Benchmark Raises MaxLinear (NYSE:MXL) Price Target to $28.00

MaxLinear (NYSE:MXL) had its price objective upped by Benchmark from $23.00 to $28.00 in a report issued on Monday morning, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Several other research firms also recently issued reports on MXL. Needham & Company LLC decreased their price objective on shares of MaxLinear from $28.00 to $25.00 and set a buy rating for the company in a research note on Thursday, February 1st. Wells Fargo & Company downgraded shares of MaxLinear from an overweight rating to an equal weight rating and decreased their price objective for the company from $35.00 to $25.00 in a research note on Wednesday, January 3rd. StockNews.com upgraded shares of MaxLinear from a sell rating to a hold rating in a research note on Thursday, February 29th. Finally, Northland Securities raised shares of MaxLinear from a market perform rating to an outperform rating and set a $30.00 target price for the company in a report on Thursday, April 4th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, MaxLinear presently has an average rating of Hold and an average target price of $26.09.

MaxLinear Stock Performance

Shares of MXL stock opened at $20.56 on Monday. The company has a current ratio of 2.20, a quick ratio of 1.75 and a debt-to-equity ratio of 0.18. The firm has a fifty day moving average price of $19.76 and a 200 day moving average price of $20.00. The company has a market cap of $1.68 billion, a P/E ratio of -23.10 and a beta of 1.98. MaxLinear has a 12 month low of $13.43 and a 12 month high of $35.09.

MaxLinear (NYSE:MXL) last issued its earnings results on Wednesday, January 31st. The semiconductor company reported ($0.17) EPS for the quarter, hitting analysts’ consensus estimates of ($0.17). The firm had revenue of $125.35 million during the quarter, compared to the consensus estimate of $125.06 million. MaxLinear had a negative net margin of 10.55% and a positive return on equity of 4.77%. Sell-side analysts predict that MaxLinear will post -0.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MaxLinear

A number of hedge funds and other institutional investors have recently modified their holdings of MXL. Advisors Asset Management Inc. increased its stake in shares of MaxLinear by 171.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,220 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 771 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of MaxLinear during the 3rd quarter worth approximately $35,000. CWM LLC increased its stake in shares of MaxLinear by 712.8% during the 3rd quarter. CWM LLC now owns 2,292 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 2,010 shares in the last quarter. 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 in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of MaxLinear during the 2nd quarter worth approximately $90,000. 90.79% of the stock is currently owned by institutional investors and hedge funds.

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.