Needham analyst Quinn Bolton assigned a Buy rating to Maxlinear Inc (MXL) today and set a price target of $20. The company’s shares closed on Friday at $19.
Bolton wrote:
“In conjunction with our industry report published this morning entitled, “CES C1H19″, we are reducing forward revenue and NG EPS estimates for the majority of our semiconductor companies under coverage including MaxLinear. Highlights from our CES meeting appears below.”
According to TipRanks.com, Bolton is a 5-star analyst with an average return of 11.5% and a 61.9% success rate. Bolton covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings Inc, Sequans Communications S A, and Quantenna Communications.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Maxlinear Inc with a $19.50 average price target.
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Based on Maxlinear Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $13.94 million. In comparison, last year the company had a GAAP net loss of $19.45 million.
Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is negative on the stock. Most recently, in December 2018, Michael Lachance, the VP Operations of MXL sold 50,000 shares for a total of $1,037,485.
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MaxLinear, Inc. engages in the provision of radio frequency, high-performance analog, and mixed-signal communications systems-on-chip solutions for the connected home, wired and wireless infrastructure, and industrial and multi-market applications.
