Susquehanna Raises MaxLinear (NYSE:MXL) Price Target to $30.00

MaxLinear (NYSE:MXL) had its price target increased by Susquehanna from $25.00 to $30.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has a positive rating on the semiconductor company’s stock.

Other equities research analysts have also recently issued research reports about the stock. StockNews.com cut shares of MaxLinear from a hold rating to a sell rating in a research report on Thursday, April 25th. Needham & Company LLC reiterated a buy rating and set a $25.00 target price on shares of MaxLinear in a research report on Thursday, April 25th. Northland Securities upgraded shares of MaxLinear from a market perform rating to an outperform rating and set a $30.00 target price for the company in a research report on Thursday, April 4th. Craig Hallum upgraded shares of MaxLinear from a hold rating to a buy rating and raised their price objective for the company from $20.00 to $38.00 in a research report on Wednesday. Finally, Benchmark restated a buy rating and issued a $28.00 price objective on shares of MaxLinear in a research report on Tuesday, July 9th. One investment 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. According to MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $27.20.

MaxLinear Stock Performance

Shares of MXL stock opened at $23.93 on Wednesday. MaxLinear has a 52-week low of $13.43 and a 52-week high of $35.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.56 and a current ratio of 1.99. The firm has a fifty day moving average of $19.88 and a 200-day moving average of $20.11.

MaxLinear (NYSE:MXL) last announced its earnings results on Wednesday, April 24th. The semiconductor company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.02. The business had revenue of $95.27 million during the quarter, compared to analysts’ expectations of $94.99 million. MaxLinear had a negative net margin of 28.70% and a negative return on equity of 4.75%. On average, equities research analysts forecast that MaxLinear will post -1.25 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MXL. Vanguard Group Inc. boosted its stake in shares of MaxLinear by 12.6% in the 3rd quarter. Vanguard Group Inc. now owns 10,683,038 shares of the semiconductor company’s stock valued at $237,698,000 after purchasing an additional 1,199,257 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of MaxLinear in the 4th quarter valued at about $7,553,000. Comerica Bank boosted its stake in shares of MaxLinear by 472.6% in the 1st quarter. Comerica Bank now owns 194,405 shares of the semiconductor company’s stock valued at $3,630,000 after purchasing an additional 160,456 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of MaxLinear by 2,412.2% in the 4th quarter. Federated Hermes Inc. now owns 162,916 shares of the semiconductor company’s stock valued at $3,873,000 after purchasing an additional 156,431 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of MaxLinear by 7.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,912,731 shares of the semiconductor company’s stock valued at $45,469,000 after purchasing an additional 137,698 shares during the last quarter. Institutional investors 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.