MaxLinear, Inc. (NASDAQ:MXL) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of MaxLinear, Inc. (NASDAQ:MXL) have received an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $23.14.

Several brokerages have recently issued reports on MXL. Benchmark boosted their price objective on MaxLinear from $22.00 to $28.00 and gave the company a “buy” rating in a report on Monday, December 9th. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a report on Thursday, October 24th. Wells Fargo & Company assumed coverage on MaxLinear in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $14.00 price objective on the stock. Susquehanna lowered shares of MaxLinear from a “positive” rating to a “neutral” rating and cut their target price for the company from $26.00 to $15.00 in a report on Tuesday, October 1st. Finally, Craig Hallum lowered their price target on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, October 24th.

MaxLinear Price Performance

Shares of NASDAQ MXL opened at $19.57 on Friday. MaxLinear has a 52 week low of $11.08 and a 52 week high of $26.59. The business’s 50 day moving average price is $17.01 and its 200 day moving average price is $16.32. The company has a quick ratio of 1.38, a current ratio of 1.95 and a debt-to-equity ratio of 0.22. The firm has a market cap of $1.65 billion, a P/E ratio of -7.19 and a beta of 1.87.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported ($0.36) EPS for the quarter, missing the consensus estimate 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 business had revenue of $81.10 million during the quarter, compared to analysts’ expectations of $80.40 million. During the same period last year, the company earned ($0.02) earnings per share. The firm’s revenue was down 40.2% on a year-over-year basis. On average, sell-side analysts expect that MaxLinear will post -1.66 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP William Torgerson sold 6,100 shares of MaxLinear stock in a transaction that occurred 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 sale, the vice president now directly owns 179,262 shares of the company’s stock, valued at $2,760,634.80. The trade was a 3.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Connie H. Kwong sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $18.61, for a total value of $93,050.00. Following the sale, the insider now owns 49,147 shares of the company’s stock, valued at $914,625.67. The trade was a 9.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,900 shares of company stock worth $927,278. Company insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC purchased a new position in shares of MaxLinear during the 2nd quarter worth $31,000. Rhumbline Advisers raised its stake in MaxLinear by 2.2% during the second quarter. Rhumbline Advisers now owns 222,267 shares of the semiconductor company’s stock worth $4,476,000 after purchasing an additional 4,760 shares during the period. Acadian Asset Management LLC purchased a new position in MaxLinear during the second quarter worth about $540,000. Quest Partners LLC boosted its holdings in MaxLinear by 63,036.7% in the 2nd quarter. Quest Partners LLC now owns 18,941 shares of the semiconductor company’s stock valued at $381,000 after purchasing an additional 18,911 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of MaxLinear by 10.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,071,183 shares of the semiconductor company’s stock valued at $41,714,000 after buying an additional 192,021 shares during the period. 90.79% of the stock is currently owned by institutional investors and hedge funds.

About MaxLinear

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.