Wells Fargo & Company Issues Positive Forecast for MaxLinear (NASDAQ:MXL) Stock Price

MaxLinear (NASDAQ:MXL) had its price objective lifted by Wells Fargo & Company from $19.00 to $20.00 in a research 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 suggests a potential upside of 2.76% from the company’s current price.

MXL has been the topic of several other research reports. Northland Securities increased their target price on MaxLinear from $25.00 to $27.50 and gave the company an “outperform” rating in a research note on Monday, January 6th. Needham & Company LLC reiterated a “hold” rating on shares of MaxLinear in a research report on Thursday. Susquehanna boosted their price target on MaxLinear from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Benchmark increased their price objective on MaxLinear from $22.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Craig Hallum reduced their price target on MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $25.79.

MaxLinear Price Performance

Shares of MXL stock opened at $19.46 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.95 and a debt-to-equity ratio of 0.22. MaxLinear has a 12 month low of $11.08 and a 12 month high of $26.59. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -7.16 and a beta of 1.79. The stock has a 50-day moving average price of $19.77 and a 200 day moving average price of $16.43.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.14). MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. Research analysts expect that MaxLinear will post -1.66 EPS for the current year.

Insider Buying and Selling at MaxLinear

In other news, insider Steven G. Litchfield sold 32,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $20.35, for a total transaction of $651,200.00. Following the completion of the sale, the insider now owns 365,868 shares in the company, valued at $7,445,413.80. The trade was a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP William Torgerson sold 6,100 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $15.40, for a total value of $93,940.00. Following the completion of the transaction, the vice president now directly owns 179,262 shares in the company, valued at $2,760,634.80. The trade was a 3.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,900 shares of company stock worth $927,278 over the last 90 days. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On MaxLinear

Institutional investors have recently modified their holdings of the business. Sei Investments Co. increased its stake in MaxLinear by 40.5% during the 2nd quarter. Sei Investments Co. now owns 30,537 shares of the semiconductor company’s stock worth $615,000 after acquiring an additional 8,808 shares during the period. Bank of Montreal Can bought a new position in shares of MaxLinear in the second quarter worth $1,480,000. Marshall Wace LLP lifted its stake in MaxLinear by 58.4% during the second quarter. Marshall Wace LLP now owns 193,883 shares of the semiconductor company’s stock worth $3,905,000 after purchasing an additional 71,512 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of MaxLinear in the 2nd quarter valued at $870,000. Finally, Millennium Management LLC increased its stake in shares of MaxLinear by 307.9% in the 2nd quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company’s stock valued at $21,039,000 after purchasing an additional 788,558 shares during the last quarter. 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.