Brokerages Set MaxLinear, Inc. (NYSE:MXL) Target Price at $24.67

MaxLinear, Inc. (NYSE:MXL) has earned a consensus rating of “Hold” from the ten ratings firms that are covering the stock, MarketBeat Ratings reports. Six equities research 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 issued ratings on the stock in the last year is $24.67.

Several brokerages have commented on MXL. Stifel Nicolaus raised their price objective on MaxLinear from $26.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Northland Securities reduced 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. Susquehanna cut their price objective on MaxLinear from $30.00 to $26.00 and set a “positive” rating for the company in a research note on Thursday, July 25th. Needham & Company LLC downgraded MaxLinear from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Finally, StockNews.com cut MaxLinear from a “hold” rating to a “sell” rating in a research report on Thursday, April 25th.

MaxLinear Stock Up 1.7 %

Shares of MXL opened at $11.68 on Tuesday. MaxLinear has a 52 week low of $11.08 and a 52 week high of $26.59. The company has a market capitalization of $970.94 million, a price-to-earnings ratio of -6.18 and a beta of 1.85. The stock’s 50-day moving average price is $18.59 and its 200-day moving average price is $19.25. The company has a quick ratio of 1.59, a current ratio of 2.09 and a debt-to-equity ratio of 0.20.

MaxLinear (NYSE:MXL) last released its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.06). MaxLinear had a negative net margin of 42.38% and a negative return on equity of 12.39%. The firm had revenue of $92.00 million for the quarter, compared to analyst estimates of $100.25 million. During the same quarter in the prior year, the business posted $0.19 EPS. The firm’s quarterly revenue was down 50.0% compared to the same quarter last year. On average, sell-side analysts predict that MaxLinear will post -1.6 EPS for the current year.

Insiders Place Their Bets

In other MaxLinear news, CEO Kishore Seendripu purchased 108,303 shares of the stock in a transaction dated Tuesday, July 30th. The stock was acquired at an average cost of $12.94 per share, for a total transaction of $1,401,440.82. Following the acquisition, the chief executive officer now owns 531,937 shares in the company, valued at approximately $6,883,264.78. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 8.60% of the stock is owned by insiders.

Hedge Funds Weigh In On MaxLinear

A number of hedge funds have recently made changes to their positions in the stock. Headlands Technologies LLC acquired a new position in MaxLinear during the first quarter worth $27,000. Innealta Capital LLC purchased a new stake in shares of MaxLinear in the 2nd quarter valued at $30,000. International Assets Investment Management LLC acquired a new position in MaxLinear during the 2nd quarter worth about $31,000. Canada Pension Plan Investment Board purchased a new position in MaxLinear during the 2nd quarter valued at about $56,000. Finally, EntryPoint Capital LLC acquired a new position in MaxLinear in the 1st quarter valued at about $59,000. 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.