MaxLinear (NYSE:MXL) Raised to “Buy” at Craig Hallum

MaxLinear (NYSE:MXL) was upgraded by equities researchers at Craig Hallum from a “hold” rating to a “buy” rating in a research report issued on Wednesday, MarketBeat.com reports. The brokerage currently has a $38.00 price target on the semiconductor company’s stock, up from their prior price target of $20.00. Craig Hallum’s price target would suggest a potential upside of 55.48% from the company’s current price.

Several other equities research analysts have also recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $25.00 target price on shares of MaxLinear in a research report on Thursday, April 25th. Northland Securities raised shares of MaxLinear from a “market perform” rating to an “outperform” rating and set a $30.00 price target on the stock in a research note on Thursday, April 4th. Benchmark reaffirmed a “buy” rating and issued a $28.00 price target on shares of MaxLinear in a report on Tuesday, July 9th. Finally, StockNews.com lowered MaxLinear from a “hold” rating to a “sell” rating in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, MaxLinear currently has an average rating of “Hold” and an average target price of $27.20.

MaxLinear Trading Down 3.7 %

Shares of MaxLinear stock opened at $24.44 on Wednesday. The company has a 50-day moving average of $19.77 and a two-hundred day moving average of $20.11. The company has a current ratio of 1.99, a quick ratio of 1.56 and a debt-to-equity ratio of 0.19. The stock has a market cap of $2.03 billion, a PE ratio of -12.93 and a beta of 1.84. MaxLinear has a 12-month low of $13.43 and a 12-month high of $35.09.

MaxLinear (NYSE:MXL) last posted its earnings results on Wednesday, April 24th. The semiconductor company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $94.99 million. On average, research analysts anticipate that MaxLinear will post -1.25 EPS for the current fiscal year.

Institutional Investors Weigh In On MaxLinear

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of MaxLinear by 12.6% in the third quarter. Vanguard Group Inc. now owns 10,683,038 shares of the semiconductor company’s stock valued at $237,698,000 after buying an additional 1,199,257 shares during the period. SG Americas Securities LLC boosted its position in shares of MaxLinear by 16.5% in the 4th quarter. SG Americas Securities LLC now owns 39,406 shares of the semiconductor company’s stock valued at $937,000 after purchasing an additional 5,569 shares during the period. Assenagon Asset Management S.A. purchased a new position in MaxLinear in the 4th quarter worth about $7,553,000. International Assets Investment Management LLC boosted its stake in MaxLinear by 2,277.0% in the 4th quarter. International Assets Investment Management LLC now owns 37,153 shares of the semiconductor company’s stock worth $883,000 after purchasing an additional 35,590 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in MaxLinear by 10.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,132 shares of the semiconductor company’s stock worth $835,000 after acquiring an additional 3,278 shares in the last quarter. 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.