MaxLinear (NASDAQ:MXL) Receives “Buy” Rating from Benchmark

MaxLinear (NASDAQ:MXL)‘s stock had its “buy” rating restated by investment analysts at Benchmark in a note issued to investors on Thursday, Benzinga reports. They currently have a $22.00 price objective on the semiconductor company’s stock. Benchmark’s target price points to a potential upside of 48.15% from the company’s previous close.

A number of other equities analysts have also recently weighed in on MXL. Craig Hallum lowered their price objective on shares of MaxLinear from $38.00 to $28.00 and set a “hold” rating for the company in a research report on Thursday, July 25th. Stifel Nicolaus boosted their price objective on MaxLinear from $26.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Northland Securities lowered their target price on MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Susquehanna lowered shares of MaxLinear from a “positive” rating to a “neutral” rating and cut their price target for the stock from $26.00 to $15.00 in a research note on Tuesday, October 1st. Finally, Needham & Company LLC lowered shares of MaxLinear from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $23.13.

MaxLinear Trading Down 1.6 %

Shares of MaxLinear stock opened at $14.85 on Thursday. The company has a current ratio of 2.09, a quick ratio of 1.59 and a debt-to-equity ratio of 0.20. MaxLinear has a twelve month low of $11.08 and a twelve month high of $26.59. The firm has a market capitalization of $1.25 billion, a PE ratio of -6.43 and a beta of 1.83. The firm’s 50-day moving average price is $13.87 and its 200 day moving average price is $17.11.

MaxLinear (NASDAQ:MXL) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). MaxLinear had a negative net margin of 42.38% and a negative return on equity of 12.39%. The business had revenue of $81.10 million during the quarter, compared to analyst estimates of $80.40 million. During the same quarter last year, the company earned ($0.02) earnings per share. MaxLinear’s quarterly revenue was down 40.2% on a year-over-year basis. On average, sell-side analysts predict that MaxLinear will post -1.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Kishore Seendripu acquired 108,303 shares of MaxLinear stock in a transaction dated Tuesday, July 30th. The shares were acquired at an average cost of $12.94 per share, for a total transaction of $1,401,440.82. Following the acquisition, the chief executive officer now owns 531,937 shares of the company’s stock, valued at $6,883,264.78. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MaxLinear

Several hedge funds and other institutional investors have recently made changes to their positions in MXL. Simplicity Wealth LLC raised its stake in MaxLinear by 3.1% during the 2nd quarter. Simplicity Wealth LLC now owns 19,283 shares of the semiconductor company’s stock worth $388,000 after acquiring an additional 579 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of MaxLinear by 7.4% during the first quarter. ProShare Advisors LLC now owns 15,304 shares of the semiconductor company’s stock worth $286,000 after purchasing an additional 1,061 shares during the last quarter. Louisiana State Employees Retirement System increased its position in shares of MaxLinear by 3.0% during the second quarter. Louisiana State Employees Retirement System now owns 38,000 shares of the semiconductor company’s stock worth $765,000 after purchasing an additional 1,100 shares in the last quarter. Swiss National Bank lifted its holdings in shares of MaxLinear by 0.9% in the 1st quarter. Swiss National Bank now owns 152,973 shares of the semiconductor company’s stock valued at $2,856,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of MaxLinear by 20.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 7,761 shares of the semiconductor company’s stock valued at $112,000 after purchasing an additional 1,308 shares during the period. Institutional investors and hedge funds own 90.79% of the company’s stock.

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.