Brokerages Set MaxLinear, Inc (NASDAQ:MXL) Price Target at $23.29

Shares of MaxLinear, Inc (NASDAQ:MXL) have been assigned a consensus recommendation of “Hold” from the ten analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $44.20.

A number of research analysts recently commented on MXL shares. Benchmark increased their price target on shares of MaxLinear from $25.00 to $28.00 and gave the company a “buy” rating in a report on Friday, January 16th. Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a report on Tuesday, April 21st. Susquehanna reissued a “neutral” rating and set a $30.00 price target on shares of MaxLinear in a research report on Monday, April 20th. Stifel Nicolaus boosted their price objective on shares of MaxLinear from $34.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Finally, Wells Fargo & Company lifted their price target on shares of MaxLinear from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Friday, January 30th.

MaxLinear Trading Up 29.8%

Shares of MaxLinear stock opened at $67.52 on Thursday. The company has a market capitalization of $5.84 billion, a P/E ratio of -44.42 and a beta of 1.70. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.12 and a current ratio of 1.70. The company has a fifty day moving average of $22.57 and a 200 day moving average of $19.09. MaxLinear has a fifty-two week low of $9.52 and a fifty-two week high of $71.28.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings data on Thursday, April 23rd. The semiconductor company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.18 by $0.04. MaxLinear had a negative net margin of 25.96% and a negative return on equity of 2.33%. The business had revenue of $137.19 million during the quarter, compared to the consensus estimate of $137.15 million. During the same quarter in the prior year, the firm earned ($0.05) EPS. The business’s revenue was up 43.0% on a year-over-year basis. On average, sell-side analysts anticipate that MaxLinear will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at MaxLinear

In related news, insider Connie H. Kwong sold 15,050 shares of the business’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $51.29, for a total transaction of $771,914.50. Following the completion of the transaction, the insider directly owned 53,065 shares in the company, valued at $2,721,703.85. The trade was a 22.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Steven G. Litchfield sold 20,000 shares of MaxLinear stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $15.68, for a total value of $313,600.00. Following the transaction, the insider owned 343,435 shares of the company’s stock, valued at $5,385,060.80. The trade was a 5.50% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 59,979 shares of company stock valued at $1,518,371. 7.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MaxLinear

Hedge funds have recently modified their holdings of the business. Larson Financial Group LLC raised its position in shares of MaxLinear by 161.7% in the fourth quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 875 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in MaxLinear by 103.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 726 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in MaxLinear in the 4th quarter worth approximately $25,000. International Assets Investment Management LLC purchased a new position in MaxLinear in the 4th quarter worth approximately $27,000. Finally, EverSource Wealth Advisors LLC lifted its stake in MaxLinear by 97.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 1,039 shares in the last quarter. 90.79% of the stock is currently owned by institutional investors and hedge funds.

MaxLinear Company Profile

MaxLinear, Inc is a provider of radio-frequency (RF), analog, and mixed-signal integrated circuits for broadband communications, data center connectivity, and video infrastructure applications. The company’s product portfolio includes high-performance RF front-end modules, broadband power amplifiers, optical and Ethernet transceivers, and network processors designed to support demanding signal processing requirements.

MaxLinear’s semiconductor solutions are used by cable and satellite television operators, fiber-to-the-home service providers, network equipment manufacturers, and data center operators.