MaxLinear, Inc (MXL) - What Are Brokerages Saying About This Stock?

Key Points

• Analyst sentiment is mixed: Nine brokerages give MaxLinear a consensus “Hold” rating, with five buys, three holds, and one sell. The average 12-month price target is $88.64, while recent targets ranged from $80 to $120.
• Quarterly results exceeded expectations: MaxLinear reported earnings of $0.35 per share versus the $0.33 consensus estimate and revenue of $168.85 million, up 55.2% year over year.
• Insider selling contrasts with strong institutional ownership: CEO Kishore Seendripu sold shares worth approximately $30.2 million, while institutional investors and hedge funds collectively own 90.79% of the company.

Shares of MaxLinear, Inc (NASDAQ:MXL - Get Free Report) have earned a consensus recommendation of "Hold" from the nine ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $88.64.

A number of brokerages recently weighed in on MXL. Stifel Nicolaus increased their price target on shares of MaxLinear from $110.00 to $120.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. Wall Street Zen raised shares of MaxLinear from a "hold" rating to a "buy" rating in a research report on Sunday, July 26th. Needham & Company LLC lifted their price objective on shares of MaxLinear from $60.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, July 24th. Susquehanna upped their target price on shares of MaxLinear from $45.00 to $80.00 and gave the company a "neutral" rating in a report on Friday, July 24th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of MaxLinear in a report on Friday, July 17th.

MaxLinear Stock Down 11.1%

Shares of NASDAQ MXL opened at $78.82 on Thursday. The stock has a market cap of $7.15 billion, a PE ratio of -66.24 and a beta of 3.93. The company has a quick ratio of 1.15, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. MaxLinear has a 52-week low of $12.77 and a 52-week high of $128.30. The business has a 50-day moving average price of $77.40 and a 200 day moving average price of $73.66.

MaxLinear (NASDAQ:MXL - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. The company had revenue of $168.85 million for the quarter, compared to analyst estimates of $164.64 million. MaxLinear had a positive return on equity of 2.24% and a negative net margin of 18.24%. The firm's revenue was up 55.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 earnings per share. Equities research analysts forecast that MaxLinear will post 0.78 earnings per share for the current year.

Insider Activity

In other news, CEO Kishore Seendripu sold 351,454 shares of the business's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $85.95, for a total value of $30,207,471.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 7.70% of the company's stock.

Institutional Trading of MaxLinear

Hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its holdings in MaxLinear by 16.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company's stock valued at $27,000 after buying an additional 217 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of MaxLinear by 16.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,678 shares of the semiconductor company's stock valued at $215,000 after acquiring an additional 232 shares during the period. Ameritas Advisory Services LLC purchased a new stake in shares of MaxLinear during the 2nd quarter worth approximately $32,000. GAMMA Investing LLC boosted its stake in shares of MaxLinear by 5.6% during the 2nd quarter. GAMMA Investing LLC now owns 6,152 shares of the semiconductor company's stock worth $788,000 after acquiring an additional 326 shares in the last quarter. Finally, Carolina Wealth Advisors LLC purchased a new stake in shares of MaxLinear during the 2nd quarter worth approximately $47,000. Institutional investors and hedge funds own 90.79% of the company's stock.

About MaxLinear

MaxLinear, Inc is a fabless semiconductor company that develops high-performance analog and mixed-signal integrated circuits for communications and connectivity applications. Its products are designed to help equipment manufacturers process, transmit and manage data across broadband, wired and wireless infrastructure, data center, and industrial systems.

The company's product portfolio includes broadband access and connectivity solutions, RF and microwave components, Ethernet and high-speed interconnect products, optical networking technologies, and power-management devices.

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