Northland Securities Forecasts Strong Price Appreciation for MaxLinear (NASDAQ:MXL) Stock

MaxLinear (NASDAQ:MXL) had its price target upped by investment analysts at Northland Securities from $25.00 to $27.50 in a research report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the semiconductor company’s stock. Northland Securities’ target price would suggest a potential upside of 37.98% from the company’s previous close.

MXL has been the subject of several other reports. Wells Fargo & Company assumed coverage on shares of MaxLinear in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $14.00 target price for the company. Craig Hallum reduced their price target on MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a report on Thursday, October 24th. Susquehanna lowered MaxLinear from a “positive” rating to a “neutral” rating and lowered their price objective for the stock from $26.00 to $15.00 in a research note on Tuesday, October 1st. Finally, Benchmark boosted their target price on shares of MaxLinear from $22.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $23.50.

MaxLinear Price Performance

NASDAQ MXL opened at $19.93 on Monday. The stock’s 50-day moving average price is $17.32 and its two-hundred day moving average price is $16.31. The company has a market cap of $1.68 billion, a PE ratio of -7.33 and a beta of 1.79. The company has a current ratio of 1.95, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22. MaxLinear has a 1 year low of $11.08 and a 1 year high of $26.59.

MaxLinear (NASDAQ:MXL) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). The firm had revenue of $81.10 million during the quarter, compared to analysts’ expectations of $80.40 million. MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. The business’s revenue for the quarter was down 40.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.02) EPS. On average, analysts predict that MaxLinear will post -1.66 EPS for the current year.

Insider Buying and Selling

In other MaxLinear news, Director Ted L. Tewksbury III sold 5,800 shares of the company’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 transaction of $89,088.00. Following the sale, the director now directly owns 69,717 shares in the company, valued at $1,070,853.12. This represents a 7.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Steven G. Litchfield sold 32,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $20.35, for a total value of $651,200.00. Following the transaction, the insider now directly owns 365,868 shares in the company, valued at approximately $7,445,413.80. This represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,900 shares of company stock valued at $927,278. 8.60% of the stock is owned by company insiders.

Institutional Trading of MaxLinear

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp lifted its stake in MaxLinear by 5.1% in the 3rd quarter. State Street Corp now owns 4,123,419 shares of the semiconductor company’s stock valued at $59,707,000 after buying an additional 198,791 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in MaxLinear by 10.2% in the second 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 last quarter. Geode Capital Management LLC boosted its position in shares of MaxLinear by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,805,722 shares of the semiconductor company’s stock worth $26,152,000 after purchasing an additional 6,420 shares during the period. Hood River Capital Management LLC purchased a new position in shares of MaxLinear during the second quarter worth $24,184,000. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in MaxLinear in the 3rd quarter valued at about $16,696,000. Institutional investors and hedge funds own 90.79% of the company’s stock.

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.