Wells Fargo & Company Initiates Coverage on MaxLinear (NASDAQ:MXL)

Analysts at Wells Fargo & Company started coverage on shares of MaxLinear (NASDAQ:MXL) in a research report issued on Friday,Briefing.com Automated Import reports. The firm set an “equal weight” rating and a $14.00 price target on the semiconductor company’s stock. Wells Fargo & Company‘s target price suggests a potential downside of 11.05% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Benchmark reissued a “buy” rating and set a $22.00 target price on shares of MaxLinear in a research report on Thursday, October 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a report on Thursday, October 24th. Northland Securities lowered their price target on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Craig Hallum lowered their price target on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Finally, Susquehanna cut shares of MaxLinear from a “positive” rating to a “neutral” rating and lowered their price target for the stock from $26.00 to $15.00 in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $22.29.

MaxLinear Price Performance

MXL stock opened at $15.74 on Friday. MaxLinear has a 52-week low of $11.08 and a 52-week high of $26.59. The business has a 50-day simple moving average of $14.34 and a two-hundred day simple moving average of $16.30. 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 company has a market capitalization of $1.33 billion, a P/E ratio of -5.79 and a beta of 1.85.

MaxLinear (NASDAQ:MXL) last posted its 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 firm had revenue of $81.10 million for the quarter, compared to the consensus estimate of $80.40 million. During the same period in the prior year, the business earned ($0.02) EPS. MaxLinear’s quarterly revenue was down 40.2% compared to the same quarter last year. Research analysts expect that MaxLinear will post -1.66 EPS for the current fiscal year.

Insider Buying and Selling at MaxLinear

In other news, VP William Torgerson sold 6,100 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $15.40, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Innealta Capital LLC purchased a new position in shares of MaxLinear during the 2nd quarter valued at $30,000. International Assets Investment Management LLC purchased a new position in MaxLinear in the second quarter worth $31,000. Canada Pension Plan Investment Board purchased a new position in MaxLinear in the second quarter worth $56,000. Truvestments Capital LLC purchased a new position in MaxLinear in the third quarter worth $42,000. Finally, EntryPoint Capital LLC purchased a new position in MaxLinear in the first quarter worth $59,000. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

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.