MaxLinear, Inc (NASDAQ:MXL) Receives $19.57 Average Target Price from Analysts

Shares of MaxLinear, Inc (NASDAQ:MXL) have been assigned a consensus recommendation of “Hold” from the eight analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $19.5714.

MXL has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a research report on Thursday, January 22nd. Wells Fargo & Company boosted their price objective on shares of MaxLinear from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Friday, January 30th. Finally, Benchmark increased their price objective on shares of MaxLinear from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, January 16th.

Insider Activity at MaxLinear

In other news, insider Steven G. Litchfield sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $17.50, for a total transaction of $350,000.00. Following the completion of the transaction, the insider directly owned 368,364 shares of the company’s stock, valued at approximately $6,446,370. This represents a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 44,929 shares of company stock worth $746,456 over the last three months. 7.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pure Financial Advisors LLC bought a new position in shares of MaxLinear during the fourth quarter worth about $1,424,000. Invesco Ltd. increased its holdings in shares of MaxLinear by 419.9% in the 4th quarter. Invesco Ltd. now owns 2,149,589 shares of the semiconductor company’s stock worth $37,467,000 after acquiring an additional 1,736,141 shares during the period. Summit Global Investments lifted its position in MaxLinear by 68.2% in the 4th quarter. Summit Global Investments now owns 58,007 shares of the semiconductor company’s stock valued at $1,011,000 after purchasing an additional 23,510 shares during the last quarter. XTX Topco Ltd lifted its position in MaxLinear by 75.0% in the 4th quarter. XTX Topco Ltd now owns 54,622 shares of the semiconductor company’s stock valued at $952,000 after purchasing an additional 23,417 shares during the last quarter. Finally, nVerses Capital LLC acquired a new position in MaxLinear during the 4th quarter valued at about $204,000. Institutional investors and hedge funds own 90.79% of the company’s stock.

MaxLinear Price Performance

Shares of NASDAQ MXL opened at $17.39 on Friday. The company has a current ratio of 1.34, a quick ratio of 0.92 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of -11.01 and a beta of 1.70. MaxLinear has a twelve month low of $8.35 and a twelve month high of $20.82. The business has a 50 day simple moving average of $17.81 and a 200-day simple moving average of $17.06.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings data on Thursday, January 29th. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. The firm had revenue of $136.44 million for the quarter, compared to analysts’ expectations of $134.82 million. MaxLinear had a negative return on equity of 6.95% and a negative net margin of 29.23%.During the same period last year, the business posted ($0.09) earnings per share. The firm’s revenue for the quarter was up 48.0% on a year-over-year basis. As a group, equities research analysts expect that MaxLinear will post -0.37 earnings per share for the current year.

About MaxLinear

MaxLinear, Inc is a provider of radio-frequency (RF), analog, and mixed-signal integrated circuits for broadband communications, data center connectivity, and video infrastructure applications. The company’s product portfolio includes high-performance RF front-end modules, broadband power amplifiers, optical and Ethernet transceivers, and network processors designed to support demanding signal processing requirements.

MaxLinear’s semiconductor solutions are used by cable and satellite television operators, fiber-to-the-home service providers, network equipment manufacturers, and data center operators.