MaxLinear (NASDAQ:MXL) Upgraded at Wall Street Zen

Key Points

• MaxLinear has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, reflecting a positive outlook from analysts.
• Multiple firms have adjusted their target prices for MXL, with Wells Fargo raising it to $18.00 and Benchmark increasing it to $25.00.
• Despite the upgrade, MaxLinear shares recently experienced a decline of 5.2%, highlighting some volatility in the stock's performance.

MaxLinear (NASDAQ:MXL - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

Other equities analysts also recently issued research reports about the company. Wells Fargo & Company upped their price objective on MaxLinear from $13.00 to $18.00 and gave the company an "equal weight" rating in a research note on Thursday, July 24th. Susquehanna upped their price target on shares of MaxLinear from $11.00 to $15.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Benchmark increased their target price on MaxLinear from $20.00 to $25.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Loop Capital reduced their target price on MaxLinear from $18.00 to $10.00 and set a "hold" rating on the stock in a research note on Tuesday, April 29th. Finally, Roth Capital set a $11.00 price objective on MaxLinear and gave the company a "neutral" rating in a research note on Thursday, April 24th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $18.69.

MaxLinear Price Performance

Shares of NASDAQ MXL traded up $0.57 during mid-day trading on Friday, hitting $17.31. 2,198,341 shares of the stock traded hands, compared to its average volume of 1,623,642. The company has a market cap of $1.46 billion, a PE ratio of -7.01 and a beta of 1.72. MaxLinear has a twelve month low of $8.35 and a twelve month high of $25.73. The firm has a 50 day simple moving average of $13.59 and a two-hundred day simple moving average of $13.97. 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 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. MaxLinear had a negative return on equity of 18.16% and a negative net margin of 55.53%. The business had revenue of $108.81 million during the quarter, compared to analyst estimates of $104.94 million. During the same period in the previous year, the company posted ($0.25) EPS. The firm's revenue was up 18.3% compared to the same quarter last year. As a group, equities research analysts forecast that MaxLinear will post -0.37 EPS for the current fiscal year.

Insider Buying and Selling at MaxLinear

In related 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 completion of the sale, the director owned 74,995 shares of the company's stock, valued at $779,948. This represents a 7.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 7.80% of the company's stock.

Institutional Trading of MaxLinear

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its position in MaxLinear by 1.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 60,406 shares of the semiconductor company's stock worth $1,195,000 after acquiring an additional 631 shares during the last quarter. Maryland State Retirement & Pension System increased its stake in MaxLinear by 3.0% during the 2nd quarter. Maryland State Retirement & Pension System now owns 23,099 shares of the semiconductor company's stock worth $328,000 after buying an additional 680 shares during the period. Blair William & Co. IL increased its stake in MaxLinear by 4.1% during the 1st quarter. Blair William & Co. IL now owns 22,756 shares of the semiconductor company's stock worth $247,000 after buying an additional 902 shares during the period. GAMMA Investing LLC grew its holdings in MaxLinear by 36.6% during the 2nd quarter. GAMMA Investing LLC now owns 5,143 shares of the semiconductor company's stock worth $73,000 after acquiring an additional 1,378 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its holdings in MaxLinear by 0.7% during the 1st quarter. Panagora Asset Management Inc. now owns 226,123 shares of the semiconductor company's stock worth $2,456,000 after acquiring an additional 1,635 shares in the last quarter. Institutional investors and hedge funds own 90.79% of the company's stock.

About MaxLinear

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.