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

MaxLinear (NASDAQ:MXL - Get Free Report) had its price target raised by equities researchers at Benchmark from $20.00 to $25.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the semiconductor company's stock. Benchmark's price target indicates a potential upside of 44.93% from the company's current price.

A number of other analysts have also recently weighed in on MXL. Wells Fargo & Company set a $13.00 price objective on shares of MaxLinear and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Stifel Nicolaus boosted their price objective on shares of MaxLinear from $16.00 to $18.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Susquehanna boosted their price objective on shares of MaxLinear from $11.00 to $15.00 and gave the stock a "neutral" rating in a research note on Tuesday. Loop Capital reduced their price objective on shares of MaxLinear from $18.00 to $10.00 and set a "hold" rating for the company in a research note on Tuesday, April 29th. Finally, Roth Capital set a $11.00 price objective on shares of MaxLinear and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $18.69.

MaxLinear Stock Up 12.6%

MXL traded up $1.93 on Thursday, reaching $17.25. 11,084,086 shares of the company traded hands, compared to its average volume of 1,043,959. The stock's 50 day moving average price is $13.32 and its 200-day moving average price is $14.13. MaxLinear has a 52-week low of $8.35 and a 52-week high of $25.73. The company has a market cap of $1.46 billion, a price-to-earnings ratio of -6.98 and a beta of 1.72. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.63 and a quick ratio of 1.19.

MaxLinear (NASDAQ:MXL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The semiconductor company reported $0.02 EPS for the quarter, meeting analysts' consensus estimates of $0.02. The firm had revenue of $108.81 million for the quarter, compared to the consensus estimate of $104.94 million. MaxLinear had a negative net margin of 55.53% and a negative return on equity of 17.87%. The firm's revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.25) earnings per share. On average, sell-side analysts expect that MaxLinear will post -0.37 EPS for the current fiscal year.

Insider Transactions at MaxLinear

In other MaxLinear news, Director Ted L. Tewksbury III sold 6,071 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $10.40, for a total value of $63,138.40. Following the sale, the director owned 74,995 shares of the company's stock, valued at $779,948. The trade was a 7.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 7.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On MaxLinear

Several large investors have recently made changes to their positions in MXL. The Manufacturers Life Insurance Company grew its holdings in shares of MaxLinear by 3,698.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,525,419 shares of the semiconductor company's stock worth $30,173,000 after purchasing an additional 1,485,256 shares during the last quarter. Invesco Ltd. grew its holdings in MaxLinear by 414.8% during the 1st quarter. Invesco Ltd. now owns 1,684,247 shares of the semiconductor company's stock worth $18,291,000 after acquiring an additional 1,357,093 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in MaxLinear during the 4th quarter worth about $25,659,000. Schonfeld Strategic Advisors LLC bought a new stake in MaxLinear during the 4th quarter worth about $25,027,000. Finally, Point72 Asset Management L.P. grew its holdings in MaxLinear by 1,813.5% during the 4th quarter. Point72 Asset Management L.P. now owns 1,256,300 shares of the semiconductor company's stock worth $24,850,000 after acquiring an additional 1,190,647 shares during the last quarter. Institutional investors own 90.79% of the company's stock.

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.