MaxLinear (NYSE:MXL) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of MaxLinear (NYSE:MXL) in a research report report published on Thursday morning, Benzinga reports. They currently have a $25.00 target price on the semiconductor company’s stock.

Several other equities research analysts have also weighed in on the company. StockNews.com upgraded MaxLinear from a sell rating to a hold rating in a research note on Thursday, February 29th. Benchmark upped their price target on MaxLinear from $23.00 to $28.00 and gave the company a buy rating in a research report on Monday, April 15th. Wells Fargo & Company cut MaxLinear from an overweight rating to an equal weight rating and cut their price objective for the company from $35.00 to $25.00 in a report on Wednesday, January 3rd. Finally, Northland Securities raised shares of MaxLinear from a market perform rating to an outperform rating and set a $30.00 target price on the stock in a report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, MaxLinear has a consensus rating of Hold and a consensus target price of $26.09.

MaxLinear Stock Down 1.2 %

MXL stock opened at $20.68 on Thursday. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of -10.94 and a beta of 1.98. The company has a 50-day moving average of $19.90 and a two-hundred day moving average of $19.95. MaxLinear has a 52-week low of $13.43 and a 52-week 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 issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.02. MaxLinear had a negative net margin of 28.70% and a negative return on equity of 4.63%. The firm had revenue of $95.27 million during the quarter, compared to the consensus estimate of $94.99 million. As a group, equities research analysts anticipate that MaxLinear will post -0.8 EPS for the current year.

Institutional Investors Weigh In On MaxLinear

A number of hedge funds have recently made changes to their positions in MXL. CWM LLC increased its stake in shares of MaxLinear by 712.8% in the third quarter. CWM LLC now owns 2,292 shares of the semiconductor company’s stock valued at $51,000 after buying an additional 2,010 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of MaxLinear by 27.2% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 4,029 shares of the semiconductor company’s stock valued at $90,000 after acquiring an additional 862 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of MaxLinear by 289.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,062 shares of the semiconductor company’s stock valued at $97,000 after acquiring an additional 3,020 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of MaxLinear by 8.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,310 shares of the semiconductor company’s stock worth $150,000 after purchasing an additional 490 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of MaxLinear by 39.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,320 shares of the semiconductor company’s stock worth $185,000 after purchasing an additional 2,355 shares during the last quarter. 90.79% of the stock is currently owned by institutional investors and hedge funds.

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.