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

MaxLinear (NASDAQ:MXL) had its target price increased by stock analysts at Northland Securities from $25.00 to $27.50 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the semiconductor company’s stock. Northland Securities’ price objective suggests a potential upside of 37.98% from the company’s previous close.

A number of other equities analysts have also commented on the stock. Craig Hallum cut their price objective 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. Susquehanna downgraded shares of MaxLinear from a “positive” rating to a “neutral” rating and decreased their price objective for the stock from $26.00 to $15.00 in a report on Tuesday, October 1st. Benchmark boosted their price objective on MaxLinear from $22.00 to $28.00 and gave the company 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 initiated coverage on MaxLinear in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $14.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, MaxLinear presently has a consensus rating of “Hold” and an average target price of $23.50.

MaxLinear Stock Performance

NASDAQ MXL opened at $19.93 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.95 and a quick ratio of 1.38. MaxLinear has a 1-year low of $11.08 and a 1-year high of $26.59. The business’s 50-day simple moving average is $17.32 and its 200-day simple moving average is $16.31. The firm has a market capitalization of $1.68 billion, a P/E ratio of -7.33 and a beta of 1.79.

MaxLinear (NASDAQ:MXL) last announced 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 company had revenue of $81.10 million during the quarter, compared to analyst estimates of $80.40 million. MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. The firm’s revenue for the quarter was down 40.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.02) earnings per share. Equities analysts predict that MaxLinear will post -1.66 EPS for the current year.

Insider Activity

In related news, Director Ted L. Tewksbury III sold 5,800 shares of MaxLinear stock in a transaction on 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 sale, the director now owns 69,717 shares of the company’s stock, valued at approximately $1,070,853.12. This trade represents a 7.68 % decrease in their ownership of the stock. 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 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 completion of the transaction, the vice president now owns 179,262 shares in the company, valued at $2,760,634.80. This represents a 3.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,900 shares of company stock valued at $927,278 over the last three months. Insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Truvestments Capital LLC bought a new stake in MaxLinear in the third quarter worth $42,000. GAMMA Investing LLC boosted its stake in shares of MaxLinear by 151.8% during the 3rd quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 2,093 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of MaxLinear during the 2nd quarter valued at about $56,000. CWM LLC raised its stake in shares of MaxLinear by 321.3% in the 3rd quarter. CWM LLC now owns 5,793 shares of the semiconductor company’s stock valued at $84,000 after acquiring an additional 4,418 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in MaxLinear by 20.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 7,761 shares of the semiconductor company’s stock worth $112,000 after purchasing an additional 1,308 shares during the last quarter. 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.