Wells Fargo & Company Forecasts Strong Price Appreciation for MaxLinear (NASDAQ:MXL) Stock

MaxLinear (NASDAQ:MXL - Free Report) had its target price increased by Wells Fargo & Company from $13.00 to $18.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the semiconductor company's stock.

A number of other research firms also recently issued reports on MXL. Loop Capital decreased their price target on shares of MaxLinear from $18.00 to $10.00 and set a "hold" rating for the company in a research note on Tuesday, April 29th. Stifel Nicolaus upped their price objective on shares of MaxLinear from $16.00 to $18.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Roth Capital set a $11.00 price objective on shares of MaxLinear and gave the stock a "neutral" rating in a report on Thursday, April 24th. Benchmark upped their price objective on shares of MaxLinear from $20.00 to $25.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Susquehanna upped their price objective on shares of MaxLinear from $11.00 to $15.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $18.69.

MaxLinear Trading Up 2.3%

MXL stock traded up $0.38 during trading on Thursday, reaching $16.74. The company had a trading volume of 2,190,413 shares, compared to its average volume of 1,622,603. MaxLinear has a 52 week low of $8.35 and a 52 week high of $25.73. The company has a market cap of $1.42 billion, a P/E ratio of -6.78 and a beta of 1.72. The business has a 50 day moving average of $13.49 and a 200 day moving average of $14.00. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.55 and a quick ratio of 1.14.

MaxLinear (NASDAQ:MXL - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The semiconductor company reported $0.02 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.02. MaxLinear had a negative net margin of 55.53% and a negative return on equity of 18.16%. The company had revenue of $108.81 million during the quarter, compared to the consensus estimate of $104.94 million. During the same period in the prior year, the firm earned ($0.25) earnings per share. MaxLinear's revenue was up 18.3% on a year-over-year basis. As a group, sell-side analysts forecast that MaxLinear will post -0.37 earnings per share for the current fiscal year.

Insider Activity at MaxLinear

In other news, Director Ted L. Tewksbury III sold 6,071 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $10.40, for a total transaction of $63,138.40. Following the sale, the director owned 74,995 shares in the company, valued at $779,948. This represents a 7.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 7.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MaxLinear

A number of institutional investors have recently made changes to their positions in MXL. Allianz Asset Management GmbH bought a new position in MaxLinear during the second quarter valued at approximately $2,201,000. CWM LLC lifted its position in MaxLinear by 78.8% during the second quarter. CWM LLC now owns 17,972 shares of the semiconductor company's stock valued at $255,000 after purchasing an additional 7,922 shares during the period. Apollon Wealth Management LLC bought a new position in MaxLinear during the second quarter valued at approximately $142,000. Tectonic Advisors LLC bought a new position in MaxLinear during the second quarter valued at approximately $1,188,000. Finally, Maryland State Retirement & Pension System lifted its position in MaxLinear by 3.0% during the second quarter. Maryland State Retirement & Pension System now owns 23,099 shares of the semiconductor company's stock valued at $328,000 after purchasing an additional 680 shares during the period. Hedge funds and other institutional investors own 90.79% of the company's stock.

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.