MaxLinear’s (MXL) Buy Rating Reiterated at Benchmark

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

MXL has been the subject of a number of other reports. Wells Fargo & Company cut shares of MaxLinear from an overweight rating to an equal weight rating and reduced their target price for the company from $35.00 to $25.00 in a report on Wednesday, January 3rd. StockNews.com raised shares of MaxLinear from a sell rating to a hold rating in a research note on Thursday, February 29th. Northland Securities raised shares of MaxLinear from a market perform rating to an outperform rating and set a $30.00 price objective for the company in a research note on Thursday, April 4th. Finally, Needham & Company LLC reissued a buy rating and issued a $25.00 price objective on shares of MaxLinear in a research note on Thursday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $26.09.

MaxLinear Stock Down 0.4 %

Shares of MXL stock opened at $20.59 on Thursday. MaxLinear has a 12 month low of $13.43 and a 12 month high of $35.09. The stock has a market cap of $1.69 billion, a P/E ratio of -10.89 and a beta of 1.98. The company has a current ratio of 1.99, a quick ratio of 1.75 and a debt-to-equity ratio of 0.19. The company has a 50 day simple moving average of $19.92 and a two-hundred day simple moving average of $19.93.

MaxLinear (NYSE:MXL) last announced its earnings results on Wednesday, April 24th. The semiconductor company reported ($0.38) EPS for the quarter, beating 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 4.75%. The business had revenue of $95.27 million during the quarter, compared to analysts’ expectations of $94.99 million. On average, research analysts expect that MaxLinear will post -0.8 earnings per share for the current year.

Hedge Funds Weigh In On MaxLinear

Several institutional investors have recently bought and sold shares of the stock. Simplicity Wealth LLC purchased a new position in MaxLinear during the first quarter valued at $349,000. Assenagon Asset Management S.A. grew its stake in MaxLinear by 9.2% during the first quarter. Assenagon Asset Management S.A. now owns 346,873 shares of the semiconductor company’s stock valued at $6,476,000 after acquiring an additional 29,102 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new position in MaxLinear during the first quarter valued at $294,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in MaxLinear by 291.5% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 120,873 shares of the semiconductor company’s stock valued at $2,873,000 after acquiring an additional 90,000 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in MaxLinear by 8.5% during the fourth quarter. Vanguard Group Inc. now owns 11,586,273 shares of the semiconductor company’s stock valued at $275,406,000 after acquiring an additional 903,235 shares in the last quarter. 90.79% of the stock is owned by hedge funds and other institutional investors.

MaxLinear Company Profile

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.