Wells Fargo & Company Initiates Coverage on MaxLinear (NASDAQ:MXL)

Wells Fargo & Company assumed coverage on shares of MaxLinear (NASDAQ:MXL) in a research note released on Friday morning, MarketBeat Ratings reports. The firm issued an equal weight rating and a $14.00 price objective on the semiconductor company’s stock.

Other equities research analysts have also recently issued reports about the company. Northland Securities dropped their price objective on MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Benchmark reaffirmed a “buy” rating and issued a $22.00 target price on shares of MaxLinear in a research report on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a research report on Thursday, October 24th. Susquehanna cut shares of MaxLinear from a “positive” rating to a “neutral” rating and dropped their price objective for the company from $26.00 to $15.00 in a report on Tuesday, October 1st. Finally, Craig Hallum cut their target price on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, MaxLinear has an average rating of “Hold” and an average price target of $22.29.

MaxLinear Stock Down 1.3 %

Shares of MXL opened at $15.54 on Friday. The company’s 50-day moving average price is $14.37 and its 200 day moving average price is $16.29. MaxLinear has a 12-month low of $11.08 and a 12-month high of $26.59. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.95.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.04). MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%. The company had revenue of $81.10 million during the quarter, compared to analyst estimates of $80.40 million. During the same quarter in the prior year, the company posted ($0.02) earnings per share. The business’s revenue was down 40.2% compared to the same quarter last year. Equities research analysts expect that MaxLinear will post -1.66 EPS for the current fiscal year.

Insider Buying and Selling

In other news, VP William Torgerson sold 6,100 shares of MaxLinear stock in a transaction on Friday, November 8th. The shares were sold at an average price of $15.40, for a total transaction of $93,940.00. Following the completion of the sale, the vice president now directly owns 179,262 shares of the company’s stock, valued at approximately $2,760,634.80. The trade was a 3.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On MaxLinear

Several large investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its position in shares of MaxLinear by 0.4% during the 3rd 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. Barclays PLC lifted its stake in MaxLinear by 47.6% during the third quarter. Barclays PLC now owns 335,804 shares of the semiconductor company’s stock worth $4,860,000 after purchasing an additional 108,346 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in MaxLinear by 4,298.1% in the third quarter. Public Employees Retirement System of Ohio now owns 20,979 shares of the semiconductor company’s stock valued at $304,000 after purchasing an additional 20,502 shares in the last quarter. Orion Portfolio Solutions LLC increased its stake in MaxLinear by 35.7% in the third quarter. Orion Portfolio Solutions LLC now owns 32,259 shares of the semiconductor company’s stock valued at $467,000 after purchasing an additional 8,495 shares during the last quarter. Finally, Two Sigma Advisers LP raised its holdings in MaxLinear by 21.8% during the third quarter. Two Sigma Advisers LP now owns 694,149 shares of the semiconductor company’s stock worth $10,051,000 after purchasing an additional 124,300 shares in the last quarter. Hedge funds and other institutional investors own 90.79% of the company’s stock.

MaxLinear Company Profile

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.