MaxLinear (NASDAQ:MXL) Coverage Initiated at Benchmark

Key Points

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Equities researchers at Benchmark began coverage on shares of MaxLinear (NASDAQ:MXL - Get Free Report) in a report issued on Wednesday. The firm set a "buy" rating and a $125.00 price target on the semiconductor company's stock. Benchmark's price objective would suggest a potential upside of 24.47% from the company's current price.

MXL has been the subject of a number of other research reports. Needham & Company LLC upgraded MaxLinear from a "hold" rating to a "buy" rating and set a $60.00 price objective for the company in a research report on Friday, April 24th. Stifel Nicolaus upped their price target on shares of MaxLinear from $34.00 to $49.00 and gave the company a "buy" rating in a research report on Friday, April 24th. Roth Mkm upgraded shares of MaxLinear from a "neutral" rating to a "buy" rating and set a $60.00 price objective on the stock in a research note on Friday, April 24th. Susquehanna reissued a "neutral" rating and issued a $30.00 price objective on shares of MaxLinear in a report on Monday, April 20th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of MaxLinear in a report on Tuesday, April 21st. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $53.90.

MaxLinear Stock Performance

NASDAQ:MXL traded up $4.30 during mid-day trading on Wednesday, reaching $100.42. The company's stock had a trading volume of 817,553 shares, compared to its average volume of 2,761,582. The company has a current ratio of 1.70, a quick ratio of 1.12 and a debt-to-equity ratio of 0.27. The stock has a market cap of $8.99 billion, a P/E ratio of -65.92 and a beta of 3.95. The firm's fifty day moving average price is $47.73 and its two-hundred day moving average price is $28.09. MaxLinear has a 12-month low of $10.96 and a 12-month high of $106.28.

MaxLinear (NASDAQ:MXL - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.04. MaxLinear had a negative net margin of 25.96% and a negative return on equity of 2.33%. The firm had revenue of $137.19 million for the quarter, compared to the consensus estimate of $137.15 million. During the same quarter last year, the firm posted ($0.05) EPS. The business's quarterly revenue was up 43.0% compared to the same quarter last year. On average, equities analysts forecast that MaxLinear will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Connie H. Kwong sold 35,000 shares of the business's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $96.96, for a total value of $3,393,600.00. Following the sale, the insider directly owned 13,947 shares in the company, valued at approximately $1,352,301.12. The trade was a 71.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven G. Litchfield sold 20,000 shares of the company's stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $15.68, for a total value of $313,600.00. Following the sale, the insider directly owned 343,435 shares in the company, valued at $5,385,060.80. This trade represents a 5.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 99,097 shares of company stock valued at $5,150,815. Insiders own 7.70% of the company's stock.

Hedge Funds Weigh In On MaxLinear

Several large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its stake in MaxLinear by 16.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company's stock worth $27,000 after purchasing an additional 217 shares during the period. Captrust Financial Advisors boosted its stake in shares of MaxLinear by 4.3% during the fourth quarter. Captrust Financial Advisors now owns 14,074 shares of the semiconductor company's stock valued at $245,000 after purchasing an additional 577 shares during the period. State of Alaska Department of Revenue grew its holdings in shares of MaxLinear by 1.4% in the fourth quarter. State of Alaska Department of Revenue now owns 45,677 shares of the semiconductor company's stock worth $795,000 after purchasing an additional 632 shares during the last quarter. ProShare Advisors LLC increased its stake in MaxLinear by 4.3% in the 4th quarter. ProShare Advisors LLC now owns 16,048 shares of the semiconductor company's stock worth $280,000 after buying an additional 664 shares during the period. Finally, Smartleaf Asset Management LLC lifted its holdings in MaxLinear by 103.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company's stock valued at $25,000 after buying an additional 726 shares in the last quarter. Institutional investors own 90.79% of the company's stock.

MaxLinear Company Profile

MaxLinear, Inc is a provider of radio-frequency (RF), analog, and mixed-signal integrated circuits for broadband communications, data center connectivity, and video infrastructure applications. The company's product portfolio includes high-performance RF front-end modules, broadband power amplifiers, optical and Ethernet transceivers, and network processors designed to support demanding signal processing requirements.

MaxLinear's semiconductor solutions are used by cable and satellite television operators, fiber-to-the-home service providers, network equipment manufacturers, and data center operators.

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