Benchmark Reaffirms Buy Rating for MaxLinear (NASDAQ:MXL)

MaxLinear (NASDAQ:MXL)‘s stock had its “buy” rating restated by stock analysts at Benchmark in a report issued on Thursday,Benzinga reports. They presently have a $28.00 price objective on the semiconductor company’s stock. Benchmark’s target price points to a potential upside of 56.77% from the stock’s current price.

MXL has been the subject of several other reports. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a report on Thursday. Wells Fargo & Company upped their price target on MaxLinear from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Thursday. Northland Securities lifted their price objective on shares of MaxLinear from $25.00 to $27.50 and gave the stock an “outperform” rating in a report on Monday, January 6th. Craig Hallum cut their target price on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Finally, Susquehanna dropped their price objective on shares of MaxLinear from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $25.50.

MaxLinear Stock Performance

NASDAQ:MXL opened at $17.86 on Thursday. MaxLinear has a 1-year low of $11.08 and a 1-year high of $26.59. The stock has a market cap of $1.51 billion, a P/E ratio of -6.10 and a beta of 1.79. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.95 and a quick ratio of 1.38. The firm has a 50-day moving average of $19.85 and a two-hundred day moving average of $16.39.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.14). MaxLinear had a negative return on equity of 21.15% and a negative net margin of 68.01%. On average, research analysts expect that MaxLinear will post -0.21 earnings per share for the current fiscal year.

Insider Activity

In related news, VP William Torgerson sold 6,100 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $15.40, for a total value of $93,940.00. Following the completion of the transaction, the vice president now owns 179,262 shares of the company’s stock, valued at approximately $2,760,634.80. This trade represents a 3.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Connie H. Kwong sold 5,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $18.61, for a total value of $93,050.00. Following the completion of the sale, the insider now directly owns 49,147 shares of the company’s stock, valued at approximately $914,625.67. This represents a 9.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,900 shares of company stock worth $927,278. 8.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On MaxLinear

Several institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. raised its holdings in MaxLinear by 29.0% during the fourth quarter. Pacer Advisors Inc. now owns 1,968 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 443 shares in the last quarter. R Squared Ltd bought a new position in shares of MaxLinear in the fourth quarter valued at approximately $45,000. Truvestments Capital LLC bought a new stake in shares of MaxLinear during the 3rd quarter worth $42,000. GAMMA Investing LLC grew its stake in MaxLinear by 151.8% in the 3rd quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 2,093 shares during the last quarter. Finally, CWM LLC raised its holdings 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 acquiring an additional 4,418 shares during the period. 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.