MaxLinear (NASDAQ:MXL) Price Target Raised to $25.00 at Susquehanna

MaxLinear (NASDAQ:MXL) had its price objective hoisted by Susquehanna from $20.00 to $25.00 in a research report released on Wednesday,Benzinga reports. Susquehanna currently has a neutral rating on the semiconductor company’s stock.

Several other analysts have also issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. Northland Securities raised their price objective on MaxLinear from $25.00 to $27.50 and gave the company an “outperform” rating in a research note on Monday, January 6th. Craig Hallum dropped 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. Wells Fargo & Company raised their target price on shares of MaxLinear from $14.00 to $19.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Finally, Benchmark upped their price target on shares of MaxLinear from $22.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $25.64.

MaxLinear Stock Down 2.8 %

NASDAQ MXL opened at $24.23 on Wednesday. MaxLinear has a 12-month low of $11.08 and a 12-month high of $26.59. The firm’s 50 day moving average is $19.05 and its 200-day moving average is $16.46. The company has a current ratio of 1.95, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22.

MaxLinear (NASDAQ:MXL) last released its 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 net margin of 57.37% and a negative return on equity of 19.22%. The company had revenue of $81.10 million during the quarter, compared to analyst estimates of $80.40 million. During the same period in the prior year, the firm posted ($0.02) EPS. MaxLinear’s revenue was down 40.2% compared to the same quarter last year. Equities research analysts predict that MaxLinear will post -1.66 EPS for the current fiscal year.

Insider Activity

In other MaxLinear news, insider Connie H. Kwong sold 5,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $18.61, for a total transaction of $93,050.00. Following the transaction, the insider now directly owns 49,147 shares in the company, valued at approximately $914,625.67. This represents a 9.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven G. Litchfield sold 32,000 shares of MaxLinear stock in a transaction on 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 sale, the insider now owns 365,868 shares of the company’s stock, valued at $7,445,413.80. This represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,900 shares of company stock valued at $927,278. 8.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MaxLinear

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its holdings in shares of MaxLinear by 10.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,071,183 shares of the semiconductor company’s stock valued at $41,714,000 after acquiring an additional 192,021 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in MaxLinear during the 2nd quarter valued at $56,000. Sei Investments Co. raised its holdings in MaxLinear by 40.5% during the second quarter. Sei Investments Co. now owns 30,537 shares of the semiconductor company’s stock worth $615,000 after buying an additional 8,808 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in shares of MaxLinear by 8.0% in the second quarter. Public Sector Pension Investment Board now owns 166,330 shares of the semiconductor company’s stock valued at $3,350,000 after buying an additional 12,309 shares in the last quarter. Finally, Bank of Montreal Can acquired a new position in shares of MaxLinear during the second quarter valued at about $1,480,000. 90.79% of the stock is owned by 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.