MaxLinear, Inc (NASDAQ:MXL) Receives Average Rating of "Hold" from Brokerages

Key Points

• Analyst consensus is “Hold” for MaxLinear, with five buys, four holds, and one sell among 10 analysts. The average 12-month price target is $88.64, though individual targets range from $80 to $125.
• MaxLinear reported quarterly EPS of $0.35, exceeding the $0.33 consensus estimate, while revenue rose 55.2% year over year to $168.85 million. Analysts expect full-year EPS of $0.78.
• The stock opened at $81.12, after trading between $12.77 and $128.30 over the past year. Institutional investors own 90.79% of shares, while CEO Kishore Seendripu recently sold roughly $30.2 million worth of stock.

MaxLinear, Inc (NASDAQ:MXL - Get Free Report) has been assigned an average recommendation of "Hold" from the ten analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $88.6364.

Several research analysts have issued reports on MXL shares. Susquehanna lifted their price target on shares of MaxLinear from $45.00 to $80.00 and gave the stock a "neutral" rating in a research report on Friday, July 24th. Morgan Stanley set a $125.00 price objective on MaxLinear in a research note on Monday, September 14th. Stifel Nicolaus raised their price objective on MaxLinear from $110.00 to $120.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. Needham & Company LLC lifted their target price on MaxLinear from $60.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Finally, Wall Street Zen raised MaxLinear from a "hold" rating to a "buy" rating in a research report on Sunday, July 26th.

Insider Buying and Selling at MaxLinear

In related news, CEO Kishore Seendripu sold 351,454 shares of MaxLinear stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $85.95, for a total value of $30,207,471.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. 7.70% of the stock is owned by company insiders.

Institutional Trading of MaxLinear

A number of hedge funds have recently bought and sold shares of the company. HighTower Advisors LLC raised its holdings in shares of MaxLinear by 1.7% during the fourth quarter. HighTower Advisors LLC now owns 656,319 shares of the semiconductor company's stock valued at $11,440,000 after acquiring an additional 10,948 shares during the period. AIGH Capital Management LLC acquired a new position in MaxLinear in the 2nd quarter worth approximately $104,729,000. Assenagon Asset Management S.A. boosted its stake in MaxLinear by 110.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 221,266 shares of the semiconductor company's stock worth $28,329,000 after purchasing an additional 116,339 shares during the period. BlackRock Inc. purchased a new position in MaxLinear during the 2nd quarter worth approximately $1,754,062,000. Finally, UNICOM Systems Inc. purchased a new position in MaxLinear during the 2nd quarter worth approximately $14,711,000. 90.79% of the stock is owned by hedge funds and other institutional investors.

MaxLinear Stock Performance

NASDAQ:MXL opened at $81.12 on Friday. MaxLinear has a twelve month low of $12.77 and a twelve month high of $128.30. The company has a current ratio of 1.78, a quick ratio of 1.15 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average of $70.86 and a 200-day moving average of $63.66. The firm has a market cap of $7.36 billion, a price-to-earnings ratio of -68.17 and a beta of 3.93.

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

About MaxLinear

MaxLinear, Inc is a fabless semiconductor company that designs and develops high-performance analog and mixed-signal integrated circuits. Its products are used in broadband communications, wired and wireless infrastructure, data center, networking, and industrial applications.

The company's portfolio includes solutions for broadband access and connectivity, including cable and fiber-optic infrastructure, Ethernet and high-speed interconnects, optical communications, power management, interface products, and embedded processors.

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