MaxLinear’s (MXL) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of MaxLinear (NYSE:MXL) in a report published on Thursday, Benzinga reports. They currently have a $25.00 price target on the semiconductor company’s stock.

Other research analysts also recently issued reports about the company. Benchmark lifted their target price on MaxLinear from $23.00 to $28.00 and gave the company a buy rating in a research note on Monday, April 15th. Northland Securities upgraded shares of MaxLinear from a market perform rating to an outperform rating and set a $30.00 price objective on the stock in a research report on Thursday, April 4th. Wells Fargo & Company cut shares of MaxLinear from an overweight rating to an equal weight rating and reduced their target price for the stock from $35.00 to $25.00 in a research note on Wednesday, January 3rd. Finally, StockNews.com raised shares of MaxLinear from a sell rating to a hold rating in a report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, MaxLinear presently has a consensus rating of Hold and an average price target of $26.09.

MaxLinear Trading Down 1.2 %

NYSE MXL opened at $20.68 on Thursday. The firm’s fifty day moving average price is $19.90 and its 200 day moving average price is $19.95. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.20 and a quick ratio of 1.75. MaxLinear has a 12 month low of $13.43 and a 12 month high of $35.09. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of -10.94 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 for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.02. MaxLinear had a negative net margin of 28.70% and a negative return on equity of 4.63%. The firm had revenue of $95.27 million during the quarter, compared to analysts’ expectations of $94.99 million. On average, sell-side analysts expect that MaxLinear will post -0.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MaxLinear

Several institutional investors have recently modified their holdings of MXL. CWM LLC boosted its position in shares of MaxLinear by 712.8% in the 3rd quarter. CWM LLC now owns 2,292 shares of the semiconductor company’s stock worth $51,000 after buying an additional 2,010 shares in the last quarter. SG Americas Securities LLC increased its position in MaxLinear by 659.9% during the 3rd quarter. SG Americas Securities LLC now owns 33,837 shares of the semiconductor company’s stock worth $753,000 after purchasing an additional 29,384 shares in the last quarter. Simplicity Solutions LLC increased its position in MaxLinear by 523.2% during the 3rd quarter. Simplicity Solutions LLC now owns 42,735 shares of the semiconductor company’s stock worth $951,000 after purchasing an additional 35,878 shares in the last quarter. Robeco Institutional Asset Management B.V. acquired a new stake in MaxLinear during the 3rd quarter worth approximately $273,000. Finally, Migdal Insurance & Financial Holdings Ltd. grew its position in MaxLinear by 27.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 4,029 shares of the semiconductor company’s stock valued at $90,000 after acquiring an additional 862 shares in the last quarter. Hedge funds and other institutional investors 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.