MaxLinear, Inc. (NASDAQ:MXL) Receives $23.50 Average Price Target from Analysts

MaxLinear, Inc. (NASDAQ:MXL) has been assigned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $23.86.

A number of research analysts recently commented on MXL shares. Craig Hallum reduced their price target on MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday. Northland Securities decreased their price target on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Benchmark reaffirmed a “buy” rating and issued a $22.00 price target on shares of MaxLinear in a report on Thursday. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a report on Thursday. Finally, Susquehanna lowered shares of MaxLinear from a “positive” rating to a “neutral” rating and cut their target price for the company from $26.00 to $15.00 in a research note on Tuesday, October 1st.

Insider Buying and Selling at MaxLinear

In related news, CEO Kishore Seendripu bought 108,303 shares of the stock in a transaction on Tuesday, July 30th. The shares were purchased at an average price of $12.94 per share, with a total value of $1,401,440.82. Following the purchase, the chief executive officer now owns 531,937 shares in the company, valued at approximately $6,883,264.78. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MaxLinear

Large investors have recently made changes to their positions in the company. Simplicity Wealth LLC boosted its holdings in MaxLinear by 3.1% in the second quarter. Simplicity Wealth LLC now owns 19,283 shares of the semiconductor company’s stock worth $388,000 after purchasing an additional 579 shares in the last quarter. ProShare Advisors LLC raised its holdings in MaxLinear by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 15,304 shares of the semiconductor company’s stock valued at $286,000 after acquiring an additional 1,061 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of MaxLinear by 3.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 38,000 shares of the semiconductor company’s stock worth $765,000 after acquiring an additional 1,100 shares during the period. Swiss National Bank boosted its holdings in MaxLinear by 0.9% during the first quarter. Swiss National Bank now owns 152,973 shares of the semiconductor company’s stock valued at $2,856,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in MaxLinear by 20.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 7,761 shares of the semiconductor company’s stock valued at $112,000 after buying an additional 1,308 shares in the last quarter. Institutional investors and hedge funds own 90.79% of the company’s stock.

MaxLinear Trading Down 1.6 %

MXL opened at $14.85 on Friday. The firm’s 50 day moving average is $13.87 and its 200-day moving average is $17.07. MaxLinear has a 52-week low of $11.08 and a 52-week high of $26.59. The company has a quick ratio of 1.59, a current ratio of 2.09 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $1.25 billion, a P/E ratio of -6.43 and a beta of 1.83.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.04). The firm had revenue of $81.10 million for the quarter, compared to analysts’ expectations of $80.40 million. MaxLinear had a negative return on equity of 12.39% and a negative net margin of 42.38%. The business’s quarterly revenue was down 40.2% on a year-over-year basis. During the same period last year, the firm earned ($0.02) EPS. Analysts expect that MaxLinear will post -1.74 EPS for the current fiscal year.

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.