MaxLinear (NASDAQ:MXL) Given a $13.00 Price Target by Wells Fargo & Company Analysts

MaxLinear (NASDAQ:MXL) has been given a $13.00 price objective by equities researchers at Wells Fargo & Company in a report issued on Wednesday, MarketBeat reports. The firm presently has an “equal weight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s price target would indicate a potential downside of 16.61% from the company’s previous close.

Several other research firms have also recently commented on MXL. Roth Capital set a $11.00 price target on shares of MaxLinear and gave the stock a “neutral” rating in a report on Thursday, April 24th. Benchmark reissued a “buy” rating and issued a $20.00 price target on shares of MaxLinear in a research report on Thursday, April 24th. Loop Capital dropped their target price on shares of MaxLinear from $18.00 to $10.00 and set a “hold” rating on the stock in a research report on Tuesday, April 29th. Finally, Stifel Nicolaus lowered their price target on shares of MaxLinear from $26.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $18.19.

MaxLinear Stock Performance

Shares of MXL stock opened at $15.59 on Wednesday. MaxLinear has a one year low of $8.35 and a one year high of $26.13. The firm’s 50 day moving average price is $13.05 and its 200-day moving average price is $14.25. The firm has a market cap of $1.32 billion, a P/E ratio of -5.93 and a beta of 1.72. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 1.63.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). MaxLinear had a negative net margin of 61.63% and a negative return on equity of 21.86%. The firm had revenue of $95.93 million during the quarter, compared to analysts’ expectations of $95.32 million. During the same quarter in the prior year, the business earned ($0.21) EPS. MaxLinear’s quarterly revenue was up .7% compared to the same quarter last year. As a group, equities research analysts predict that MaxLinear will post -0.37 EPS for the current year.

Insider Transactions at MaxLinear

In other news, Director Ted L. Tewksbury III sold 6,071 shares of MaxLinear stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $10.40, for a total value of $63,138.40. Following the sale, the director directly owned 74,995 shares in the company, valued at approximately $779,948. This trade represents a 7.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its holdings in MaxLinear by 1.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 60,406 shares of the semiconductor company’s stock valued at $1,195,000 after purchasing an additional 631 shares during the period. Blair William & Co. IL raised its position in MaxLinear by 4.1% during the first quarter. Blair William & Co. IL now owns 22,756 shares of the semiconductor company’s stock valued at $247,000 after purchasing an additional 902 shares during the period. GAMMA Investing LLC raised its position in MaxLinear by 36.6% during the second quarter. GAMMA Investing LLC now owns 5,143 shares of the semiconductor company’s stock valued at $73,000 after purchasing an additional 1,378 shares during the period. Panagora Asset Management Inc. grew its stake in shares of MaxLinear by 0.7% during the first quarter. Panagora Asset Management Inc. now owns 226,123 shares of the semiconductor company’s stock valued at $2,456,000 after buying an additional 1,635 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new position in MaxLinear in the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors 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.