MaxLinear (NASDAQ:MXL) Price Target Raised to $27.50 at Northland Securities

MaxLinear (NASDAQ:MXL) had its price target boosted by stock analysts at Northland Securities from $25.00 to $27.50 in a report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the semiconductor company’s stock. Northland Securities’ target price would suggest a potential upside of 33.43% from the company’s previous close.

MXL has been the topic of a number of other reports. Wells Fargo & Company initiated coverage on shares of MaxLinear in a research report on Friday, November 22nd. They set an “equal weight” rating and a $14.00 price target on the stock. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. Susquehanna lowered MaxLinear from a “positive” rating to a “neutral” rating and decreased their price objective for the company from $26.00 to $15.00 in a research report on Tuesday, October 1st. Craig Hallum dropped their target price on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Finally, Benchmark upped their price target on shares of MaxLinear from $22.00 to $28.00 and gave the company a “buy” rating in a report on Monday, December 9th. One equities 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 company. According to MarketBeat, MaxLinear has an average rating of “Hold” and an average target price of $23.50.

MaxLinear Stock Performance

Shares of MaxLinear stock opened at $20.61 on Monday. MaxLinear has a 52 week low of $11.08 and a 52 week high of $26.59. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.95. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of -7.58 and a beta of 1.79. The firm has a fifty day moving average of $17.13 and a two-hundred day moving average of $16.32.

MaxLinear (NASDAQ:MXL) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.04). The company had revenue of $81.10 million during the quarter, compared to analyst estimates of $80.40 million. MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. The company’s quarterly revenue was down 40.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.02) EPS. As a group, equities research analysts predict that MaxLinear will post -1.66 EPS for the current year.

Insider Activity at MaxLinear

In other MaxLinear news, VP William Torgerson sold 6,100 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $15.40, for a total transaction of $93,940.00. Following 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Steven G. Litchfield sold 32,000 shares of MaxLinear stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $20.35, for a total transaction of $651,200.00. Following the completion of the transaction, the insider now directly owns 365,868 shares of the company’s stock, valued at approximately $7,445,413.80. This trade represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,900 shares of company stock valued at $927,278. Corporate insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On MaxLinear

Several hedge funds have recently bought and sold shares of MXL. GAMMA Investing LLC raised its stake in MaxLinear by 19.1% in the fourth quarter. GAMMA Investing LLC now owns 4,134 shares of the semiconductor company’s stock valued at $82,000 after buying an additional 662 shares during the period. Nisa Investment Advisors LLC raised its stake in MaxLinear by 20.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 7,761 shares of the semiconductor company’s stock valued at $112,000 after acquiring an additional 1,308 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in MaxLinear by 12.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,046 shares of the semiconductor company’s stock valued at $334,000 after purchasing an additional 2,618 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in MaxLinear during the second quarter worth $56,000. Finally, Truvestments Capital LLC acquired a new position in shares of MaxLinear in the third quarter valued at $42,000. 90.79% of the stock is currently owned by institutional investors and hedge funds.

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.