MaxLinear (NYSE:MXL) Earns Buy Rating from Benchmark

MaxLinear (NYSE:MXL)‘s stock had its “buy” rating reiterated by 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 price target points to a potential upside of 47.95% from the company’s current price.

Other analysts also recently issued research reports about the stock. Susquehanna downgraded shares of MaxLinear from a “positive” rating to a “neutral” rating and decreased their price objective for the stock from $26.00 to $15.00 in a report on Tuesday, October 1st. Stifel Nicolaus raised their price target on shares of MaxLinear from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Craig Hallum dropped their price objective on MaxLinear from $38.00 to $28.00 and set a “hold” rating on the stock in a research note on Thursday, July 25th. Northland Securities decreased their target price on MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Finally, Needham & Company LLC downgraded MaxLinear from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, MaxLinear currently has a consensus rating of “Hold” and a consensus target price of $23.50.

MaxLinear Stock Up 2.6 %

MXL opened at $14.87 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.09 and a quick ratio of 1.59. The company’s 50-day moving average is $13.77 and its 200 day moving average is $17.19. MaxLinear has a fifty-two week low of $11.08 and a fifty-two week high of $26.59. The firm has a market capitalization of $1.24 billion, a P/E ratio of -7.87 and a beta of 1.83.

MaxLinear (NYSE:MXL) last released its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.06). MaxLinear had a negative net margin of 42.38% and a negative return on equity of 12.39%. The firm had revenue of $92.00 million for the quarter, compared to the consensus estimate of $100.25 million. During the same period in the previous year, the business earned $0.19 earnings per share. The firm’s revenue for the quarter was down 50.0% on a year-over-year basis. Research analysts expect that MaxLinear will post -1.74 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Kishore Seendripu purchased 108,303 shares of MaxLinear stock in a transaction dated Tuesday, July 30th. The stock was bought at an average cost of $12.94 per share, for a total transaction of $1,401,440.82. Following the completion of the transaction, the chief executive officer now owns 531,937 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. 8.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On MaxLinear

Several hedge funds have recently made changes to their positions in the stock. Simplicity Wealth LLC grew its position in shares of MaxLinear by 3.1% in the second quarter. Simplicity Wealth LLC now owns 19,283 shares of the semiconductor company’s stock valued at $388,000 after purchasing an additional 579 shares in the last quarter. ProShare Advisors LLC grew its position in 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 buying an additional 1,061 shares in the last quarter. Louisiana State Employees Retirement System grew its position in 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 buying an additional 1,100 shares in the last quarter. Swiss National Bank grew its position in MaxLinear by 0.9% during the first quarter. Swiss National Bank now owns 152,973 shares of the semiconductor company’s stock worth $2,856,000 after buying an additional 1,300 shares in the last quarter. Finally, Texas Permanent School Fund Corp grew its position in MaxLinear by 2.2% during the first quarter. Texas Permanent School Fund Corp now owns 65,248 shares of the semiconductor company’s stock worth $1,218,000 after buying an additional 1,375 shares in the last quarter. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

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.