Analysts Set MaxLinear, Inc. (NYSE:MXL) Price Target at $24.67

Shares of MaxLinear, Inc. (NYSE:MXL) have earned a consensus recommendation of “Hold” from the ten analysts that are presently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $24.67.

A number of research analysts have issued reports on MXL shares. Northland Securities lowered their price objective on MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Craig Hallum cut their price objective on shares of MaxLinear from $38.00 to $28.00 and set a “hold” rating on the stock in a research report on Thursday, July 25th. Stifel Nicolaus lifted their target price on shares of MaxLinear from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Susquehanna cut their price target on shares of MaxLinear from $30.00 to $26.00 and set a “positive” rating on the stock in a report on Thursday, July 25th. Finally, Benchmark reduced their price target on shares of MaxLinear from $28.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, July 25th.

Insiders Place Their Bets

In other news, CEO Kishore Seendripu purchased 108,303 shares of the stock in a transaction dated Tuesday, July 30th. The shares were purchased at an average cost of $12.94 per share, with a total value of $1,401,440.82. Following the acquisition, the chief executive officer now directly owns 531,937 shares of the company’s stock, valued at $6,883,264.78. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MaxLinear

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in MaxLinear by 5.8% during the first quarter. Vanguard Group Inc. now owns 12,253,823 shares of the semiconductor company’s stock valued at $228,779,000 after buying an additional 667,550 shares during the period. Bank of New York Mellon Corp grew its position in shares of MaxLinear by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,535,449 shares of the semiconductor company’s stock valued at $51,064,000 after acquiring an additional 128,585 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of MaxLinear by 10.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,071,183 shares of the semiconductor company’s stock worth $41,714,000 after purchasing an additional 192,021 shares in the last quarter. Hood River Capital Management LLC bought a new position in MaxLinear in the 2nd quarter worth $24,184,000. Finally, Millennium Management LLC lifted its position in MaxLinear by 307.9% during the second 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 in the last quarter. 90.79% of the stock is currently owned by institutional investors.

MaxLinear Stock Down 6.7 %

NYSE:MXL opened at $13.13 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.09 and a quick ratio of 1.59. The firm’s 50-day moving average price is $16.46 and its 200-day moving average price is $18.40. The company has a market capitalization of $1.09 billion, a PE ratio of -6.95 and a beta of 1.85. MaxLinear has a 1-year low of $11.08 and a 1-year high of $26.59.

MaxLinear (NYSE:MXL) last announced its earnings results on Wednesday, July 24th. The semiconductor company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.06). MaxLinear had a negative net margin of 42.38% and a negative return on equity of 12.39%. The business had revenue of $92.00 million for the quarter, compared to the consensus estimate of $100.25 million. During the same period in the prior year, the business posted $0.19 EPS. MaxLinear’s revenue for the quarter was down 50.0% on a year-over-year basis. On average, equities analysts predict that MaxLinear will post -1.6 EPS for the current fiscal year.

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.