Brokerages Set MaxLinear, Inc (NASDAQ:MXL) PT at $85.00

Shares of MaxLinear, Inc (NASDAQ:MXL) have been assigned an average rating of “Hold” from the ten ratings firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $85.00.

A number of brokerages have recently issued reports on MXL. Northland Securities set a $110.00 target price on MaxLinear in a report on Wednesday, June 3rd. Wells Fargo & Company raised their price target on shares of MaxLinear from $42.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, July 20th. Benchmark initiated coverage on shares of MaxLinear in a research report on Wednesday, May 27th. They set a “buy” rating and a $125.00 price target on the stock. Wall Street Zen upgraded shares of MaxLinear from a “hold” rating to a “buy” rating in a research note on Sunday, July 26th. Finally, Roth Capital increased their price objective on shares of MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, July 24th.

Insider Buying and Selling at MaxLinear

In related news, CEO Kishore Seendripu sold 351,454 shares of the company’s stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pure Financial Advisors LLC purchased a new stake in shares of MaxLinear during the fourth quarter valued at approximately $1,424,000. HighTower Advisors LLC lifted its position in shares of MaxLinear by 1.7% during the fourth quarter. HighTower Advisors LLC now owns 656,319 shares of the semiconductor company’s stock worth $11,440,000 after purchasing an additional 10,948 shares in the last quarter. Pictet Asset Management Holding SA purchased a new position in shares of MaxLinear in the fourth quarter valued at $190,000. Assenagon Asset Management S.A. boosted its stake in shares of MaxLinear by 110.9% in the second quarter. Assenagon Asset Management S.A. now owns 221,266 shares of the semiconductor company’s stock valued at $28,329,000 after purchasing an additional 116,339 shares during the period. Finally, AIGH Capital Management LLC acquired a new stake in MaxLinear during the 2nd quarter valued at $104,729,000. Institutional investors and hedge funds own 90.79% of the company’s stock.

MaxLinear Stock Performance

Shares of MXL opened at $61.73 on Wednesday. The company has a current ratio of 1.78, a quick ratio of 1.15 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $5.60 billion, a P/E ratio of -51.87 and a beta of 3.96. The stock’s fifty day simple moving average is $79.84 and its 200 day simple moving average is $58.90. MaxLinear has a twelve month low of $12.77 and a twelve month high of $128.30.

MaxLinear (NASDAQ:MXL) last issued its earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The firm had revenue of $168.85 million for the quarter, compared to analysts’ expectations of $164.64 million. MaxLinear had a positive return on equity of 2.24% and a negative net margin of 18.24%.The firm’s revenue for the quarter was up 55.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.02 earnings per share. On average, equities research analysts forecast that MaxLinear will post 0.78 earnings per share for the current year.

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.