Brokerages Set MaxLinear, Inc. (NYSE:MXL) Price Target at $24.67

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

Several brokerages have weighed in on MXL. Benchmark dropped their price target on shares of MaxLinear from $28.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. StockNews.com cut MaxLinear from a “hold” rating to a “sell” rating in a research note on Thursday, April 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 report on Thursday, July 25th. Susquehanna dropped their price objective on MaxLinear from $30.00 to $26.00 and set a “positive” rating for the company in a report on Thursday, July 25th. Finally, Stifel Nicolaus boosted 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.

MaxLinear Stock Up 1.7 %

MXL opened at $11.68 on Tuesday. MaxLinear has a 12 month low of $11.08 and a 12 month high of $26.59. 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 business’s 50-day moving average price is $18.59 and its 200-day moving average price is $19.25. The company has a market cap of $970.94 million, a P/E ratio of -6.18 and a beta of 1.85.

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

Insider Activity

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

Institutional Trading of MaxLinear

Institutional investors have recently bought and sold shares of the company. Headlands Technologies LLC purchased a new stake in shares of MaxLinear during the first quarter valued at approximately $27,000. Innealta Capital LLC bought a new position in MaxLinear in the 2nd quarter valued at approximately $30,000. International Assets Investment Management LLC purchased a new stake in MaxLinear during the 2nd quarter valued at $31,000. Canada Pension Plan Investment Board bought a new stake in shares of MaxLinear in the 2nd quarter worth $56,000. Finally, EntryPoint Capital LLC purchased a new position in shares of MaxLinear in the first quarter worth $59,000. 90.79% of the stock is owned by hedge funds and other institutional investors.

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.