MaxLinear, Inc. (NYSE:MXL) Receives $24.67 Average PT from Analysts

MaxLinear, Inc. (NYSE:MXL) has earned an average rating of “Hold” from the ten analysts that are currently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $24.67.

A number of research analysts have weighed in on the stock. Susquehanna decreased their price objective on shares of MaxLinear from $30.00 to $26.00 and set a “positive” rating for the company in a research note on Thursday, July 25th. Northland Securities reduced their price target on MaxLinear from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Craig Hallum decreased their price objective on shares of MaxLinear from $38.00 to $28.00 and set a “hold” rating for the company in a research report on Thursday, July 25th. Stifel Nicolaus increased their target price on MaxLinear from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, Needham & Company LLC downgraded MaxLinear from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th.

Insider Buying and Selling

In other MaxLinear news, CEO Kishore Seendripu bought 108,303 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were purchased at an average cost of $12.94 per share, for a total transaction of $1,401,440.82. Following the transaction, the chief executive officer now directly owns 531,937 shares in the company, valued at $6,883,264.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.60% of the company’s stock.

Institutional Trading of MaxLinear

A number of institutional investors have recently made changes to their positions in the stock. Headlands Technologies LLC acquired a new stake in MaxLinear during the first quarter valued at approximately $27,000. Innealta Capital LLC acquired a new position in MaxLinear during the second quarter worth $30,000. International Assets Investment Management LLC bought a new position in shares of MaxLinear in the 2nd quarter valued at approximately $31,000. Canada Pension Plan Investment Board bought a new position in shares of MaxLinear in the second quarter valued at approximately $56,000. Finally, EntryPoint Capital LLC bought a new position in MaxLinear in the 1st quarter worth $59,000. 90.79% of the stock is owned by institutional investors and hedge funds.

MaxLinear Trading Up 5.1 %

Shares of MXL opened at $14.39 on Friday. MaxLinear has a twelve month low of $11.08 and a twelve month high of $26.59. The firm has a market capitalization of $1.20 billion, a P/E ratio of -7.61 and a beta of 1.85. The company has a current ratio of 2.09, a quick ratio of 1.59 and a debt-to-equity ratio of 0.20. The stock’s fifty day simple moving average is $16.72 and its 200 day simple moving average is $18.47.

MaxLinear (NYSE:MXL) last released its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.06). MaxLinear had a negative return on equity of 12.39% and a negative net margin of 42.38%. The firm had revenue of $92.00 million during the quarter, compared to analysts’ expectations of $100.25 million. During the same quarter last year, the business earned $0.19 earnings per share. The business’s revenue for the quarter was down 50.0% compared to the same quarter last year. On average, equities research analysts forecast that MaxLinear will post -1.6 earnings per share 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.