MaxLinear, Inc. (NASDAQ:MXL) Given Consensus Recommendation of “Moderate Buy” by Brokerages

MaxLinear, Inc. (NASDAQ:MXL) has earned an average rating of “Moderate Buy” from the seven analysts that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $23.50.

MXL has been the topic of a number of research analyst reports. Craig Hallum lowered their target price on MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Needham & Company LLC restated a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. Wells Fargo & Company started coverage on shares of MaxLinear in a research report on Friday, November 22nd. They set an “equal weight” rating and a $14.00 target price on the stock. Benchmark raised their price target 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. Finally, Northland Securities upped their price objective on shares of MaxLinear from $25.00 to $27.50 and gave the company an “outperform” rating in a research report on Monday.

Insider Transactions at MaxLinear

In other MaxLinear 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. This trade represents a 3.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven G. Litchfield sold 32,000 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $20.35, for a total transaction of $651,200.00. Following the sale, the insider now owns 365,868 shares of the company’s stock, 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. In the last three months, insiders sold 48,900 shares of company stock valued at $927,278. Company insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC acquired a new position in MaxLinear in the second quarter worth $31,000. Canada Pension Plan Investment Board acquired a new position in MaxLinear during the 2nd quarter worth about $56,000. Truvestments Capital LLC bought a new stake in MaxLinear during the 3rd quarter worth about $42,000. GAMMA Investing LLC increased its position in MaxLinear by 151.8% in the 3rd quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 2,093 shares in the last quarter. Finally, CWM LLC raised its stake in shares of MaxLinear by 321.3% in the third quarter. CWM LLC now owns 5,793 shares of the semiconductor company’s stock worth $84,000 after acquiring an additional 4,418 shares during the last quarter. 90.79% of the stock is owned by institutional investors and hedge funds.

MaxLinear Trading Up 3.1 %

NASDAQ:MXL opened at $20.54 on Friday. 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 company’s 50 day moving average is $17.44 and its 200-day moving average is $16.34. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of -7.55 and a beta of 1.79. MaxLinear has a 12 month low of $11.08 and a 12 month high of $26.59.

MaxLinear (NASDAQ:MXL) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). The firm had revenue of $81.10 million for the quarter, compared to analyst estimates of $80.40 million. MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%. The firm’s revenue was down 40.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.02) EPS. Equities analysts anticipate 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.