MaxLinear (NASDAQ:MXL) Price Target Raised to $25.00

MaxLinear (NASDAQ:MXL) had its price target raised by Susquehanna from $20.00 to $25.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. Susquehanna’s price objective suggests a potential upside of 4.17% from the company’s current price.

MXL has been the topic of a number of other research reports. Northland Securities upped their target price on MaxLinear from $25.00 to $27.50 and gave the company an “outperform” rating in a research note on Monday, January 6th. Craig Hallum reduced their target price on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Benchmark raised their target price 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. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. Finally, Wells Fargo & Company upped their target price on MaxLinear from $14.00 to $19.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $25.64.

MaxLinear Trading Down 0.9 %

Shares of MXL stock opened at $24.00 on Wednesday. MaxLinear has a fifty-two week low of $11.08 and a fifty-two week high of $26.59. The company has a quick ratio of 1.38, a current ratio of 1.95 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $19.05 and a 200-day simple moving average of $16.46. The stock has a market cap of $2.02 billion, a P/E ratio of -8.82 and a beta of 1.79.

MaxLinear (NASDAQ:MXL) last announced its earnings results 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 business had revenue of $81.10 million for the quarter, compared to analyst estimates of $80.40 million. During the same quarter in the previous year, the firm posted ($0.02) EPS. The business’s revenue was down 40.2% on a year-over-year basis. On average, analysts forecast that MaxLinear will post -1.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In other MaxLinear 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 transaction, the insider now owns 49,147 shares in the company, valued at $914,625.67. The trade was a 9.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Steven G. Litchfield sold 32,000 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $20.35, for a total value of $651,200.00. Following the completion of the sale, the insider now 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,900 shares of company stock valued at $927,278. 8.60% of the stock is currently owned by corporate insiders.

Institutional Trading of MaxLinear

Several large investors have recently bought and sold shares of the company. Vaughan Nelson Investment Management L.P. purchased a new position in shares of MaxLinear in the third quarter valued at $16,696,000. Assenagon Asset Management S.A. boosted its position in MaxLinear by 339.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,250,769 shares of the semiconductor company’s stock valued at $24,740,000 after buying an additional 966,468 shares during the last quarter. Millennium Management LLC grew its stake 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 acquiring an additional 788,558 shares in the last quarter. FMR LLC grew its stake in shares of MaxLinear by 184.5% during the third quarter. FMR LLC now owns 456,929 shares of the semiconductor company’s stock valued at $6,616,000 after acquiring an additional 296,339 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of MaxLinear by 36.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,089,065 shares of the semiconductor company’s stock worth $15,770,000 after acquiring an additional 291,874 shares during the last quarter. Institutional investors and hedge funds own 90.79% of the company’s stock.

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.