Northland Securities upgraded shares of MaxLinear (NYSE:MXL - Free Report) from a market perform rating to an outperform rating in a research note issued to investors on Thursday, Marketbeat.com reports. The firm currently has $30.00 price target on the semiconductor company's stock.
Several other research firms also recently issued reports on MXL. Wells Fargo & Company downgraded shares of MaxLinear from an overweight rating to an equal weight rating and decreased their price objective for the stock from $35.00 to $25.00 in a research note on Wednesday, January 3rd. StockNews.com upgraded MaxLinear from a sell rating to a hold rating in a report on Thursday, February 29th. Finally, Needham & Company LLC cut their price objective on MaxLinear from $28.00 to $25.00 and set a buy rating on the stock in a research report on Thursday, February 1st. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, MaxLinear currently has an average rating of Hold and an average target price of $25.64.
Check Out Our Latest Report on MaxLinear
MaxLinear Price Performance
Shares of MXL stock traded up $1.05 during midday trading on Thursday, reaching $22.70. 2,473,752 shares of the company traded hands, compared to its average volume of 732,292. The firm has a market cap of $1.86 billion, a PE ratio of -27.04 and a beta of 1.98. 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's 50 day simple moving average is $19.30 and its two-hundred day simple moving average is $19.97. MaxLinear has a 1-year low of $13.43 and a 1-year high of $35.09.
MaxLinear (NYSE:MXL - Get Free Report) last issued its quarterly earnings data on Wednesday, January 31st. The semiconductor company reported ($0.17) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.17). The firm had revenue of $125.35 million during the quarter, compared to analysts' expectations of $125.06 million. MaxLinear had a positive return on equity of 4.77% and a negative net margin of 10.55%. On average, equities research analysts expect that MaxLinear will post -0.8 EPS for the current fiscal year.
Hedge Funds Weigh In On MaxLinear
Several large investors have recently added to or reduced their stakes in MXL. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of MaxLinear by 291.5% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 120,873 shares of the semiconductor company's stock valued at $2,873,000 after purchasing an additional 90,000 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of MaxLinear by 8.5% during 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 in the last quarter. Price T Rowe Associates Inc. MD increased its stake in MaxLinear by 138.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,758,536 shares of the semiconductor company's stock valued at $41,801,000 after acquiring an additional 1,019,710 shares during the period. Barclays PLC increased its stake in MaxLinear by 197.8% in the fourth quarter. Barclays PLC now owns 182,134 shares of the semiconductor company's stock valued at $4,329,000 after acquiring an additional 120,976 shares during the period. Finally, Voloridge Investment Management LLC raised its position in MaxLinear by 7.3% in the fourth quarter. Voloridge Investment Management LLC now owns 850,740 shares of the semiconductor company's stock worth $20,222,000 after purchasing an additional 57,713 shares in the last quarter. Institutional investors and hedge funds own 90.79% of the company's stock.
MaxLinear Company Profile
(
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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.
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