MaxLinear (NASDAQ:MXL) PT Set at $13.00 by Wells Fargo & Company

MaxLinear (NASDAQ:MXL - Get Free Report) received a $13.00 price target from stock analysts at Wells Fargo & Company in a report released on Wednesday, Marketbeat reports. The firm currently has an "equal weight" rating on the semiconductor company's stock. Wells Fargo & Company's price objective would suggest a potential downside of 10.84% from the company's previous close.

Other equities research analysts have also issued reports about the stock. Roth Capital set a $11.00 target price on shares of MaxLinear and gave the stock a "neutral" rating in a report on Thursday, April 24th. Stifel Nicolaus dropped their target price on shares of MaxLinear from $26.00 to $16.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. 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 report on Tuesday, April 29th. Finally, Benchmark reissued a "buy" rating and set a $20.00 price objective on shares of MaxLinear in a research report on Thursday, April 24th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $18.19.

MaxLinear Stock Performance

MaxLinear stock opened at $14.58 on Wednesday. The firm has a 50 day simple moving average of $12.96 and a 200-day simple moving average of $14.28. MaxLinear has a 1-year low of $8.35 and a 1-year high of $26.59. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.63 and a quick ratio of 1.19. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of -5.54 and a beta of 1.72.

MaxLinear (NASDAQ:MXL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported ($0.05) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.05). The firm had revenue of $95.93 million during the quarter, compared to analysts' expectations of $95.32 million. MaxLinear had a negative net margin of 61.63% and a negative return on equity of 21.86%. The firm's quarterly revenue was up .7% on a year-over-year basis. During the same quarter last year, the company posted ($0.21) EPS. On average, analysts expect that MaxLinear will post -0.37 EPS for the current year.

Insider Activity at MaxLinear

In related news, Director Ted L. Tewksbury III sold 6,071 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $10.40, for a total value of $63,138.40. Following the completion of the sale, the director owned 74,995 shares in the company, valued at $779,948. This trade represents a 7.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On MaxLinear

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its position in shares of MaxLinear by 1.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 60,406 shares of the semiconductor company's stock valued at $1,195,000 after buying an additional 631 shares during the last quarter. Blair William & Co. IL grew its stake in MaxLinear by 4.1% during the first 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 stake in MaxLinear by 36.6% during the second quarter. GAMMA Investing LLC now owns 5,143 shares of the semiconductor company's stock worth $73,000 after buying an additional 1,378 shares during the period. Panagora Asset Management Inc. grew its stake in MaxLinear by 0.7% during the first quarter. Panagora Asset Management Inc. now owns 226,123 shares of the semiconductor company's stock worth $2,456,000 after buying an additional 1,635 shares during the period. Finally, Aster Capital Management DIFC Ltd purchased a new stake in MaxLinear during the fourth quarter worth approximately $34,000. 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.