Wells Fargo & Company Begins Coverage on MaxLinear (NASDAQ:MXL)

Research analysts at Wells Fargo & Company assumed coverage on shares of MaxLinear (NASDAQ:MXL - Get Free Report) in a research note issued on Friday, Marketbeat reports. The firm set an "equal weight" rating and a $14.00 price target on the semiconductor company's stock. Wells Fargo & Company's price target would indicate a potential downside of 10.43% from the stock's previous close.

MXL has been the topic of a number of other reports. Needham & Company LLC restated a "hold" rating on shares of MaxLinear in a report on Thursday, October 24th. Benchmark restated a "buy" rating and issued a $22.00 price target on shares of MaxLinear in a report on Thursday, October 24th. Susquehanna lowered shares of MaxLinear from a "positive" rating to a "neutral" rating and dropped their price objective for the company from $26.00 to $15.00 in a report on Tuesday, October 1st. Northland Securities dropped their price target on MaxLinear from $30.00 to $25.00 and set an "outperform" rating on the stock in a research note on Thursday, July 25th. Finally, Craig Hallum reduced their price objective on MaxLinear from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Thursday, October 24th. 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 stock. According to data from MarketBeat, MaxLinear currently has an average rating of "Hold" and a consensus price target of $22.29.

MaxLinear Price Performance

Shares of MaxLinear stock traded down $0.11 on Friday, reaching $15.63. 609,610 shares of the stock were exchanged, compared to its average volume of 996,681. MaxLinear has a one year low of $11.08 and a one year high of $26.59. The firm has a market cap of $1.32 billion, a PE ratio of -5.67 and a beta of 1.85. 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 firm's 50 day moving average is $14.37 and its 200-day moving average is $16.29.

MaxLinear (NASDAQ:MXL - Get Free Report) last issued its quarterly earnings data 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). The business 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 firm's quarterly revenue was down 40.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.02) EPS. As a group, analysts anticipate that MaxLinear will post -1.66 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP William Torgerson sold 6,100 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $15.40, for a total transaction of $93,940.00. Following the sale, the vice president now owns 179,262 shares of the company's stock, valued at approximately $2,760,634.80. This represents a 3.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.60% of the stock is owned by insiders.

Institutional Investors Weigh In On MaxLinear

Several hedge funds and other institutional investors have recently modified their holdings of MXL. Innealta Capital LLC bought a new position in shares of MaxLinear in the 2nd quarter worth $30,000. International Assets Investment Management LLC purchased a new position in shares of MaxLinear in the 2nd quarter worth about $31,000. Canada Pension Plan Investment Board bought a new position in shares of MaxLinear during the 2nd quarter valued at about $56,000. Truvestments Capital LLC bought a new position in shares of MaxLinear during the 3rd quarter valued at about $42,000. Finally, EntryPoint Capital LLC purchased a new position in shares of MaxLinear during the 1st quarter valued at about $59,000. 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.