MaxLinear, Inc (NASDAQ:MXL) Receives $88.64 Consensus PT from Analysts

Shares of MaxLinear, Inc (NASDAQ:MXL) have been given a consensus rating of “Hold” by the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $88.6364.

A number of analysts recently commented on MXL shares. Susquehanna upped their price objective on shares of MaxLinear from $45.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MaxLinear in a report on Friday, July 17th. Needham & Company LLC boosted their price objective on MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Stifel Nicolaus increased their price objective on shares of MaxLinear from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, Morgan Stanley set a $125.00 price objective on shares of MaxLinear in a report on Monday, September 14th.

MaxLinear Price Performance

Shares of MXL opened at $87.43 on Friday. The company has a current ratio of 1.78, a quick ratio of 1.15 and a debt-to-equity ratio of 0.26. MaxLinear has a 1 year low of $12.77 and a 1 year high of $128.30. The stock has a market cap of $7.93 billion, a P/E ratio of -73.47 and a beta of 3.93. The stock’s 50-day moving average price is $70.69 and its two-hundred day moving average price is $64.96.

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

Insider Transactions at MaxLinear

In other MaxLinear news, CEO Kishore Seendripu sold 351,454 shares of MaxLinear stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $85.95, for a total value of $30,207,471.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its stake in shares of MaxLinear by 16.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 217 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in MaxLinear by 16.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,678 shares of the semiconductor company’s stock valued at $215,000 after purchasing an additional 232 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in MaxLinear in the 2nd quarter valued at about $32,000. GAMMA Investing LLC grew its holdings in MaxLinear by 5.6% during the second quarter. GAMMA Investing LLC now owns 6,152 shares of the semiconductor company’s stock worth $788,000 after purchasing an additional 326 shares during the period. Finally, Carolina Wealth Advisors LLC bought a new position in MaxLinear during the second quarter worth about $47,000. 90.79% of the stock is currently owned by institutional investors.

MaxLinear Company Profile

MaxLinear, Inc is a fabless semiconductor company that designs and develops high-performance analog and mixed-signal integrated circuits. Its products are used in broadband communications, wired and wireless infrastructure, data center, networking, and industrial applications.

The company’s portfolio includes solutions for broadband access and connectivity, including cable and fiber-optic infrastructure, Ethernet and high-speed interconnects, optical communications, power management, interface products, and embedded processors.