MaxLinear (NASDAQ:MXL) Given Buy Rating at Benchmark

Benchmark restated their buy rating on shares of MaxLinear (NASDAQ:MXL) in a report issued on Thursday,Benzinga reports. Benchmark currently has a $28.00 price objective on the semiconductor company’s stock.

MXL has been the topic of a number of other research reports. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a research report on Thursday. Susquehanna cut their price objective on shares of MaxLinear from $25.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday. Craig Hallum reduced their target price on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Wells Fargo & Company lifted their price target on shares of MaxLinear from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Northland Securities increased their price objective on shares of MaxLinear from $25.00 to $27.50 and gave the stock an “outperform” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $25.50.

MaxLinear Trading Down 19.8 %

NASDAQ:MXL opened at $17.47 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.95 and a quick ratio of 1.38. MaxLinear has a 1-year low of $11.08 and a 1-year high of $26.59. The business’s 50-day moving average price is $19.80 and its two-hundred day moving average price is $16.44.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.14). MaxLinear had a negative net margin of 68.01% and a negative return on equity of 21.15%. As a group, research analysts expect that MaxLinear will post -0.21 earnings per share for the current year.

Insider Activity

In related news, Director Ted L. Tewksbury III sold 5,800 shares of MaxLinear stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $15.36, for a total transaction of $89,088.00. Following the completion of the sale, the director now owns 69,717 shares of the company’s stock, valued at approximately $1,070,853.12. The trade was a 7.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP William Torgerson sold 6,100 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $15.40, for a total transaction of $93,940.00. Following the completion of the transaction, the vice president now directly owns 179,262 shares in the company, valued at approximately $2,760,634.80. This represents a 3.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,900 shares of company stock valued at $927,278. 8.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On MaxLinear

A number of hedge funds and other institutional investors have recently modified their holdings of MXL. Vaughan Nelson Investment Management L.P. bought a new position in MaxLinear during the third quarter worth about $16,696,000. Assenagon Asset Management S.A. increased its holdings in shares of MaxLinear by 339.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,250,769 shares of the semiconductor company’s stock worth $24,740,000 after purchasing an additional 966,468 shares during the period. Millennium Management LLC increased its holdings in shares of MaxLinear by 307.9% during the second quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company’s stock worth $21,039,000 after purchasing an additional 788,558 shares during the period. FMR LLC raised its position in shares of MaxLinear by 184.5% in the third quarter. FMR LLC now owns 456,929 shares of the semiconductor company’s stock valued at $6,616,000 after buying an additional 296,339 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of MaxLinear by 36.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,089,065 shares of the semiconductor company’s stock valued at $15,770,000 after buying an additional 291,874 shares during the period. Institutional investors and hedge funds 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.