MaxLinear’s (MXL) Buy Rating Reaffirmed at Benchmark

Benchmark reissued their buy rating on shares of MaxLinear (NYSE:MXL) in a report published on Thursday morning, Benzinga reports. Benchmark currently has a $28.00 price objective on the semiconductor company’s stock.

Other research analysts have also recently issued research reports about the company. Needham & Company LLC restated a buy rating and issued a $25.00 price target on shares of MaxLinear in a research report on Thursday. Wells Fargo & Company lowered MaxLinear from an overweight rating to an equal weight rating and decreased their price objective for the company from $35.00 to $25.00 in a research note on Wednesday, January 3rd. StockNews.com raised MaxLinear from a sell rating to a hold rating in a research note on Thursday, February 29th. Finally, Northland Securities raised 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, MaxLinear presently has an average rating of Hold and a consensus price target of $26.09.

MaxLinear Trading Down 1.2 %

Shares of MXL stock opened at $20.68 on Thursday. MaxLinear has a fifty-two week low of $13.43 and a fifty-two week high of $35.09. The stock has a market cap of $1.69 billion, a P/E ratio of -10.94 and a beta of 1.98. The business has a fifty day simple moving average of $19.90 and a 200-day simple moving average of $19.95. The company has a quick ratio of 1.75, a current ratio of 2.20 and a debt-to-equity ratio of 0.18.

MaxLinear (NYSE:MXL) last announced its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.02. MaxLinear had a negative return on equity of 4.63% and a negative net margin of 28.70%. The business had revenue of $95.27 million during the quarter, compared to analysts’ expectations of $94.99 million. On average, analysts forecast that MaxLinear will post -0.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MaxLinear

Hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC raised its holdings in shares of MaxLinear by 712.8% during the 3rd quarter. CWM LLC now owns 2,292 shares of the semiconductor company’s stock valued at $51,000 after buying an additional 2,010 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of MaxLinear by 27.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 4,029 shares of the semiconductor company’s stock valued at $90,000 after buying an additional 862 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of MaxLinear by 289.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,062 shares of the semiconductor company’s stock valued at $97,000 after buying an additional 3,020 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of MaxLinear by 8.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,310 shares of the semiconductor company’s stock valued at $150,000 after buying an additional 490 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of MaxLinear by 39.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,320 shares of the semiconductor company’s stock valued at $185,000 after buying an additional 2,355 shares during the period. 90.79% of the stock is owned by institutional investors and hedge funds.

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.