MaxLinear (NYSE:MXL) Earns Buy Rating from Benchmark

MaxLinear (NYSE:MXL)‘s stock had its “buy” rating reissued by stock analysts at Benchmark in a research note issued on Thursday, Benzinga reports. They presently have a $28.00 target price on the semiconductor company’s stock. Benchmark’s price target points to a potential upside of 34.16% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. StockNews.com raised shares of MaxLinear from a “sell” rating to a “hold” rating in a report on Thursday, February 29th. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 price target on shares of MaxLinear in a research note on Thursday. Wells Fargo & Company lowered shares of MaxLinear from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $35.00 to $25.00 in a research note on Wednesday, January 3rd. Finally, Northland Securities upgraded shares of MaxLinear from a “market perform” rating to an “outperform” rating and set a $30.00 price target on the stock in a research note on Thursday, April 4th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, MaxLinear currently has a consensus rating of “Hold” and an average price target of $26.09.

MaxLinear Trading Down 0.3 %

NYSE MXL traded down $0.06 during trading hours on Thursday, reaching $20.87. The company had a trading volume of 503,846 shares, compared to its average volume of 761,352. The stock has a 50-day moving average of $19.89 and a 200 day moving average of $19.95. MaxLinear has a 1-year low of $13.43 and a 1-year high of $35.09. The company has a current ratio of 2.20, a quick ratio of 1.75 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $1.71 billion, a P/E ratio of -23.45 and a beta of 1.98.

MaxLinear (NYSE:MXL) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.02. The business had revenue of $95.27 million for the quarter, compared to analysts’ expectations of $94.99 million. MaxLinear had a negative net margin of 10.55% and a positive return on equity of 4.77%. As a group, research analysts anticipate that MaxLinear will post -0.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MaxLinear

Hedge funds and other institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC lifted its holdings in MaxLinear by 354.9% in the third quarter. Acadian Asset Management LLC now owns 39,519 shares of the semiconductor company’s stock valued at $876,000 after acquiring an additional 30,832 shares during the period. Jacobs Levy Equity Management Inc. increased its position in MaxLinear by 423.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 657,157 shares of the semiconductor company’s stock worth $14,622,000 after purchasing an additional 531,529 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in MaxLinear by 5.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 632,251 shares of the semiconductor company’s stock worth $14,068,000 after purchasing an additional 31,589 shares in the last quarter. GSA Capital Partners LLP grew its holdings in MaxLinear by 180.9% in the 3rd quarter. GSA Capital Partners LLP now owns 82,324 shares of the semiconductor company’s stock valued at $1,832,000 after buying an additional 53,013 shares during the period. Finally, Hsbc Holdings PLC grew its holdings in MaxLinear by 111.2% in the 3rd quarter. Hsbc Holdings PLC now owns 113,497 shares of the semiconductor company’s stock valued at $2,534,000 after buying an additional 59,760 shares during the period. Institutional investors and hedge funds own 90.79% of the company’s stock.

About MaxLinear

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.