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

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

Other analysts have also issued reports about the stock. Susquehanna lowered shares of MaxLinear from a “positive” rating to a “neutral” rating and reduced their price objective for the company from $26.00 to $15.00 in a report on Tuesday, October 1st. Wells Fargo & Company began coverage on shares of MaxLinear in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $14.00 price target on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a research report on Thursday, October 24th. Benchmark boosted their target price on MaxLinear from $22.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Craig Hallum lowered their price target on MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $23.50.

MaxLinear Trading Up 3.1 %

Shares of MXL stock opened at $20.54 on Monday. MaxLinear has a fifty-two week low of $11.08 and a fifty-two week high of $26.59. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.95. The stock’s fifty day moving average is $17.32 and its two-hundred day moving average is $16.31. The firm has a market capitalization of $1.73 billion, a P/E 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 for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%. The business had revenue of $81.10 million during the quarter, compared to analysts’ expectations of $80.40 million. During the same period last year, the business earned ($0.02) earnings per share. The company’s revenue for the quarter was down 40.2% compared to the same quarter last year. Research analysts expect that MaxLinear will post -1.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MaxLinear news, insider Steven G. Litchfield sold 32,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $20.35, for a total transaction of $651,200.00. Following the completion of the sale, the insider now directly owns 365,868 shares of the company’s stock, valued at $7,445,413.80. This represents a 8.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ted L. Tewksbury III sold 5,800 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $15.36, for a total value of $89,088.00. Following the completion of the transaction, the director now directly owns 69,717 shares in the company, valued at approximately $1,070,853.12. The trade was a 7.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,900 shares of company stock valued at $927,278 over the last quarter. Company insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On MaxLinear

A number of large investors have recently modified their holdings of the business. Truvestments Capital LLC acquired a new position in MaxLinear during the third quarter worth about $42,000. GAMMA Investing LLC increased its stake in MaxLinear by 151.8% in the 3rd quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 2,093 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in MaxLinear during the second quarter worth $56,000. CWM LLC boosted its position in MaxLinear by 321.3% during the third quarter. CWM LLC now owns 5,793 shares of the semiconductor company’s stock worth $84,000 after purchasing an additional 4,418 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in MaxLinear by 20.3% during the third 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 in the last quarter. 90.79% of the stock is owned by hedge funds and other institutional investors.

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.