MaxLinear (NASDAQ:MXL) Now Covered by Analysts at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of MaxLinear (NASDAQ:MXL) in a research report sent to investors on Friday morning, MarketBeat Ratings reports. The brokerage issued an equal weight rating and a $14.00 price objective on the semiconductor company’s stock.

Several other analysts have also recently issued reports on MXL. Susquehanna cut shares of MaxLinear from a “positive” rating to a “neutral” rating and dropped their price objective for the company from $26.00 to $15.00 in a research note on Tuesday, October 1st. Northland Securities dropped their price target on MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Needham & Company LLC reiterated a “hold” rating on shares of MaxLinear in a research report on Thursday, October 24th. Benchmark reissued a “buy” rating and set a $22.00 price objective on shares of MaxLinear in a research note on Thursday, October 24th. Finally, Craig Hallum cut their target price on MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, MaxLinear has an average rating of “Hold” and an average target price of $22.29.

MaxLinear Stock Performance

NASDAQ:MXL opened at $15.87 on Friday. The company has a fifty day moving average of $14.40 and a two-hundred day moving average of $16.21. MaxLinear has a fifty-two week low of $11.08 and a fifty-two week high of $26.59. The stock has a market capitalization of $1.34 billion, a PE ratio of -5.89 and a beta of 1.85. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.95.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. The company had revenue of $81.10 million during the quarter, compared to analysts’ expectations of $80.40 million. During the same period in the prior year, the business posted ($0.02) earnings per share. The company’s quarterly revenue was down 40.2% compared to the same quarter last year. As a group, research analysts forecast that MaxLinear will post -1.66 earnings per share for the current fiscal year.

Insider Transactions at MaxLinear

In other MaxLinear news, Director Ted L. Tewksbury III sold 5,800 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $15.36, for a total value of $89,088.00. Following the sale, the director now owns 69,717 shares of the company’s stock, valued at $1,070,853.12. The trade was a 7.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP William Torgerson sold 6,100 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $15.40, for a total value of $93,940.00. Following the transaction, the vice president now owns 179,262 shares of the company’s stock, valued at approximately $2,760,634.80. This represents a 3.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.60% of the company’s stock.

Institutional Trading of MaxLinear

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Innealta Capital LLC acquired a new position in shares of MaxLinear in the second quarter valued at approximately $30,000. International Assets Investment Management LLC purchased a new position in MaxLinear in the second quarter valued at $31,000. Truvestments Capital LLC acquired a new position in MaxLinear during the 3rd quarter worth $42,000. GAMMA Investing LLC increased its holdings in MaxLinear by 151.8% during the 3rd quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 2,093 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in MaxLinear in the 2nd quarter valued at about $56,000. 90.79% of the stock is currently 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.