MaxLinear, Inc (NASDAQ:MXL) Stock Now Rated "Moderate Buy" by Wall Street Brokerages

Key Points

• Analyst sentiment is moderately positive: Of 10 analysts covering MaxLinear, five rate it a buy, one a strong buy, three a hold, and one a sell. Their average 12-month price target is $94.30.
• Latest quarterly results beat estimates: MaxLinear reported EPS of $0.62 versus $0.56 expected and revenue of $218.06 million versus $214.95 million expected; revenue rose 72.4% year over year.
• The stock opened at $49.18, within a wide 52-week range of $12.77 to $128.30. CEO Kishore Seendripu sold 351,454 shares in August for about $30.2 million.

Shares of MaxLinear, Inc (NASDAQ:MXL - Get Free Report) have received an average rating of "Moderate Buy" from the ten analysts that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $94.30.

MXL has been the topic of several research analyst reports. Zacks Research upgraded shares of MaxLinear from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 28th. Morgan Stanley set a $125.00 price target on MaxLinear in a report on Monday, September 14th. Roth Capital raised their target price on MaxLinear from $60.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. Stifel Nicolaus upped their target price on shares of MaxLinear from $110.00 to $120.00 and gave the company a "buy" rating in a research note on Friday, July 24th. Finally, Susquehanna set a $70.00 price target on shares of MaxLinear in a research note on Friday, October 23rd.

MaxLinear Price Performance

MaxLinear stock opened at $49.18 on Monday. The firm's fifty day simple moving average is $76.26 and its 200-day simple moving average is $60.27. MaxLinear has a 1-year low of $12.77 and a 1-year high of $128.30. The company has a current ratio of 2.22, a quick ratio of 1.57 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $4.48 billion, a P/E ratio of -132.92 and a beta of 3.97.

MaxLinear (NASDAQ:MXL - Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The semiconductor company reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.06. The company had revenue of $218.06 million for the quarter, compared to analyst estimates of $214.95 million. MaxLinear had a negative net margin of 4.45% and a positive return on equity of 12.89%. The company's quarterly revenue was up 72.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.14 earnings per share. Sell-side analysts forecast that MaxLinear will post 1.10 earnings per share for the current fiscal year.

Insider Buying and Selling at MaxLinear

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

Institutional Trading of MaxLinear

A number of hedge funds and other institutional investors have recently modified their holdings of MXL. BlackRock Inc. acquired a new stake in shares of MaxLinear in the 2nd quarter valued at about $1,754,062,000. Dimensional Fund Advisors LP lifted its position in MaxLinear by 7.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,689,692 shares of the semiconductor company's stock worth $29,376,000 after buying an additional 113,058 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of MaxLinear during the 2nd quarter worth about $165,221,000. AIGH Capital Management LLC bought a new position in shares of MaxLinear in the 2nd quarter valued at about $104,729,000. Finally, Bank of America Corp DE increased its position in shares of MaxLinear by 6.9% in the first quarter. Bank of America Corp DE now owns 641,034 shares of the semiconductor company's stock valued at $11,148,000 after acquiring an additional 41,119 shares during the last quarter. Institutional investors and hedge funds own 90.79% of the company's stock.

About MaxLinear

MaxLinear, Inc is a fabless semiconductor company that designs radio-frequency, analog and mixed-signal components, as well as system-on-chip products. Its technologies are used to move and process data in broadband, wireless, wired-networking and infrastructure applications.

The company's products support equipment such as broadband access devices, Wi-Fi systems, Ethernet and optical networking equipment, and wireless infrastructure. MaxLinear sells to customers around the world, including communications equipment manufacturers and other technology companies.

Founded in 2003, MaxLinear is headquartered in Carlsbad, California.

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