgraded MaxLinear from a “hold” rating to a “buy” rating in a research report on Sunday, July 26th. Northland Securities set a $110.00 price target on MaxLinear in a research note on Wednesday, June 3rd. Needham & Company LLC boosted their price objective on shares of MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Stifel Nicolaus increased their price objective on shares of MaxLinear from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Finally, Roth Capital raised their target price on shares of MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a report on Friday, July 24th.

MaxLinear Trading Up 1.2%

Shares of MaxLinear stock opened at $85.31 on Friday. MaxLinear has a 12-month low of $12.77 and a 12-month high of $128.30. The company has a current ratio of 1.78, a quick ratio of 1.15 and a debt-to-equity ratio of 0.26. The stock has a market cap of $7.74 billion, a PE ratio of -71.69 and a beta of 3.93. The company has a 50-day moving average of $70.82 and a two-hundred day moving average of $65.93.

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

Insider Activity at MaxLinear

In other news, CEO Kishore Seendripu sold 351,454 shares of the firm’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 transaction of $30,207,471.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MaxLinear

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. HighTower Advisors LLC raised its stake in MaxLinear by 1.7% in the 4th quarter. HighTower Advisors LLC now owns 656,319 shares of the semiconductor company’s stock valued at $11,440,000 after purchasing an additional 10,948 shares during the last quarter. AIGH Capital Management LLC acquired a new stake in shares of MaxLinear during the 2nd quarter worth about $104,729,000. Assenagon Asset Management S.A. grew its holdings in shares of MaxLinear by 110.9% during the second quarter. Assenagon Asset Management S.A. now owns 221,266 shares of the semiconductor company’s stock worth $28,329,000 after buying an additional 116,339 shares in the last quarter. UNICOM Systems Inc. purchased a new stake in shares of MaxLinear during the second quarter worth about $14,711,000. Finally, BlackRock Inc. acquired a new position in shares of MaxLinear in the second quarter valued at approximately $1,754,062,000. Hedge funds and other institutional investors own 90.79% of the company’s stock.

MaxLinear Company Profile

MaxLinear, Inc is a fabless semiconductor company that designs and develops high-performance analog and mixed-signal integrated circuits. Its products are used in broadband communications, wired and wireless infrastructure, data center, networking, and industrial applications.

The company’s portfolio includes solutions for broadband access and connectivity, including cable and fiber-optic infrastructure, Ethernet and high-speed interconnects, optical communications, power management, interface products, and embedded processors.