MaxLinear (NASDAQ:MXL) Price Target Raised to $27.50

MaxLinear (NASDAQ:MXL) had its target price upped by Northland Securities from $25.00 to $27.50 in a research report report published on Monday morning,Benzinga reports. The firm currently has an outperform rating on the semiconductor company’s stock.

Several other research analysts have also weighed in on the company. Susquehanna lowered MaxLinear from a “positive” rating to a “neutral” rating and cut their target price for the stock from $26.00 to $15.00 in a research report on Tuesday, October 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. Benchmark raised their price target on shares of MaxLinear from $22.00 to $28.00 and gave the company a “buy” rating in a report on Monday, December 9th. Wells Fargo & Company assumed coverage on shares of MaxLinear in a research note on Friday, November 22nd. They set an “equal weight” rating and a $14.00 price objective for the company. Finally, Craig Hallum cut their target price 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $23.50.

MaxLinear Stock Up 3.1 %

Shares of NASDAQ:MXL opened at $20.54 on Monday. MaxLinear has a 12-month low of $11.08 and a 12-month high of $26.59. The stock’s 50-day moving average price is $17.32 and its two-hundred day moving average price is $16.31. The company has a current ratio of 1.95, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of -7.55 and a beta of 1.79.

MaxLinear (NASDAQ:MXL) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). The company had revenue of $81.10 million during 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%. MaxLinear’s revenue for the quarter was down 40.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. On average, research analysts forecast that MaxLinear will post -1.66 EPS for the current year.

Insider Buying and Selling at MaxLinear

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 stock was sold at an average price of $15.40, for a total transaction of $93,940.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Connie H. Kwong sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $18.61, for a total value of $93,050.00. Following the completion of the sale, the insider now directly owns 49,147 shares in the company, valued at approximately $914,625.67. This trade represents a 9.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,900 shares of company stock worth $927,278 over the last quarter. 8.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MaxLinear

Large investors have recently added to or reduced their stakes in the stock. Hood River Capital Management LLC acquired a new position in shares of MaxLinear during the second quarter worth approximately $24,184,000. Vaughan Nelson Investment Management L.P. bought a new position in shares of MaxLinear in the third quarter worth $16,696,000. Millennium Management LLC increased its holdings in shares of MaxLinear by 307.9% during the second quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company’s stock valued at $21,039,000 after purchasing an additional 788,558 shares during the period. FMR LLC raised its stake in shares of MaxLinear by 184.5% during the third quarter. FMR LLC now owns 456,929 shares of the semiconductor company’s stock valued at $6,616,000 after purchasing an additional 296,339 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in MaxLinear by 36.6% in the third 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 during the period. 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.