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

MaxLinear (NASDAQ:MXL) had its target price upped by Northland Securities from $25.00 to $27.50 in a research note released on Monday morning,Benzinga reports. Northland Securities currently has an outperform rating on the semiconductor company’s stock.

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

MaxLinear Stock Down 0.7 %

Shares of NASDAQ:MXL opened at $20.47 on Monday. The firm has a market cap of $1.73 billion, a P/E ratio of -7.53 and a beta of 1.79. MaxLinear has a 12-month low of $11.08 and a 12-month high of $26.59. The business has a fifty day simple moving average of $17.22 and a 200 day simple moving average of $16.31. The company has a quick ratio of 1.38, a current ratio of 1.95 and a debt-to-equity ratio of 0.22.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share (EPS) 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 company had revenue of $81.10 million for the quarter, compared to the consensus estimate of $80.40 million. During the same quarter last year, the business earned ($0.02) earnings per share. MaxLinear’s revenue was down 40.2% compared to the same quarter last year. Analysts predict that MaxLinear will post -1.66 earnings per share for the current year.

Insiders Place Their Bets

In other MaxLinear news, Director Ted L. Tewksbury III sold 5,800 shares of MaxLinear stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $15.36, for a total transaction of $89,088.00. Following the completion of the transaction, the director now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP William Torgerson sold 6,100 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $15.40, for a total value of $93,940.00. Following the sale, the vice president now directly owns 179,262 shares of the company’s stock, valued at $2,760,634.80. This represents a 3.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,900 shares of company stock worth $927,278. Corporate insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Hood River Capital Management LLC bought a new position in MaxLinear during the 2nd quarter valued at $24,184,000. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of MaxLinear in the third quarter valued at about $16,696,000. Millennium Management LLC lifted its position in shares of MaxLinear by 307.9% during the second quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company’s stock valued at $21,039,000 after purchasing an additional 788,558 shares in the last quarter. FMR LLC boosted its holdings in MaxLinear by 184.5% during the third quarter. FMR LLC now owns 456,929 shares of the semiconductor company’s stock worth $6,616,000 after purchasing an additional 296,339 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in MaxLinear by 36.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,089,065 shares of the semiconductor company’s stock worth $15,770,000 after purchasing an additional 291,874 shares in the last quarter. Hedge funds and other institutional investors 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.