Needham & Company LLC Reaffirms Buy Rating for MaxLinear (NYSE:MXL)

MaxLinear (NYSE:MXL)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a note issued to investors on Thursday, Benzinga reports. They presently have a $25.00 price objective on the semiconductor company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 21.42% from the company’s current price.

Several other analysts have also issued reports on the company. Benchmark increased their target price on MaxLinear from $23.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, April 15th. StockNews.com upgraded shares of MaxLinear from a “sell” rating to a “hold” rating in a research note on Thursday, February 29th. Wells Fargo & Company cut shares of MaxLinear from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $35.00 to $25.00 in a research report on Wednesday, January 3rd. Finally, Northland Securities raised shares of MaxLinear from a “market perform” rating to an “outperform” rating and set a $30.00 price target for the company in a report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $26.09.

MaxLinear Stock Performance

Shares of NYSE:MXL opened at $20.59 on Thursday. MaxLinear has a 12-month low of $13.43 and a 12-month high of $35.09. The company’s 50 day moving average price is $19.90 and its two-hundred day moving average price is $19.95. The firm has a market cap of $1.69 billion, a PE ratio of -10.79 and a beta of 1.98. The company has a quick ratio of 1.75, a current ratio of 2.20 and a debt-to-equity ratio of 0.18.

MaxLinear (NYSE:MXL) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.02. MaxLinear had a negative return on equity of 4.63% and a negative net margin of 28.70%. The business had revenue of $95.27 million during the quarter, compared to analysts’ expectations of $94.99 million. Equities research analysts predict that MaxLinear will post -0.8 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MXL. Simplicity Wealth LLC bought a new position in MaxLinear in the first quarter valued at about $349,000. Assenagon Asset Management S.A. boosted its position in MaxLinear by 9.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 346,873 shares of the semiconductor company’s stock worth $6,476,000 after buying an additional 29,102 shares during the period. Counterpoint Mutual Funds LLC bought a new stake in MaxLinear during the 1st quarter worth approximately $294,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in MaxLinear by 291.5% in the 4th 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 acquiring an additional 90,000 shares during the period. Finally, Vanguard Group Inc. increased its position 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 period. 90.79% of the stock is currently owned by 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.