MaxLinear (NASDAQ:MXL) Given New $20.00 Price Target at Wells Fargo & Company

MaxLinear (NASDAQ:MXL) had its price target hoisted by Wells Fargo & Company from $19.00 to $20.00 in a research note released on Thursday,Benzinga reports. The firm currently has an equal weight rating on the semiconductor company’s stock.

A number of other brokerages have also commented on MXL. Craig Hallum dropped their target price on MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Susquehanna upped their price objective on shares of MaxLinear from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a research report on Thursday. Benchmark raised their price target on MaxLinear from $22.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Northland Securities upped their price target on MaxLinear from $25.00 to $27.50 and gave the stock an “outperform” rating in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $25.50.

MaxLinear Trading Down 19.8 %

MXL stock opened at $17.47 on Thursday. The company has a current ratio of 1.95, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22. The business’s fifty day simple moving average is $19.80 and its two-hundred day simple moving average is $16.44. MaxLinear has a twelve month low of $11.08 and a twelve month high of $26.59.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.14). MaxLinear had a negative net margin of 68.01% and a negative return on equity of 21.15%. As a group, analysts predict that MaxLinear will post -0.21 earnings per share for the current year.

Insider Activity at MaxLinear

In other MaxLinear news, VP William Torgerson sold 6,100 shares of the firm’s stock in a transaction 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 sale, the vice president now owns 179,262 shares of the company’s stock, valued at approximately $2,760,634.80. This trade represents a 3.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ted L. Tewksbury III sold 5,800 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $15.36, for a total value of $89,088.00. Following the completion of the sale, the director now owns 69,717 shares in the company, valued at approximately $1,070,853.12. This represents a 7.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,900 shares of company stock worth $927,278 in the last 90 days. 8.60% of the stock is owned by insiders.

Hedge Funds Weigh In On MaxLinear

A number of institutional investors have recently modified their holdings of MXL. State Street Corp increased its stake in MaxLinear by 5.1% in the third quarter. State Street Corp now owns 4,123,419 shares of the semiconductor company’s stock valued at $59,707,000 after purchasing an additional 198,791 shares during the last quarter. Geode Capital Management LLC increased its position in shares of MaxLinear by 0.4% in the third quarter. Geode Capital Management LLC now owns 1,805,722 shares of the semiconductor company’s stock worth $26,152,000 after acquiring an additional 6,420 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in shares of MaxLinear by 10.0% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,268,857 shares of the semiconductor company’s stock worth $25,098,000 after buying an additional 115,867 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of MaxLinear by 339.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,250,769 shares of the semiconductor company’s stock valued at $24,740,000 after purchasing an additional 966,468 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its position in MaxLinear by 36.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,089,065 shares of the semiconductor company’s stock valued at $15,770,000 after buying 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.