MaxLinear, Inc. (NASDAQ:MXL) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of MaxLinear, Inc. (NASDAQ:MXL) have earned a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $23.50.

Several analysts have commented on MXL shares. Craig Hallum reduced their price objective on MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Susquehanna cut MaxLinear from a “positive” rating to a “neutral” rating and cut their price target for the stock from $26.00 to $15.00 in a research note on Tuesday, October 1st. Benchmark lifted their price objective on shares of MaxLinear from $22.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Northland Securities upped their price objective on shares of MaxLinear from $25.00 to $27.50 and gave the stock an “outperform” rating in a research report on Monday. Finally, Wells Fargo & Company started coverage on shares of MaxLinear in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $14.00 target price for the company.

Insider Transactions at MaxLinear

In related news, VP William Torgerson sold 6,100 shares of MaxLinear stock in a transaction on Friday, November 8th. The stock was sold at an average price of $15.40, for a total transaction of $93,940.00. Following the completion of the transaction, the vice president now directly owns 179,262 shares of the company’s stock, valued at approximately $2,760,634.80. The trade was a 3.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Steven G. Litchfield sold 32,000 shares of the company’s stock in a transaction on 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 directly owns 365,868 shares in the company, valued at $7,445,413.80. This trade represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,900 shares of company stock valued at $927,278 in the last ninety days. 8.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MaxLinear

Several institutional investors and hedge funds have recently made changes to their positions in MXL. State Street Corp raised its position in MaxLinear by 5.1% during the third quarter. State Street Corp now owns 4,123,419 shares of the semiconductor company’s stock worth $59,707,000 after acquiring an additional 198,791 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of MaxLinear by 10.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,071,183 shares of the semiconductor company’s stock worth $41,714,000 after purchasing an additional 192,021 shares during the last quarter. Geode Capital Management LLC lifted its stake in MaxLinear by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,805,722 shares of the semiconductor company’s stock valued at $26,152,000 after buying an additional 6,420 shares in the last quarter. Hood River Capital Management LLC acquired a new stake in MaxLinear during the 2nd quarter valued at $24,184,000. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in MaxLinear during the third quarter worth $16,696,000. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

MaxLinear Stock Performance

Shares of MXL opened at $19.93 on Friday. The company’s 50 day simple moving average is $17.32 and its 200-day simple moving average is $16.31. The firm has a market cap of $1.68 billion, a PE ratio of -7.33 and a beta of 1.79. MaxLinear has a 12-month low of $11.08 and a 12-month high of $26.59. The company has a current ratio of 1.95, a quick ratio of 1.38 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 the consensus estimate 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 analysts’ expectations of $80.40 million. During the same period in the previous year, the business posted ($0.02) earnings per share. The company’s revenue for the quarter was down 40.2% on a year-over-year basis. As a group, equities analysts predict that MaxLinear will post -1.66 EPS for the current 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.