MaxLinear’s (MXL) Buy Rating Reiterated at Benchmark

Benchmark reissued their buy rating on shares of MaxLinear (NASDAQ:MXL) in a research report report published on Thursday morning, Benzinga reports. Benchmark currently has a $22.00 target price on the semiconductor company’s stock.

Other equities analysts have also issued research reports about the stock. Northland Securities cut their price target on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Stifel Nicolaus lifted their target price on MaxLinear from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Needham & Company LLC cut MaxLinear from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Craig Hallum lowered their price objective on MaxLinear from $38.00 to $28.00 and set a “hold” rating for the company in a research report on Thursday, July 25th. Finally, Susquehanna cut MaxLinear from a “positive” rating to a “neutral” rating and reduced their target price for the company from $26.00 to $15.00 in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $23.86.

MaxLinear Price Performance

MaxLinear stock opened at $14.85 on Thursday. The stock has a fifty day moving average of $13.87 and a 200-day moving average of $17.03. The stock has a market capitalization of $1.25 billion, a P/E ratio of -6.43 and a beta of 1.83. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.59 and a current ratio of 2.09. MaxLinear has a 52 week low of $11.08 and a 52 week high of $26.59.

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

Insider Buying and Selling

In other news, CEO Kishore Seendripu purchased 108,303 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was bought at an average price of $12.94 per share, for a total transaction of $1,401,440.82. Following the purchase, the chief executive officer now owns 531,937 shares of the company’s stock, valued at $6,883,264.78. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 8.60% of the stock is currently owned by insiders.

Institutional Trading of MaxLinear

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC grew its holdings in MaxLinear by 20.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 7,761 shares of the semiconductor company’s stock valued at $112,000 after buying an additional 1,308 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of MaxLinear by 2.0% in the third quarter. Assenagon Asset Management S.A. now owns 284,301 shares of the semiconductor company’s stock valued at $4,117,000 after acquiring an additional 5,705 shares during the period. International Assets Investment Management LLC grew its stake in MaxLinear by 1,348.0% during the third quarter. International Assets Investment Management LLC now owns 22,632 shares of the semiconductor company’s stock valued at $328,000 after acquiring an additional 21,069 shares in the last quarter. Inspire Investing LLC increased its holdings in MaxLinear by 62.8% during the 3rd quarter. Inspire Investing LLC now owns 28,366 shares of the semiconductor company’s stock worth $411,000 after acquiring an additional 10,947 shares during the period. Finally, CWM LLC lifted its stake in MaxLinear by 321.3% in the 3rd quarter. CWM LLC now owns 5,793 shares of the semiconductor company’s stock worth $84,000 after purchasing an additional 4,418 shares in the last quarter. 90.79% of the stock is currently owned by 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.