Susquehanna Increases MaxLinear (NASDAQ:MXL) Price Target to $25.00

by · The Markets Daily

MaxLinear (NASDAQ:MXL – Get Free Report) had its target price lifted by equities research analysts at Susquehanna from $20.00 to $25.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the semiconductor company’s stock. Susquehanna’s price target suggests a potential upside of 1.98% from the company’s current price.

Several other analysts have also weighed in on the company. Benchmark increased their price target on MaxLinear from $22.00 to $28.00 and gave the company a “buy” rating in a report on Monday, December 9th. Craig Hallum lowered their target price on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a research report on Thursday, October 24th. Wells Fargo & Company raised their price objective on shares of MaxLinear from $14.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Finally, Northland Securities increased their price target on MaxLinear from $25.00 to $27.50 and gave the stock an “outperform” rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, MaxLinear presently has an average rating of “Hold” and a consensus price target of $25.64.

Read Our Latest Analysis on MXL

MaxLinear Price Performance

MXL stock traded down $0.41 during trading on Wednesday, hitting $24.52. 686,821 shares of the company’s stock traded hands, compared to its average volume of 1,433,893. The business has a fifty day simple moving average of $18.68 and a 200 day simple moving average of $16.38. MaxLinear has a 52 week low of $11.08 and a 52 week high of $26.59. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.95. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of -9.01 and a beta of 1.79.

MaxLinear (NASDAQ:MXL – Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.04). MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%. The company had revenue of $81.10 million during the quarter, compared to analysts’ expectations of $80.40 million. During the same quarter in the prior year, the business posted ($0.02) EPS. The company’s revenue was down 40.2% on a year-over-year basis. As a group, research analysts expect that MaxLinear will post -1.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ted L. Tewksbury III sold 5,800 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $15.36, for a total value of $89,088.00. Following the sale, the director now directly owns 69,717 shares in the company, valued at approximately $1,070,853.12. This trade represents a 7.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP William Torgerson sold 6,100 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $15.40, for a total transaction of $93,940.00. Following the transaction, the vice president now owns 179,262 shares of the company’s stock, valued at approximately $2,760,634.80. This trade represents 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 in the last ninety days. 8.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On MaxLinear

Institutional investors and hedge funds have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of MaxLinear by 5,114.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 126,863 shares of the semiconductor company’s stock worth $1,837,000 after purchasing an additional 124,430 shares in the last quarter. Quantbot Technologies LP boosted its holdings in MaxLinear by 111.7% in the third quarter. Quantbot Technologies LP now owns 66,363 shares of the semiconductor company’s stock worth $961,000 after acquiring an additional 35,018 shares in the last quarter. Two Sigma Advisers LP grew its stake in shares of MaxLinear by 21.8% during the third quarter. Two Sigma Advisers LP now owns 694,149 shares of the semiconductor company’s stock worth $10,051,000 after acquiring an additional 124,300 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of MaxLinear by 339.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,250,769 shares of the semiconductor company’s stock worth $24,740,000 after acquiring an additional 966,468 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in shares of MaxLinear during the third quarter worth about $16,696,000. 90.79% of the stock is owned by hedge funds and other institutional investors.

About MaxLinear

(Get Free Report)

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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