MaxLinear, Inc (NASDAQ:MXL) Stock Has Average Target Price of $88.64

MaxLinear, Inc (NASDAQ:MXL) has received an average rating of “Hold” from the nine research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $88.64.

Several brokerages recently commented on MXL. Roth Capital increased their price objective on shares of MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Morgan Stanley set a $125.00 target price on MaxLinear in a research note on Monday, September 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxLinear in a report on Thursday. Susquehanna raised their price target on shares of MaxLinear from $45.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Finally, Needham & Company LLC boosted their price objective on MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, July 24th.

Insider Buying and Selling at MaxLinear

In other news, CEO Kishore Seendripu sold 351,454 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $85.95, for a total value of $30,207,471.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 7.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MXL. BlackRock Inc. acquired a new position in MaxLinear in the second quarter valued at approximately $1,754,062,000. Dimensional Fund Advisors LP increased its stake in shares of MaxLinear by 7.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,689,692 shares of the semiconductor company’s stock worth $29,376,000 after buying an additional 113,058 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in shares of MaxLinear in the 2nd quarter valued at approximately $165,221,000. AIGH Capital Management LLC acquired a new stake in MaxLinear in the second quarter valued at $104,729,000. Finally, Bank of America Corp DE raised its position in shares of MaxLinear by 6.9% during the 1st quarter. Bank of America Corp DE now owns 641,034 shares of the semiconductor company’s stock worth $11,148,000 after acquiring an additional 41,119 shares in the last quarter. 90.79% of the stock is owned by hedge funds and other institutional investors.

MaxLinear Stock Performance

MXL stock opened at $77.11 on Thursday. MaxLinear has a one year low of $12.77 and a one year high of $128.30. The firm has a 50-day simple moving average of $77.66 and a two-hundred day simple moving average of $74.90. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.15 and a current ratio of 1.78. The firm has a market cap of $6.99 billion, a price-to-earnings ratio of -64.80 and a beta of 3.93.

MaxLinear (NASDAQ:MXL) last announced its earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. The company had revenue of $168.85 million during the quarter, compared to the consensus estimate of $164.64 million. MaxLinear had a negative net margin of 18.24% and a positive return on equity of 2.24%. MaxLinear’s revenue was up 55.2% compared to the same quarter last year. During the same period last year, the firm earned $0.02 earnings per share. On average, equities analysts forecast that MaxLinear will post 0.78 EPS for the current fiscal year.

MaxLinear Company Profile

MaxLinear, Inc is a fabless semiconductor company that designs, develops and sells integrated circuits and related solutions for broadband communications, wired and wireless infrastructure, data centers, industrial applications and consumer electronics. Its products are used by equipment manufacturers and service providers to support the transmission, processing and management of voice, video and data.

The company’s portfolio includes broadband access system-on-chip products, Ethernet transceivers and controllers, high-speed interconnect and communications devices, radio-frequency and analog products, optical and copper connectivity solutions, and power-management components.