Benchmark Raises MaxLinear (NASDAQ:MXL) Price Target to $25.00

MaxLinear (NASDAQ:MXL) had its price target increased by Benchmark from $20.00 to $25.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Benchmark’s target price would suggest a potential upside of 52.81% from the company’s previous close.

Several other analysts have also commented on MXL. Wells Fargo & Company increased their target price on shares of MaxLinear from $12.00 to $13.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 16th. Loop Capital cut their target price on shares of MaxLinear from $18.00 to $10.00 and set a “hold” rating for the company in a research note on Tuesday, April 29th. Roth Capital set a $11.00 target price on shares of MaxLinear and gave the company a “neutral” rating in a research note on Thursday, April 24th. Susquehanna increased their target price on shares of MaxLinear from $11.00 to $15.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Stifel Nicolaus increased their target price on shares of MaxLinear from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.69.

MaxLinear Price Performance

MXL opened at $16.36 on Thursday. MaxLinear has a fifty-two week low of $8.35 and a fifty-two week high of $25.73. The company has a quick ratio of 1.19, a current ratio of 1.55 and a debt-to-equity ratio of 0.25. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of -6.62 and a beta of 1.72. The company’s 50-day moving average price is $13.49 and its 200 day moving average price is $14.09.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings data on Wednesday, July 23rd. The semiconductor company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. The business had revenue of $108.81 million during the quarter, compared to analysts’ expectations of $104.94 million. MaxLinear had a negative net margin of 55.53% and a negative return on equity of 18.16%. The business’s revenue was up 18.3% on a year-over-year basis. During the same period last year, the firm posted ($0.25) earnings per share. As a group, sell-side analysts expect that MaxLinear will post -0.37 earnings per share for the current year.

Insider Activity at MaxLinear

In related news, Director Ted L. Tewksbury III sold 6,071 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $10.40, for a total value of $63,138.40. Following the completion of the sale, the director owned 74,995 shares in the company, valued at approximately $779,948. This represents a 7.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On MaxLinear

Hedge funds have recently made changes to their positions in the company. Aster Capital Management DIFC Ltd purchased a new stake in shares of MaxLinear in the 4th quarter valued at approximately $34,000. Farther Finance Advisors LLC purchased a new stake in shares of MaxLinear in the 2nd quarter valued at approximately $44,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of MaxLinear in the 1st quarter valued at approximately $49,000. GAMMA Investing LLC lifted its position in MaxLinear by 36.6% in the 2nd quarter. GAMMA Investing LLC now owns 5,143 shares of the semiconductor company’s stock worth $73,000 after buying an additional 1,378 shares in the last quarter. Finally, Strs Ohio purchased a new stake in MaxLinear in the 1st quarter worth approximately $63,000. 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.