Brokerages Set MaxLinear, Inc (NASDAQ:MXL) Target Price at $18.86

Shares of MaxLinear, Inc (NASDAQ:MXL) have earned a consensus recommendation of “Hold” from the nine brokerages that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $19.2857.

Several equities research analysts recently commented on the stock. Williams Trading set a $25.00 price objective on shares of MaxLinear in a research report on Friday, October 24th. Zacks Research downgraded MaxLinear from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxLinear in a research report on Wednesday, October 8th. Stifel Nicolaus set a $23.00 price objective on MaxLinear in a report on Friday, October 24th. Finally, Benchmark lifted their target price on MaxLinear from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Friday.

MaxLinear Price Performance

Shares of MXL opened at $19.30 on Tuesday. The stock has a 50 day simple moving average of $17.06 and a 200 day simple moving average of $16.27. MaxLinear has a 52-week low of $8.35 and a 52-week high of $25.73. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.55. The firm has a market capitalization of $1.69 billion, a PE ratio of -9.23 and a beta of 1.77.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings results on Thursday, October 23rd. The semiconductor company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The firm had revenue of $126.46 million for the quarter, compared to analyst estimates of $124.66 million. MaxLinear had a negative net margin of 42.43% and a negative return on equity of 12.74%. The business’s revenue was up 56.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.36) earnings per share. Sell-side analysts predict that MaxLinear will post -0.37 EPS for the current fiscal year.

MaxLinear declared that its Board of Directors has approved a stock buyback program on Monday, November 24th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the semiconductor company to reacquire up to 5.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other MaxLinear news, Director Daniel A. Artusi sold 20,747 shares of the business’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $15.39, for a total transaction of $319,296.33. Following the sale, the director directly owned 12,141 shares of the company’s stock, valued at $186,849.99. The trade was a 63.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 7.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MXL. EverSource Wealth Advisors LLC grew its stake in MaxLinear by 97.0% in the third quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 1,039 shares in the last quarter. Quarry LP boosted its holdings in shares of MaxLinear by 1,293.0% in the 3rd quarter. Quarry LP now owns 2,187 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 2,030 shares during the last quarter. Farther Finance Advisors LLC bought a new position in shares of MaxLinear in the second quarter valued at $44,000. PNC Financial Services Group Inc. grew its stake in shares of MaxLinear by 104.4% in the second quarter. PNC Financial Services Group Inc. now owns 3,579 shares of the semiconductor company’s stock valued at $51,000 after buying an additional 1,828 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in MaxLinear by 917.6% during the third quarter. Bessemer Group Inc. now owns 3,175 shares of the semiconductor company’s stock worth $51,000 after buying an additional 2,863 shares during the last quarter. 90.79% of the stock is owned by institutional investors and hedge funds.

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.