MaxLinear (NYSE:MXL) Rating Reiterated by Benchmark

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

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

MaxLinear Stock Performance

Shares of MaxLinear stock opened at $20.59 on Thursday. The business has a 50-day simple moving average of $19.92 and a 200 day simple moving average of $19.91. MaxLinear has a one year low of $13.43 and a one year high of $35.09. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.99 and a quick ratio of 1.75. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of -10.89 and a beta of 1.98.

MaxLinear (NYSE:MXL) last released its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.02. MaxLinear had a negative return on equity of 4.75% and a negative net margin of 28.70%. The firm had revenue of $95.27 million during the quarter, compared to the consensus estimate of $94.99 million. On average, research analysts anticipate that MaxLinear will post -0.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MaxLinear

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC raised its position in MaxLinear by 712.8% in the third quarter. CWM LLC now owns 2,292 shares of the semiconductor company’s stock worth $51,000 after acquiring an additional 2,010 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its stake 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 worth $90,000 after purchasing an additional 862 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of MaxLinear by 289.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,062 shares of the semiconductor company’s stock worth $97,000 after purchasing an additional 3,020 shares during the period. Nisa Investment Advisors LLC lifted its stake in MaxLinear by 8.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,310 shares of the semiconductor company’s stock valued at $150,000 after purchasing an additional 490 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in MaxLinear by 39.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,320 shares of the semiconductor company’s stock valued at $185,000 after purchasing an additional 2,355 shares during the last quarter. 90.79% of the stock is owned by hedge funds and other institutional investors.

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.