MaxLinear (NASDAQ:MXL – Free Report) had its target price hoisted by Wells Fargo & Company from $14.00 to $19.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an equal weight rating on the semiconductor company’s stock.
A number of other analysts have also recently issued reports on the company. Benchmark boosted their target price on MaxLinear from $22.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Needham & Company LLC reiterated a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. Susquehanna downgraded shares of MaxLinear from a “positive” rating to a “neutral” rating and cut their target price for the company from $26.00 to $15.00 in a research note on Tuesday, October 1st. Northland Securities lifted their target price on shares of MaxLinear from $25.00 to $27.50 and gave the company an “outperform” rating in a report on Monday, January 6th. Finally, Craig Hallum lowered their price target on MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, MaxLinear has a consensus rating of “Hold” and a consensus target price of $24.21.
Check Out Our Latest Stock Report on MaxLinear
MaxLinear Stock Performance
MaxLinear (NASDAQ:MXL – Get Free Report) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. The firm had revenue of $81.10 million during the quarter, compared to analyst estimates of $80.40 million. During the same quarter in the previous year, the business posted ($0.02) EPS. MaxLinear’s revenue was down 40.2% compared to the same quarter last year. Analysts expect that MaxLinear will post -1.66 EPS for the current year.
Insider Activity
In other news, insider Connie H. Kwong sold 5,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $18.61, for a total transaction of $93,050.00. Following the transaction, the insider now owns 49,147 shares of the company’s stock, valued at approximately $914,625.67. This trade represents a 9.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP William Torgerson sold 6,100 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $15.40, for a total value of $93,940.00. Following the completion of the sale, the vice president now directly owns 179,262 shares of the company’s stock, valued at approximately $2,760,634.80. This represents a 3.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,900 shares of company stock worth $927,278 over the last ninety days. Corporate insiders own 8.60% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of MXL. Truvestments Capital LLC bought a new stake in shares of MaxLinear in the 3rd quarter valued at approximately $42,000. GAMMA Investing LLC boosted its holdings in MaxLinear by 151.8% in the third quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 2,093 shares during the period. Canada Pension Plan Investment Board bought a new stake in MaxLinear during the second quarter valued at $56,000. CWM LLC raised its holdings in shares of MaxLinear by 321.3% during the third quarter. CWM LLC now owns 5,793 shares of the semiconductor company’s stock worth $84,000 after purchasing an additional 4,418 shares during the period. Finally, Nisa Investment Advisors LLC raised its holdings in shares of MaxLinear by 20.3% during the third quarter. Nisa Investment Advisors LLC now owns 7,761 shares of the semiconductor company’s stock worth $112,000 after purchasing an additional 1,308 shares during the period. Institutional investors own 90.79% of the company’s stock.
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.
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