MaxLinear (NASDAQ:MXL) Price Target Raised to $18.00 at Wells Fargo & Company

MaxLinear (NASDAQ:MXL - Get Free Report) had its target price boosted by analysts at Wells Fargo & Company from $13.00 to $18.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the semiconductor company's stock. Wells Fargo & Company's target price would suggest a potential upside of 4.85% from the company's current price.

Several other analysts also recently weighed in on MXL. Stifel Nicolaus lifted their price objective on shares of MaxLinear from $16.00 to $18.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Roth Capital set a $11.00 price target on shares of MaxLinear and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Loop Capital lowered their price objective on shares of MaxLinear from $18.00 to $10.00 and set a "hold" rating on the stock in a research note on Tuesday, April 29th. Benchmark lifted their price objective on shares of MaxLinear from $20.00 to $25.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Susquehanna lifted their price objective on shares of MaxLinear from $11.00 to $15.00 and gave the stock a "neutral" rating in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $18.69.

MaxLinear Price Performance

MXL traded up $1.85 on Thursday, hitting $17.17. 7,074,661 shares of the company were exchanged, compared to its average volume of 1,578,826. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 1.63. The business's fifty day moving average is $13.32 and its 200 day moving average is $14.13. MaxLinear has a fifty-two week low of $8.35 and a fifty-two week high of $25.73. The firm has a market capitalization of $1.45 billion, a P/E ratio of -6.56 and a beta of 1.72.

MaxLinear (NASDAQ:MXL - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The semiconductor company reported $0.02 EPS for the quarter, meeting analysts' consensus estimates of $0.02. The business had revenue of $108.81 million for the quarter, compared to the consensus estimate of $104.94 million. MaxLinear had a negative net margin of 61.63% and a negative return on equity of 21.86%. The business's revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.25) EPS. As a group, sell-side analysts anticipate that MaxLinear will post -0.37 EPS for the current year.

Insider Activity

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MXL. The Manufacturers Life Insurance Company lifted its position in MaxLinear by 48.2% in the first quarter. The Manufacturers Life Insurance Company now owns 2,260,392 shares of the semiconductor company's stock valued at $24,548,000 after purchasing an additional 734,973 shares during the last quarter. Invesco Ltd. grew its stake in MaxLinear by 414.8% in the first quarter. Invesco Ltd. now owns 1,684,247 shares of the semiconductor company's stock worth $18,291,000 after purchasing an additional 1,357,093 shares during the period. The Manufacturers Life Insurance Company grew its stake in MaxLinear by 3,698.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,525,419 shares of the semiconductor company's stock worth $30,173,000 after purchasing an additional 1,485,256 shares during the period. Point72 Hong Kong Ltd bought a new position in MaxLinear in the 4th quarter valued at approximately $25,659,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in MaxLinear in the 4th quarter worth about $25,027,000. 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.

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