MaxLinear (NASDAQ:MXL) Price Target Raised to $28.00

MaxLinear (NASDAQ:MXL - Free Report) had its price target hoisted by Benchmark from $22.00 to $28.00 in a report issued on Monday morning,Benzinga reports. They currently have a buy rating on the semiconductor company's stock.

Other research analysts also recently issued research reports about the stock. Needham & Company LLC reiterated a "hold" rating on shares of MaxLinear in a research report on Thursday, October 24th. Wells Fargo & Company assumed coverage on shares of MaxLinear in a report on Friday, November 22nd. They set an "equal weight" rating and a $14.00 price objective on the stock. Susquehanna downgraded MaxLinear from a "positive" rating to a "neutral" rating and reduced their target price for the company from $26.00 to $15.00 in a research note on Tuesday, October 1st. Finally, Craig Hallum dropped their price target on MaxLinear from $28.00 to $25.00 and set a "buy" rating on the stock in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $23.14.

MaxLinear Trading Up 0.9 %

Shares of MXL stock traded up $0.17 during trading hours on Monday, hitting $19.43. 1,319,293 shares of the company's stock traded hands, compared to its average volume of 1,029,359. The stock has a market cap of $1.64 billion, a PE ratio of -7.08 and a beta of 1.87. MaxLinear has a 12 month low of $11.08 and a 12 month high of $26.59. The stock's 50 day simple moving average is $14.80 and its 200 day simple moving average is $16.03. The company has a quick ratio of 1.38, a current ratio of 1.95 and a debt-to-equity ratio of 0.22.

MaxLinear (NASDAQ:MXL - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) EPS 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 the consensus estimate of $80.40 million. MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. The business's revenue was down 40.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.02) earnings per share. On average, sell-side analysts anticipate that MaxLinear will post -1.66 EPS for the current year.

Insider Transactions at MaxLinear

In other MaxLinear 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 completion of the transaction, the insider now owns 49,147 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this link. Also, Director Ted L. Tewksbury III sold 5,800 shares of the company's 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 in the company, valued at $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 sold a total of 16,900 shares of company stock worth $276,078 in the last quarter. Insiders own 8.60% of the company's stock.

Institutional Investors Weigh In On MaxLinear

A number of institutional investors and hedge funds have recently modified their holdings of MXL. Innealta Capital LLC bought a new stake in MaxLinear during the second quarter valued at $30,000. International Assets Investment Management LLC purchased a new stake in MaxLinear in the second quarter valued at approximately $31,000. Canada Pension Plan Investment Board purchased a new position in MaxLinear in the 2nd quarter worth approximately $56,000. Truvestments Capital LLC bought a new position in shares of MaxLinear in the 3rd quarter worth $42,000. Finally, GAMMA Investing LLC raised its position in shares of MaxLinear by 151.8% during the 3rd quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company's stock valued at $50,000 after buying an additional 2,093 shares in the last quarter. 90.79% of the stock is owned by hedge funds and other institutional investors.

MaxLinear Company Profile

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.