Wells Fargo & Company Boosts MaxLinear (NASDAQ:MXL) Price Target to $20.00

MaxLinear (NASDAQ:MXL) had its price target increased by Wells Fargo & Company from $19.00 to $20.00 in a report published on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the semiconductor company’s stock.

MXL has been the subject of a number of other research reports. Northland Securities boosted their target price on MaxLinear from $25.00 to $27.50 and gave the company an “outperform” rating in a research note on Monday, January 6th. Susquehanna increased their price objective on MaxLinear from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Needham & Company LLC restated a “hold” rating on shares of MaxLinear in a research note on Thursday. Craig Hallum decreased their target price on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Finally, Benchmark boosted their target price on shares of MaxLinear from $22.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $25.50.

MaxLinear Price Performance

MaxLinear stock opened at $17.47 on Thursday. 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 50 day simple moving average of $19.80 and a 200-day simple moving average of $16.44. MaxLinear has a 12-month low of $11.08 and a 12-month high of $26.59.

MaxLinear (NASDAQ:MXL) last released its earnings results on Wednesday, January 29th. The semiconductor company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.14). MaxLinear had a negative return on equity of 21.15% and a negative net margin of 68.01%. Equities analysts anticipate that MaxLinear will post -0.21 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Connie H. Kwong sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $18.61, for a total transaction of $93,050.00. Following the sale, the insider now owns 49,147 shares of the company’s stock, valued at $914,625.67. This trade represents a 9.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Steven G. Litchfield sold 32,000 shares of MaxLinear stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $20.35, for a total value of $651,200.00. Following the transaction, the insider now owns 365,868 shares in the company, valued at $7,445,413.80. This trade represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,900 shares of company stock valued at $927,278. Company insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. boosted its position in MaxLinear by 29.0% during the 4th quarter. Pacer Advisors Inc. now owns 1,968 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 443 shares during the last quarter. Truvestments Capital LLC acquired a new position in MaxLinear during the third quarter worth $42,000. R Squared Ltd acquired a new stake in MaxLinear in the 4th quarter valued at $45,000. GAMMA Investing LLC lifted its position in MaxLinear by 151.8% during the 3rd quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock worth $50,000 after buying an additional 2,093 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of MaxLinear by 321.3% during the 3rd quarter. CWM LLC now owns 5,793 shares of the semiconductor company’s stock worth $84,000 after buying an additional 4,418 shares during the last quarter. Institutional investors and hedge funds own 90.79% of the company’s stock.

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.