MaxLinear, Inc (NASDAQ:MXL) Receives $65.50 Consensus Price Target from Analysts

Shares of MaxLinear, Inc (NASDAQ:MXL) have been given a consensus recommendation of “Hold” by the ten analysts that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $65.50.

A number of analysts have weighed in on MXL shares. Northland Securities set a $110.00 target price on MaxLinear in a research note on Wednesday, June 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a report on Tuesday, April 21st. Needham & Company LLC upgraded shares of MaxLinear from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Friday, April 24th. Stifel Nicolaus boosted their price target on MaxLinear from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Finally, Wall Street Zen upgraded shares of MaxLinear from a “hold” rating to a “buy” rating in a report on Sunday, July 5th.

MaxLinear Price Performance

MXL stock traded down $4.50 during midday trading on Tuesday, hitting $91.30. The company’s stock had a trading volume of 1,413,087 shares, compared to its average volume of 3,436,879. The firm has a market capitalization of $8.18 billion, a price-to-earnings ratio of -60.07 and a beta of 3.91. The company has a quick ratio of 1.12, a current ratio of 1.70 and a debt-to-equity ratio of 0.27. MaxLinear has a 12 month low of $12.77 and a 12 month high of $128.30. The company has a 50 day moving average of $91.19 and a two-hundred day moving average of $45.33.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings data on Thursday, April 23rd. The semiconductor company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.18 by $0.04. The business had revenue of $137.19 million during the quarter, compared to the consensus estimate of $137.15 million. MaxLinear had a negative net margin of 25.96% and a negative return on equity of 2.33%. The business’s revenue was up 43.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.05) EPS. On average, analysts expect that MaxLinear will post 0.52 EPS for the current year.

Insider Buying and Selling at MaxLinear

In related news, Director Thomas E. Pardun sold 11,000 shares of MaxLinear stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $105.00, for a total transaction of $1,155,000.00. Following the completion of the sale, the director owned 55,252 shares of the company’s stock, valued at $5,801,460. The trade was a 16.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Connie H. Kwong sold 35,000 shares of MaxLinear stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $96.96, for a total value of $3,393,600.00. Following the transaction, the insider owned 13,947 shares of the company’s stock, valued at $1,352,301.12. The trade was a 71.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 65,168 shares of company stock worth $5,559,358. 7.70% of the stock is owned by insiders.

Institutional Trading of MaxLinear

Several large investors have recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in shares of MaxLinear by 3.1% in the first quarter. Royal Bank of Canada now owns 72,664 shares of the semiconductor company’s stock valued at $789,000 after purchasing an additional 2,204 shares during the period. AQR Capital Management LLC grew its stake in shares of MaxLinear by 56.0% in the 1st quarter. AQR Capital Management LLC now owns 296,297 shares of the semiconductor company’s stock valued at $3,218,000 after buying an additional 106,355 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of MaxLinear by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,437 shares of the semiconductor company’s stock worth $515,000 after buying an additional 2,043 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of MaxLinear by 0.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 535,230 shares of the semiconductor company’s stock valued at $5,813,000 after buying an additional 2,039 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in MaxLinear by 23.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 182,362 shares of the semiconductor company’s stock valued at $1,980,000 after acquiring an additional 35,152 shares during the last quarter. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

About MaxLinear

MaxLinear, Inc is a provider of radio-frequency (RF), analog, and mixed-signal integrated circuits for broadband communications, data center connectivity, and video infrastructure applications. The company’s product portfolio includes high-performance RF front-end modules, broadband power amplifiers, optical and Ethernet transceivers, and network processors designed to support demanding signal processing requirements.

MaxLinear’s semiconductor solutions are used by cable and satellite television operators, fiber-to-the-home service providers, network equipment manufacturers, and data center operators.