MaxLinear, Inc (NASDAQ:MXL) Stock Has Consensus Target Price of $94.30 According to Analysts

MaxLinear, Inc (NASDAQ:MXL) has received a consensus recommendation of “Moderate Buy” from the ten research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $94.30.

Several research analysts recently weighed in on the company. Morgan Stanley set a $125.00 price target on MaxLinear in a research report on Monday, September 14th. Wells Fargo & Company decreased their price objective on MaxLinear from $95.00 to $78.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 20th. Wall Street Zen upgraded MaxLinear from a “hold” rating to a “buy” rating in a research report on Sunday, July 26th. Needham & Company LLC lifted their target price on MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Finally, Zacks Research upgraded MaxLinear from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 28th.

MaxLinear Trading Up 11.4%

NASDAQ MXL opened at $59.95 on Monday. MaxLinear has a twelve month low of $12.77 and a twelve month high of $128.30. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.22. The stock has a market cap of $5.46 billion, a price-to-earnings ratio of 85.44 and a beta of 3.97. The firm’s 50 day moving average price is $76.07 and its two-hundred day moving average price is $60.83.

MaxLinear (NASDAQ:MXL) last announced its earnings results on Thursday, October 22nd. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.06. The company had revenue of $218.06 million for the quarter, compared to the consensus estimate of $214.95 million. MaxLinear had a negative net margin of 4.45% and a positive return on equity of 12.89%. The company’s revenue was up 72.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.14 EPS. Equities analysts anticipate that MaxLinear will post 1.10 EPS for the current year.

Insider Activity at MaxLinear

In related news, CEO Kishore Seendripu sold 351,454 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $85.95, for a total transaction of $30,207,471.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On MaxLinear

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of MaxLinear during the 2nd quarter valued at $1,754,062,000. Dimensional Fund Advisors LP raised its holdings in shares of MaxLinear by 7.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,689,692 shares of the semiconductor company’s stock worth $29,376,000 after acquiring an additional 113,058 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of MaxLinear during the second quarter worth $165,221,000. AIGH Capital Management LLC purchased a new stake in shares of MaxLinear during the second quarter worth $104,729,000. Finally, Bank of America Corp DE boosted its position in MaxLinear by 6.9% during the first quarter. Bank of America Corp DE now owns 641,034 shares of the semiconductor company’s stock valued at $11,148,000 after purchasing an additional 41,119 shares during the last quarter. Hedge funds and other institutional investors own 90.79% of the company’s stock.

MaxLinear Company Profile

MaxLinear, Inc. is a fabless semiconductor company that designs radio-frequency, analog and mixed-signal components, as well as system-on-chip products. Its technologies are used to move and process data in broadband, wireless, wired-networking and infrastructure applications. The company’s products support equipment such as broadband access devices, Wi-Fi systems, Ethernet and optical networking equipment, and wireless infrastructure. MaxLinear sells to customers around the world, including communications equipment manufacturers and other technology companies.