Benchmark Issues Positive Forecast for MaxLinear (NASDAQ:MXL) Stock Price

MaxLinear (NASDAQ:MXL - Get Free Report) had its price target boosted by stock analysts at Benchmark from $20.00 to $25.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the semiconductor company's stock. Benchmark's price target indicates a potential upside of 52.81% from the stock's previous close.

Several other equities analysts have also issued reports on MXL. Susquehanna raised their price target on MaxLinear from $11.00 to $15.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Loop Capital lowered their target price on MaxLinear from $18.00 to $10.00 and set a "hold" rating for the company in a research note on Tuesday, April 29th. Wells Fargo & Company lifted their price target on MaxLinear from $12.00 to $13.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Roth Capital set a $11.00 target price on MaxLinear and gave the stock a "neutral" rating in a report on Thursday, April 24th. Finally, Stifel Nicolaus lifted their price objective on MaxLinear from $16.00 to $18.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $18.69.

MaxLinear Price Performance

Shares of MaxLinear stock traded down $0.89 during trading on Thursday, hitting $16.36. 2,783,894 shares of the stock traded hands, compared to its average volume of 1,549,865. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -6.62 and a beta of 1.72. The company has a quick ratio of 1.19, a current ratio of 1.55 and a debt-to-equity ratio of 0.25. MaxLinear has a 52 week low of $8.35 and a 52 week high of $25.73. The firm's fifty day moving average is $13.49 and its 200-day moving average is $14.04.

MaxLinear (NASDAQ:MXL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The semiconductor company reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. MaxLinear had a negative net margin of 55.53% and a negative return on equity of 18.16%. The business had revenue of $108.81 million during the quarter, compared to the consensus estimate of $104.94 million. During the same period in the previous year, the firm posted ($0.25) earnings per share. The firm's revenue for the quarter was up 18.3% on a year-over-year basis. Research analysts expect that MaxLinear will post -0.37 EPS for the current fiscal year.

Insider Transactions at MaxLinear

In other news, Director Ted L. Tewksbury III sold 6,071 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $10.40, for a total value of $63,138.40. Following the transaction, the director directly owned 74,995 shares in the company, valued at $779,948. The trade was a 7.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 7.80% of the company's stock.

Hedge Funds Weigh In On MaxLinear

Large investors have recently made changes to their positions in the business. Aster Capital Management DIFC Ltd purchased a new stake in MaxLinear during the fourth quarter valued at approximately $34,000. Farther Finance Advisors LLC bought a new position in MaxLinear in the second quarter worth approximately $44,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in MaxLinear in the first quarter worth approximately $49,000. Strs Ohio purchased a new stake in MaxLinear during the first quarter worth $63,000. Finally, GAMMA Investing LLC lifted its holdings in MaxLinear by 36.6% during the second quarter. GAMMA Investing LLC now owns 5,143 shares of the semiconductor company's stock worth $73,000 after buying an additional 1,378 shares during the period. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

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.