MaxLinear (NYSE:MXL) Price Target Raised to $28.00

MaxLinear (NYSE:MXL - Get Free Report) had its price target hoisted by equities researchers at Benchmark from $23.00 to $28.00 in a research report issued on Monday, Benzinga reports. The firm currently has a "buy" rating on the semiconductor company's stock. Benchmark's target price would suggest a potential upside of 29.45% from the stock's previous close.

MXL has been the subject of several other reports. Needham & Company LLC lowered their target price on MaxLinear from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Thursday, February 1st. Wells Fargo & Company lowered shares of MaxLinear from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $35.00 to $25.00 in a research note on Wednesday, January 3rd. Northland Securities upgraded shares of MaxLinear from a "market perform" rating to an "outperform" rating and set a $30.00 price target for the company in a research note on Thursday, April 4th. Finally, StockNews.com raised shares of MaxLinear from a "sell" rating to a "hold" rating in a research report on Thursday, February 29th. Eight 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 MarketBeat, MaxLinear presently has an average rating of "Hold" and a consensus price target of $26.09.

MaxLinear Stock Down 1.9 %

Shares of NYSE MXL traded down $0.42 during midday trading on Monday, hitting $21.63. The company's stock had a trading volume of 663,069 shares, compared to its average volume of 752,244. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.20 and a quick ratio of 1.75. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of -24.30 and a beta of 1.98. The business's fifty day simple moving average is $19.62 and its two-hundred day simple moving average is $20.00. MaxLinear has a 1 year low of $13.43 and a 1 year high of $35.09.

MaxLinear (NYSE:MXL - Get Free Report) last released its earnings results on Wednesday, January 31st. The semiconductor company reported ($0.17) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.17). The company had revenue of $125.35 million for the quarter, compared to analyst estimates of $125.06 million. MaxLinear had a negative net margin of 10.55% and a positive return on equity of 4.77%. On average, equities analysts predict that MaxLinear will post -0.8 EPS for the current year.

Institutional Investors Weigh In On MaxLinear

Several large investors have recently modified their holdings of MXL. BlackRock Inc. raised its position in shares of MaxLinear by 0.9% in the second quarter. BlackRock Inc. now owns 13,526,579 shares of the semiconductor company's stock valued at $426,899,000 after buying an additional 126,662 shares during the last quarter. Vanguard Group Inc. raised its holdings in MaxLinear by 8.5% in the 4th quarter. Vanguard Group Inc. now owns 11,586,273 shares of the semiconductor company's stock valued at $275,406,000 after acquiring an additional 903,235 shares during the last quarter. State Street Corp lifted its stake in shares of MaxLinear by 8.7% during the 2nd quarter. State Street Corp now owns 3,994,781 shares of the semiconductor company's stock worth $126,075,000 after purchasing an additional 319,971 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of MaxLinear by 97.1% during the third quarter. Invesco Ltd. now owns 3,482,949 shares of the semiconductor company's stock worth $77,496,000 after purchasing an additional 1,716,026 shares during the last quarter. Hedge funds and other institutional investors own 90.79% of the company's stock.

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.