MaxLinear (NASDAQ:MXL) Price Target Raised to $20.00

MaxLinear (NASDAQ:MXL) had its price objective increased by research analysts at Wells Fargo & Company from $19.00 to $20.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 2.76% from the stock’s previous close.

Several other brokerages have also commented on MXL. Needham & Company LLC restated a “hold” rating on shares of MaxLinear in a research note on Thursday. Susquehanna boosted their price target on MaxLinear from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Northland Securities upped their price objective on shares of MaxLinear from $25.00 to $27.50 and gave the stock an “outperform” rating in a report on Monday, January 6th. Benchmark boosted their price target on shares of MaxLinear from $22.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Craig Hallum lowered their price objective 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 given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.79.

MaxLinear Stock Down 4.9 %

Shares of NASDAQ:MXL opened at $19.46 on Thursday. The firm has a market capitalization of $1.64 billion, a PE ratio of -7.16 and a beta of 1.79. MaxLinear has a 1 year low of $11.08 and a 1 year high of $26.59. The firm’s 50-day moving average is $19.77 and its two-hundred day moving average is $16.43. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.95 and a quick ratio of 1.38.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings data 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 19.22% and a negative net margin of 57.37%. Analysts predict that MaxLinear will post -1.66 EPS for the current year.

Insider Buying and Selling

In related news, insider Connie H. Kwong sold 5,000 shares of the business’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 completion of the transaction, the insider now owns 49,147 shares of the company’s stock, valued at approximately $914,625.67. The trade was a 9.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven G. Litchfield sold 32,000 shares of the stock in a transaction on Friday, December 13th. The shares were 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 approximately $7,445,413.80. This trade represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,900 shares of company stock worth $927,278. Corporate insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On MaxLinear

Several large investors have recently modified their holdings of MXL. Pacer Advisors Inc. increased its position in shares of 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 purchasing an additional 443 shares in the last quarter. Truvestments Capital LLC acquired a new stake in shares of MaxLinear during the third quarter worth approximately $42,000. R Squared Ltd acquired a new stake in shares of MaxLinear during the fourth quarter worth approximately $45,000. GAMMA Investing LLC raised its stake in shares of MaxLinear by 151.8% in the third quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 2,093 shares during the last quarter. Finally, CWM LLC boosted its holdings in shares of MaxLinear by 321.3% in the 3rd quarter. CWM LLC now owns 5,793 shares of the semiconductor company’s stock worth $84,000 after acquiring an additional 4,418 shares in the last quarter. 90.79% of the stock is currently owned by institutional investors.

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.