Blurbs

Wells Fargo Thinks Maxlinear’s Stock is Going to Recover

In a report released today, Gary Mobley from Wells Fargo maintained a Buy rating on Maxlinear (MXLResearch Report), with a price target of $50.00. The company’s shares closed last Monday at $33.70, close to its 52-week low of $30.17.

According to TipRanks.com, Mobley is a 5-star analyst with an average return of 12.0% and a 55.5% success rate. Mobley covers the Technology sector, focusing on stocks such as Silicon Laboratories, Allegro MicroSystems, and Skyworks Solutions.

Currently, the analyst consensus on Maxlinear is a Strong Buy with an average price target of $59.00, which is a 72.6% upside from current levels. In a report issued on July 5, Needham also maintained a Buy rating on the stock with a $53.00 price target.

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The company has a one-year high of $77.89 and a one-year low of $30.17. Currently, Maxlinear has an average volume of 985.8K.

Based on the recent corporate insider activity of 98 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MXL in relation to earlier this year. Most recently, in May 2022, Ted Tewksbury, a Director at MXL bought 3,582 shares for a total of $39,724.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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. Its products include cable broadband modems and gateways, wireline connectivity devices, radio frequency transceivers, fiber-optic modules, video set-top boxes and gateways, hybrid analog and digital televisions, direct broadcast satellite outdoor and indoor units, and power management and interface products. The company was founded by Kimihiko Imura, Curtis C. Ling and Kishore V. Seendripu on September 25, 2003 and is headquartered in Carlsbad, CA.

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