MaxLinear, Inc (NASDAQ:MXL) Receives $85.00 Average Price Target from Brokerages

Shares of MaxLinear, Inc (NASDAQ:MXL) have been assigned a consensus recommendation of “Hold” from the ten ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $85.00.

Several equities analysts have recently weighed in on the company. Needham & Company LLC increased their price target on MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a report on Friday, July 24th. Susquehanna upped their price objective on MaxLinear from $45.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Stifel Nicolaus increased their target price on MaxLinear from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, July 24th. Wall Street Zen raised MaxLinear from a “hold” rating to a “buy” rating in a research report on Sunday, July 26th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a research note on Friday, July 17th.

MaxLinear Trading Down 3.9%

NASDAQ:MXL opened at $57.59 on Wednesday. The company’s 50 day moving average price is $78.48 and its 200-day moving average price is $59.46. The company has a quick ratio of 1.15, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. MaxLinear has a 52 week low of $12.77 and a 52 week high of $128.30. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of -48.39 and a beta of 3.93.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The firm had revenue of $168.85 million during the quarter, compared to analyst estimates of $164.64 million. MaxLinear had a negative net margin of 18.24% and a positive return on equity of 2.24%. The business’s revenue for the quarter was up 55.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.02 earnings per share. On average, equities research analysts forecast that MaxLinear will post 0.78 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Kishore Seendripu sold 351,454 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $85.95, for a total value of $30,207,471.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 7.70% of the company’s stock.

Institutional Trading of MaxLinear

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Corient Private Wealth LP purchased a new position in shares of MaxLinear during the 2nd quarter worth $589,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of MaxLinear during the 2nd quarter valued at $1,050,000. California State Teachers Retirement System increased its stake in shares of MaxLinear by 12,029.5% in the 2nd quarter. California State Teachers Retirement System now owns 12,619,533 shares of the semiconductor company’s stock worth $1,615,679,000 after purchasing an additional 12,515,493 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of MaxLinear in the 2nd quarter worth $32,000. Finally, Wedmont Private Capital bought a new position in MaxLinear in the 2nd quarter worth $458,000. 90.79% of the stock is owned by hedge funds and other institutional investors.

About MaxLinear

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.