Brokerages Set MaxLinear, Inc (NASDAQ:MXL) PT at $65.00

MaxLinear, Inc (NASDAQ:MXL) has received a consensus rating of “Hold” from the ten brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $65.00.

A number of brokerages recently issued reports on MXL. Stifel Nicolaus reiterated a “buy” rating and issued a $105.00 target price (up from $49.00) on shares of MaxLinear in a report on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $40.00 target price on shares of MaxLinear in a report on Friday, April 24th. Benchmark began coverage on MaxLinear in a report on Wednesday, May 27th. They issued a “buy” rating and a $125.00 target price on the stock. Susquehanna restated a “neutral” rating and set a $30.00 price objective on shares of MaxLinear in a research note on Monday, April 20th. Finally, Northland Securities set a $110.00 price objective on MaxLinear in a research note on Wednesday, June 3rd.

MaxLinear Price Performance

Shares of MXL opened at $84.39 on Friday. MaxLinear has a 12-month low of $11.86 and a 12-month high of $106.28. The business’s fifty day moving average is $68.48 and its 200 day moving average is $35.71. The company has a quick ratio of 1.12, a current ratio of 1.70 and a debt-to-equity ratio of 0.27. The stock has a market cap of $7.56 billion, a P/E ratio of -55.52 and a beta of 3.98.

MaxLinear (NASDAQ:MXL) last issued its earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. MaxLinear had a negative return on equity of 2.33% and a negative net margin of 25.96%.The company had revenue of $137.19 million for the quarter, compared to analysts’ expectations of $137.15 million. During the same period last year, the business earned ($0.05) EPS. MaxLinear’s quarterly revenue was up 43.0% compared to the same quarter last year. Sell-side analysts anticipate that MaxLinear will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling at MaxLinear

In other MaxLinear news, insider Connie H. Kwong sold 35,000 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $96.96, for a total transaction of $3,393,600.00. Following the transaction, the insider directly owned 13,947 shares in the company, valued at approximately $1,352,301.12. This trade represents a 71.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas E. Pardun sold 11,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $105.00, for a total value of $1,155,000.00. Following the transaction, the director owned 55,252 shares in the company, valued at approximately $5,801,460. This trade represents a 16.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 65,168 shares of company stock worth $5,559,359. Company insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On MaxLinear

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in MaxLinear by 4.8% during the 4th quarter. Vanguard Group Inc. now owns 13,326,387 shares of the semiconductor company’s stock valued at $232,279,000 after acquiring an additional 605,903 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in MaxLinear by 27.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,889,111 shares of the semiconductor company’s stock valued at $41,054,000 after acquiring an additional 628,719 shares in the last quarter. Invesco Ltd. lifted its stake in MaxLinear by 419.9% during the 4th quarter. Invesco Ltd. now owns 2,149,589 shares of the semiconductor company’s stock valued at $37,467,000 after acquiring an additional 1,736,141 shares in the last quarter. Geode Capital Management LLC lifted its stake in MaxLinear by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 2,038,144 shares of the semiconductor company’s stock valued at $35,531,000 after acquiring an additional 28,548 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in MaxLinear by 31.8% during the 3rd quarter. Marshall Wace LLP now owns 1,826,259 shares of the semiconductor company’s stock valued at $29,366,000 after acquiring an additional 441,088 shares in the last quarter. 90.79% of the stock is currently owned by institutional investors.

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.