MaxLinear (NASDAQ:MXL) Price Target Raised to $18.00

MaxLinear (NASDAQ:MXL) had its price target boosted by Stifel Nicolaus from $16.00 to $18.00 in a research report released on Friday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the semiconductor company’s stock.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company set a $13.00 target price on shares of MaxLinear and gave the company an “equal weight” rating in a research note on Wednesday, July 16th. Loop Capital lowered their target price on shares of MaxLinear from $18.00 to $10.00 and set a “hold” rating on the stock in a research note on Tuesday, April 29th. Benchmark reaffirmed a “buy” rating and issued a $20.00 target price on shares of MaxLinear in a research note on Thursday, April 24th. Finally, Roth Capital set a $11.00 target price on shares of MaxLinear and gave the company a “neutral” rating in a research note on Thursday, April 24th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, MaxLinear has a consensus rating of “Hold” and an average target price of $18.44.

MaxLinear Price Performance

MXL stock opened at $16.20 on Friday. The firm has a 50 day moving average of $13.15 and a 200-day moving average of $14.15. The company has a current ratio of 1.63, a quick ratio of 1.19 and a debt-to-equity ratio of 0.25. MaxLinear has a 12 month low of $8.35 and a 12 month high of $25.73. The firm has a market capitalization of $1.37 billion, a P/E ratio of -6.16 and a beta of 1.72.

MaxLinear (NASDAQ:MXL) last announced its earnings results on Wednesday, April 23rd. The semiconductor company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). The business had revenue of $95.93 million for the quarter, compared to the consensus estimate of $95.32 million. MaxLinear had a negative net margin of 61.63% and a negative return on equity of 21.86%. MaxLinear’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the firm posted ($0.21) earnings per share. As a group, sell-side analysts predict that MaxLinear will post -0.37 earnings per share for the current fiscal year.

Insider Activity at MaxLinear

In other MaxLinear news, Director Ted L. Tewksbury III sold 6,071 shares of MaxLinear stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $10.40, for a total transaction of $63,138.40. Following the transaction, the director directly owned 74,995 shares of the company’s stock, valued at approximately $779,948. This trade represents a 7.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of MaxLinear by 5.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 147,210 shares of the semiconductor company’s stock worth $2,912,000 after buying an additional 7,711 shares during the period. GAMMA Investing LLC increased its stake in shares of MaxLinear by 889.1% in the first quarter. GAMMA Investing LLC now owns 40,888 shares of the semiconductor company’s stock worth $444,000 after buying an additional 36,754 shares during the period. Principal Financial Group Inc. increased its stake in shares of MaxLinear by 2.7% in the first quarter. Principal Financial Group Inc. now owns 384,677 shares of the semiconductor company’s stock worth $4,178,000 after buying an additional 9,955 shares during the period. First Trust Advisors LP purchased a new position in shares of MaxLinear in the fourth quarter worth $280,000. Finally, Fox Run Management L.L.C. increased its stake in shares of MaxLinear by 154.7% in the fourth quarter. Fox Run Management L.L.C. now owns 63,594 shares of the semiconductor company’s stock worth $1,258,000 after buying an additional 38,622 shares during the period. 90.79% of the stock is owned by hedge funds and other institutional investors.

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.