MaxLinear, Inc. (NYSE:MXL – Get Rating) shares rose 6.6% during mid-day trading on Wednesday . The company traded as high as $36.70 and last traded at $36.70. Approximately 13,624 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 574,452 shares. The stock had previously closed at $34.44.
Analysts Set New Price Targets
MXL has been the topic of a number of research reports. Wells Fargo & Company dropped their price objective on shares of MaxLinear from $66.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday, July 11th. Northland Securities dropped their price objective on shares of MaxLinear from $50.00 to $45.00 in a report on Thursday, July 28th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of MaxLinear from $45.00 to $50.00 in a report on Thursday, July 28th. StockNews.com downgraded shares of MaxLinear from a “strong-buy” rating to a “buy” rating in a report on Monday, September 12th. Finally, Susquehanna dropped their price objective on shares of MaxLinear from $60.00 to $55.00 in a report on Thursday, July 28th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $63.33.
MaxLinear Stock Performance
The stock has a market cap of $2.60 billion, a P/E ratio of 11.63, a PEG ratio of 0.53 and a beta of 1.99. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.70 and a quick ratio of 1.24. The firm’s 50-day moving average price is $38.13 and its 200-day moving average price is $42.15.
Institutional Investors Weigh In On MaxLinear
Large investors have recently bought and sold shares of the business. Cornerstone Advisory LLC bought a new stake in MaxLinear in the fourth quarter worth $44,000. FinTrust Capital Advisors LLC bought a new stake in MaxLinear in the second quarter worth $27,000. Archer Investment Corp bought a new position in MaxLinear during the first quarter valued at $50,000. Meeder Asset Management Inc. bought a new position in MaxLinear during the first quarter valued at $61,000. Finally, Okabena Investment Services Inc. bought a new position in MaxLinear during the fourth quarter valued at $163,000. Institutional investors own 90.26% of the company’s stock.
MaxLinear, Inc provides radiofrequency (RF), high-performance analog, and mixed-signal communications systems-on-chip solutions (SoCs) for the connected home, wired and wireless infrastructure, and industrial and multi-market applications worldwide. Its products integrate various portions of a high-speed communication system, including RF, high-performance analog, mixed-signal, digital signal processing, security engines, data compression, networking layers, and power management.
- Get a free copy of the StockNews.com research report on MaxLinear (MXL)
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