Benchmark Raises MaxLinear (NYSE:MXL) Price Target to $28.00

MaxLinear (NYSE:MXL) had its price target increased by Benchmark from $23.00 to $28.00 in a research report released on Monday, Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Several other research analysts have also recently weighed in on MXL. StockNews.com raised shares of MaxLinear from a sell rating to a hold rating in a research report on Thursday, February 29th. Wells Fargo & Company cut shares of MaxLinear from an overweight rating to an equal weight rating and dropped their price target for the company from $35.00 to $25.00 in a research note on Wednesday, January 3rd. 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 report on Thursday, April 4th. Finally, Needham & Company LLC lowered their price objective on MaxLinear from $28.00 to $25.00 and set a buy rating for the company in a research report on Thursday, February 1st. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $26.09.

MaxLinear Trading Down 1.4 %

MXL opened at $20.27 on Monday. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of -22.78 and a beta of 1.98. The company’s 50 day simple moving average is $19.80 and its two-hundred day simple moving average is $20.00. MaxLinear has a 1-year low of $13.43 and a 1-year high of $35.09. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.20 and a quick ratio of 1.75.

MaxLinear (NYSE:MXL) last announced its quarterly earnings data on Wednesday, January 31st. The semiconductor company reported ($0.17) EPS for the quarter, hitting analysts’ consensus estimates of ($0.17). The firm had revenue of $125.35 million for the quarter, compared to the consensus estimate of $125.06 million. MaxLinear had a positive return on equity of 4.77% and a negative net margin of 10.55%. Analysts expect that MaxLinear will post -0.8 EPS for the current fiscal year.

Institutional Investors Weigh In On MaxLinear

Several institutional investors and hedge funds have recently modified their holdings of the company. Invesco Ltd. grew its position in MaxLinear by 97.1% in the 3rd quarter. Invesco Ltd. now owns 3,482,949 shares of the semiconductor company’s stock valued at $77,496,000 after acquiring an additional 1,716,026 shares in the last quarter. Vanguard Group Inc. lifted its holdings in MaxLinear by 12.6% during the 3rd quarter. Vanguard Group Inc. now owns 10,683,038 shares of the semiconductor company’s stock worth $237,698,000 after buying an additional 1,199,257 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of MaxLinear by 138.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,758,536 shares of the semiconductor company’s stock worth $41,801,000 after acquiring an additional 1,019,710 shares in the last quarter. BlackRock Inc. raised its stake in shares of MaxLinear by 6.8% in the first quarter. BlackRock Inc. now owns 13,399,917 shares of the semiconductor company’s stock valued at $471,811,000 after acquiring an additional 858,544 shares in the last quarter. Finally, Norges Bank purchased a new position in MaxLinear in the fourth quarter valued at $24,371,000. Hedge funds and other institutional investors own 90.79% of the company’s stock.

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.