MaxLinear (NASDAQ:MXL) Price Target Raised to $19.00 at Wells Fargo & Company

MaxLinear (NASDAQ:MXL - Get Free Report) had its target price hoisted by Wells Fargo & Company from $14.00 to $19.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the semiconductor company's stock. Wells Fargo & Company's price target would indicate a potential downside of 11.38% from the stock's previous close.

Several other brokerages also recently commented on MXL. Benchmark increased their price objective on shares of MaxLinear from $22.00 to $28.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Needham & Company LLC reissued a "hold" rating on shares of MaxLinear in a report on Thursday, October 24th. Susquehanna lowered MaxLinear from a "positive" rating to a "neutral" rating and reduced their price objective for the stock from $26.00 to $15.00 in a research note on Tuesday, October 1st. Craig Hallum reduced their price objective on shares of MaxLinear from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Thursday, October 24th. Finally, Northland Securities lifted their target price on MaxLinear from $25.00 to $27.50 and gave the company an "outperform" rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, MaxLinear currently has an average rating of "Hold" and a consensus target price of $24.21.

MaxLinear Trading Up 3.9 %

Shares of MXL stock traded up $0.81 on Monday, hitting $21.44. 1,429,305 shares of the company's stock traded hands, compared to its average volume of 1,273,046. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of -7.88 and a beta of 1.79. The company's fifty day simple moving average is $17.73 and its 200 day simple moving average is $16.32. MaxLinear has a one year low of $11.08 and a one year 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.

MaxLinear (NASDAQ:MXL - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.04). MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%. The firm had revenue of $81.10 million during the quarter, compared to the consensus estimate of $80.40 million. During the same period last year, the business earned ($0.02) EPS. MaxLinear's revenue was down 40.2% on a year-over-year basis. Equities analysts forecast that MaxLinear will post -1.66 EPS for the current year.

Insider Activity at MaxLinear

In other news, VP William Torgerson sold 6,100 shares of the firm's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $15.40, for a total value of $93,940.00. Following the completion of the transaction, the vice president now directly owns 179,262 shares in the company, valued at $2,760,634.80. This trade represents a 3.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ted L. Tewksbury III sold 5,800 shares of MaxLinear stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $15.36, for a total transaction of $89,088.00. Following the sale, the director now owns 69,717 shares of the company's stock, valued at approximately $1,070,853.12. The trade was a 7.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,900 shares of company stock valued at $927,278 over the last ninety days. 8.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On MaxLinear

Several hedge funds have recently bought and sold shares of MXL. Hood River Capital Management LLC purchased a new position in MaxLinear in the 2nd quarter valued at about $24,184,000. Vaughan Nelson Investment Management L.P. purchased a new stake in MaxLinear in the third quarter valued at $16,696,000. Millennium Management LLC raised its holdings in MaxLinear by 307.9% in the 2nd quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company's stock valued at $21,039,000 after buying an additional 788,558 shares during the period. FMR LLC increased its holdings in MaxLinear by 184.5% in the 3rd quarter. FMR LLC now owns 456,929 shares of the semiconductor company's stock valued at $6,616,000 after purchasing an additional 296,339 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in MaxLinear by 36.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,089,065 shares of the semiconductor company's stock valued at $15,770,000 after acquiring an additional 291,874 shares during the period. Hedge funds and other 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.