MaxLinear, Inc (MXL) Given New $32.00 Price Target at Deutsche Bank AG
MaxLinear, Inc (NYSE:MXL) had its price target dropped by equities researchers at Deutsche Bank AG from $33.00 to $32.00 in a research note issued on Friday. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Deutsche Bank AG’s target price points to a potential upside of 18.26% from the company’s current price.
Several other research firms have also weighed in on MXL. Needham & Company LLC boosted their target price on MaxLinear from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, June 9th. Zacks Investment Research lowered MaxLinear from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. Stifel Nicolaus boosted their target price on MaxLinear from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, April 6th. Finally, BidaskClub lowered MaxLinear from a “buy” rating to a “hold” rating in a report on Friday, June 30th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $31.50.
Shares of MaxLinear (NYSE MXL) traded down 0.99% during mid-day trading on Friday, reaching $27.06. 363,271 shares of the company’s stock traded hands. MaxLinear has a 1-year low of $17.13 and a 1-year high of $32.47. The firm has a 50-day moving average price of $28.80 and a 200-day moving average price of $27.44. The company has a market capitalization of $1.77 billion, a P/E ratio of 37.43 and a beta of 0.63.
MaxLinear (NYSE:MXL) last posted its earnings results on Tuesday, May 9th. The semiconductor company reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.04. MaxLinear had a return on equity of 26.77% and a net margin of 13.12%. The firm had revenue of $88.84 million during the quarter, compared to analyst estimates of $88.02 million. During the same period in the previous year, the company earned $0.47 EPS. The company’s revenue for the quarter was down 13.5% on a year-over-year basis. On average, equities research analysts forecast that MaxLinear will post $1.45 earnings per share for the current fiscal year.
In other news, VP Michael J. Lachance sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $31.12, for a total transaction of $1,244,800.00. Following the sale, the vice president now directly owns 84,734 shares in the company, valued at $2,636,922.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Steven Craddock sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $30.86, for a total value of $617,200.00. Following the sale, the director now owns 73,752 shares in the company, valued at $2,275,986.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 276,004 shares of company stock worth $8,638,836. Company insiders own 11.92% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. purchased a new stake in MaxLinear during the fourth quarter worth about $354,000. Swiss National Bank boosted its stake in MaxLinear by 1.5% in the first quarter. Swiss National Bank now owns 95,673 shares of the semiconductor company’s stock worth $2,684,000 after buying an additional 1,400 shares in the last quarter. Piedmont Investment Advisors LLC boosted its stake in MaxLinear by 9.0% in the first quarter. Piedmont Investment Advisors LLC now owns 34,005 shares of the semiconductor company’s stock worth $954,000 after buying an additional 2,805 shares in the last quarter. Emerald Advisers Inc. PA purchased a new stake in MaxLinear during the first quarter worth about $12,161,000. Finally, Envestnet Asset Management Inc. boosted its stake in MaxLinear by 28.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,780 shares of the semiconductor company’s stock worth $125,000 after buying an additional 1,267 shares in the last quarter. Institutional investors and hedge funds own 84.10% of the company’s stock.
MaxLinear, Inc is a provider of radio frequency (RF) and mixed-signal integrated circuits for cable and satellite broadband communications and the connected home, and wired and wireless infrastructure markets. The Company’s RF receiver products capture and process digital and analog broadband signals to be decoded for various applications.
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