Wells Fargo & Company Forecasts Strong Price Appreciation for MaxLinear (NASDAQ:MXL) Stock

MaxLinear (NASDAQ:MXL - Free Report) had its price objective increased by Wells Fargo & Company from $19.00 to $20.00 in a research note published on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the semiconductor company's stock.

Several other equities analysts have also recently issued reports on the stock. Needham & Company LLC restated a "hold" rating on shares of MaxLinear in a research report on Thursday. Benchmark upped their price target 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. Craig Hallum decreased 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. Northland Securities upped their target price on MaxLinear from $25.00 to $27.50 and gave the company an "outperform" rating in a research report on Monday, January 6th. Finally, Susquehanna lifted their target price on MaxLinear from $20.00 to $25.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $25.50.

MaxLinear Price Performance

Shares of MaxLinear stock traded down $0.06 during trading on Thursday, reaching $17.80. 1,637,117 shares of the company's stock were exchanged, compared to its average volume of 2,262,375. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.28 and a current ratio of 1.77. MaxLinear has a 1-year low of $11.08 and a 1-year high of $26.59. The company has a market cap of $1.50 billion, a P/E ratio of -6.04 and a beta of 1.77. The firm's 50-day moving average price is $19.85 and its 200 day moving average price is $16.27.

MaxLinear (NASDAQ:MXL - Get Free Report) last posted its earnings results on Wednesday, January 29th. The semiconductor company reported ($0.27) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.14). MaxLinear had a negative return on equity of 21.94% and a negative net margin of 68.01%. As a group, research analysts anticipate that MaxLinear will post -0.21 earnings per share for the current year.

Insider Transactions at MaxLinear

In other news, insider Steven G. Litchfield sold 32,000 shares of MaxLinear stock in a transaction on Friday, December 13th. The stock was sold at an average price of $20.35, for a total value of $651,200.00. Following the completion of the transaction, the insider now directly owns 365,868 shares in the company, valued at approximately $7,445,413.80. The trade was a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ted L. Tewksbury III sold 5,800 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $15.36, for a total transaction of $89,088.00. Following the completion of the sale, the director now directly owns 69,717 shares in the company, 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 48,900 shares of company stock worth $927,278 in the last 90 days. Insiders own 8.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MXL. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of MaxLinear by 5,114.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 126,863 shares of the semiconductor company's stock worth $1,837,000 after purchasing an additional 124,430 shares in the last quarter. Quantbot Technologies LP boosted its stake in MaxLinear by 111.7% in the third quarter. Quantbot Technologies LP now owns 66,363 shares of the semiconductor company's stock worth $961,000 after buying an additional 35,018 shares in the last quarter. Two Sigma Advisers LP raised its stake in shares of MaxLinear by 21.8% during the third quarter. Two Sigma Advisers LP now owns 694,149 shares of the semiconductor company's stock worth $10,051,000 after acquiring an additional 124,300 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of MaxLinear by 339.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,250,769 shares of the semiconductor company's stock worth $24,740,000 after acquiring an additional 966,468 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in shares of MaxLinear in the 3rd quarter valued at $16,696,000. 90.79% of the stock is currently owned by institutional investors.

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.