MaxLinear, Inc (NASDAQ:MXL) Stock Has Consensus Target Price of $88.64 According to Analysts

Shares of MaxLinear, Inc (NASDAQ:MXL) have earned an average rating of “Hold” from the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $88.64.

Several analysts recently weighed in on MXL shares. Stifel Nicolaus increased their price target on MaxLinear from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, July 24th. Wells Fargo & Company lifted their price objective on shares of MaxLinear from $42.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, July 20th. Morgan Stanley set a $125.00 price objective on shares of MaxLinear in a research note on Monday, September 14th. Roth Capital boosted their price objective on shares of MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a research note on Thursday.

Insider Activity

In related news, CEO Kishore Seendripu sold 351,454 shares of MaxLinear stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $85.95, for a total transaction of $30,207,471.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On MaxLinear

Several hedge funds have recently added to or reduced their stakes in MXL. IFP Advisors Inc lifted its stake in MaxLinear by 75.0% in the third quarter. IFP Advisors Inc now owns 3,310 shares of the semiconductor company’s stock worth $299,000 after purchasing an additional 1,419 shares during the last quarter. Elevated Financial Group LLC bought a new position in shares of MaxLinear during the third quarter valued at approximately $841,000. NFSG Corp grew its stake in shares of MaxLinear by 284.0% during the third quarter. NFSG Corp now owns 960 shares of the semiconductor company’s stock valued at $87,000 after buying an additional 710 shares during the last quarter. Triumph Capital Management raised its holdings in shares of MaxLinear by 54.2% in the third quarter. Triumph Capital Management now owns 24,041 shares of the semiconductor company’s stock worth $2,171,000 after buying an additional 8,449 shares during the period. Finally, GK Wealth Management LLC raised its holdings in shares of MaxLinear by 12.7% in the third quarter. GK Wealth Management LLC now owns 5,707 shares of the semiconductor company’s stock worth $515,000 after buying an additional 644 shares during the period. 90.79% of the stock is currently owned by institutional investors.

MaxLinear Trading Down 8.8%

Shares of MXL stock opened at $71.32 on Thursday. MaxLinear has a 1 year low of $12.77 and a 1 year high of $128.30. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.15. The stock’s 50 day simple moving average is $77.48 and its two-hundred day simple moving average is $74.07. The company has a market cap of $6.47 billion, a PE ratio of -59.93 and a beta of 3.93.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings data on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. The business had revenue of $168.85 million during the quarter, compared to analyst estimates of $164.64 million. MaxLinear had a positive return on equity of 2.24% and a negative net margin of 18.24%. The company’s revenue for the quarter was up 55.2% on a year-over-year basis. During the same period last year, the company earned $0.02 EPS. Research analysts predict that MaxLinear will post 0.78 earnings per share for the current year.

About MaxLinear

MaxLinear, Inc is a fabless semiconductor company that develops high-performance analog and mixed-signal integrated circuits for communications and connectivity applications. Its products are designed to help equipment manufacturers process, transmit and manage data across broadband, wired and wireless infrastructure, data center, and industrial systems.

The company’s product portfolio includes broadband access and connectivity solutions, RF and microwave components, Ethernet and high-speed interconnect products, optical networking technologies, and power-management devices.