MaxLinear (NASDAQ:MXL) Now Covered by Analysts at Benchmark

Investment analysts at Benchmark assumed coverage on shares of MaxLinear (NASDAQ:MXL) in a report released on Wednesday. The firm set a “buy” rating and a $125.00 price target on the semiconductor company’s stock. Benchmark’s price objective indicates a potential upside of 24.47% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Needham & Company LLC upgraded shares of MaxLinear from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a report on Friday, April 24th. Northland Securities set a $55.00 price target on shares of MaxLinear in a report on Friday, April 24th. Roth Mkm raised shares of MaxLinear from a “neutral” rating to a “buy” rating and set a $60.00 price objective on the stock in a research report on Friday, April 24th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $40.00 price objective on shares of MaxLinear in a research note on Friday, April 24th. Finally, Loop Capital upgraded shares of MaxLinear from a “hold” rating to a “buy” rating and raised their target price for the company from $17.00 to $75.00 in a research note on Wednesday, April 29th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, MaxLinear has a consensus rating of “Hold” and an average price target of $53.90.

MaxLinear Stock Up 4.5%

Shares of MXL stock traded up $4.30 on Wednesday, hitting $100.42. The stock had a trading volume of 817,553 shares, compared to its average volume of 2,761,582. MaxLinear has a one year low of $10.96 and a one year high of $106.28. The business has a 50 day moving average price of $47.73 and a 200 day moving average price of $28.09. The company has a market cap of $8.99 billion, a PE ratio of -65.92 and a beta of 3.95. The company has a quick ratio of 1.12, a current ratio of 1.70 and a debt-to-equity ratio of 0.27.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings data on Thursday, April 23rd. The semiconductor company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. The company had revenue of $137.19 million during the quarter, compared to the consensus estimate of $137.15 million. MaxLinear had a negative net margin of 25.96% and a negative return on equity of 2.33%. MaxLinear’s revenue for the quarter was up 43.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. Research analysts anticipate that MaxLinear will post 0.52 earnings per share for the current fiscal year.

Insider Activity at MaxLinear

In related news, insider Connie H. Kwong sold 35,000 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $96.96, for a total value of $3,393,600.00. Following the completion of the transaction, the insider owned 13,947 shares of the company’s stock, valued at approximately $1,352,301.12. This represents a 71.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Steven G. Litchfield sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $15.68, for a total value of $313,600.00. Following the transaction, the insider directly owned 343,435 shares of the company’s stock, valued at approximately $5,385,060.80. The trade was a 5.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 99,097 shares of company stock valued at $5,150,815. 7.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On MaxLinear

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of MaxLinear by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 13,326,387 shares of the semiconductor company’s stock worth $232,279,000 after acquiring an additional 605,903 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in MaxLinear by 27.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,889,111 shares of the semiconductor company’s stock valued at $41,054,000 after purchasing an additional 628,719 shares during the last quarter. Invesco Ltd. lifted its holdings in MaxLinear by 419.9% in the 4th quarter. Invesco Ltd. now owns 2,149,589 shares of the semiconductor company’s stock valued at $37,467,000 after purchasing an additional 1,736,141 shares in the last quarter. Geode Capital Management LLC boosted its stake in MaxLinear by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 2,038,144 shares of the semiconductor company’s stock worth $35,531,000 after purchasing an additional 28,548 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in MaxLinear by 31.8% during the 3rd quarter. Marshall Wace LLP now owns 1,826,259 shares of the semiconductor company’s stock worth $29,366,000 after purchasing an additional 441,088 shares during the last quarter. Hedge funds and other institutional investors own 90.79% of the company’s stock.

MaxLinear Company Profile

MaxLinear, Inc is a provider of radio-frequency (RF), analog, and mixed-signal integrated circuits for broadband communications, data center connectivity, and video infrastructure applications. The company’s product portfolio includes high-performance RF front-end modules, broadband power amplifiers, optical and Ethernet transceivers, and network processors designed to support demanding signal processing requirements.

MaxLinear’s semiconductor solutions are used by cable and satellite television operators, fiber-to-the-home service providers, network equipment manufacturers, and data center operators.