MaxLinear’s (MXL) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of MaxLinear (NYSE:MXL) in a research note released on Thursday morning, Benzinga reports. The firm currently has a $25.00 target price on the semiconductor company’s stock.

Several other analysts have also issued reports on the company. Wells Fargo & Company lowered MaxLinear from an overweight rating to an equal weight rating and cut their target price for the stock from $35.00 to $25.00 in a research note on Wednesday, January 3rd. Northland Securities raised 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. StockNews.com raised MaxLinear from a sell rating to a hold rating in a research note on Thursday, February 29th. Finally, Benchmark increased their price objective on MaxLinear from $23.00 to $28.00 and gave the company a buy rating in a research note on Monday, April 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, MaxLinear currently has an average rating of Hold and a consensus price target of $26.09.

MaxLinear Stock Down 0.4 %

Shares of NYSE MXL opened at $20.59 on Thursday. MaxLinear has a 12 month low of $13.43 and a 12 month high of $35.09. 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 firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of -10.89 and a beta of 1.98. The business has a 50-day moving average of $19.92 and a 200-day moving average of $19.91.

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

Institutional Investors Weigh In On MaxLinear

Institutional investors have recently modified their holdings of the stock. CWM LLC grew its stake in shares of 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 last quarter. Migdal Insurance & Financial Holdings Ltd. increased its holdings in MaxLinear by 27.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 4,029 shares of the semiconductor company’s stock worth $90,000 after buying an additional 862 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in 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 buying an additional 3,020 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in MaxLinear by 8.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,310 shares of the semiconductor company’s stock worth $150,000 after buying an additional 490 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in MaxLinear by 39.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,320 shares of the semiconductor company’s stock worth $185,000 after buying an additional 2,355 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.