MaxLinear (NYSE:MXL) Earns “Buy” Rating from Benchmark

Benchmark reiterated their buy rating on shares of MaxLinear (NYSE:MXL) in a research report sent to investors on Tuesday, Benzinga reports. Benchmark currently has a $28.00 price target on the semiconductor company’s stock.

Several other research firms also recently commented on MXL. Northland Securities upgraded shares of MaxLinear from a market perform rating to an outperform rating and set a $30.00 price objective for the company in a research note on Thursday, April 4th. StockNews.com cut shares of MaxLinear from a hold rating to a sell rating in a report on Thursday, April 25th. Finally, Needham & Company LLC reissued a buy rating and set a $25.00 target price on shares of MaxLinear in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $25.70.

MaxLinear Price Performance

Shares of MXL opened at $22.25 on Tuesday. The company has a market cap of $1.85 billion, a price-to-earnings ratio of -11.77 and a beta of 1.84. MaxLinear has a twelve month low of $13.43 and a twelve month high of $35.09. The company has a quick ratio of 1.56, a current ratio of 1.99 and a debt-to-equity ratio of 0.19. The company has a 50 day moving average of $19.34 and a two-hundred day moving average of $20.11.

MaxLinear (NYSE:MXL) last posted its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.02. MaxLinear had a negative net margin of 28.70% and a negative return on equity of 4.75%. The business had revenue of $95.27 million during the quarter, compared to the consensus estimate of $94.99 million. As a group, analysts predict that MaxLinear will post -1.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MXL. Vanguard Group Inc. increased its holdings in 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 in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in MaxLinear by 423.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 657,157 shares of the semiconductor company’s stock valued at $14,622,000 after buying an additional 531,529 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in MaxLinear in the fourth quarter valued at $7,553,000. Comerica Bank grew its position in shares of MaxLinear by 472.6% in the first 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 period. Finally, Federated Hermes Inc. grew its position in shares of MaxLinear by 2,412.2% in the fourth 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 period. Hedge funds and other 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.