MaxLinear (NYSE:MXL) Upgraded to Outperform by Northland Securities

MaxLinear (NYSE:MXLGet Free Report) was upgraded by equities research analysts at Northland Securities from a “market perform” rating to an “outperform” rating in a research note issued on Thursday, Marketbeat Ratings reports. The brokerage presently has a $30.00 price objective on the semiconductor company’s stock. Northland Securities’ price target indicates a potential upside of 38.57% from the company’s previous close.

MXL has been the topic of several other reports. Wells Fargo & Company cut MaxLinear from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $35.00 to $25.00 in a research report on Wednesday, January 3rd. Needham & Company LLC decreased their price objective on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, February 1st. Finally, StockNews.com raised MaxLinear from a “sell” rating to a “hold” rating in a report on Thursday, February 29th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $25.64.

Check Out Our Latest Stock Analysis on MXL

MaxLinear Trading Up 6.4 %

NYSE:MXL opened at $21.65 on Thursday. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of -24.33 and a beta of 1.98. The firm has a 50-day moving average price of $19.30 and a two-hundred day moving average price of $19.97. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.75 and a current ratio of 2.20. MaxLinear has a 52 week low of $13.43 and a 52 week high of $35.09.

MaxLinear (NYSE:MXLGet Free Report) last posted its earnings results on Wednesday, January 31st. The semiconductor company reported ($0.17) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.17). The business 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 expect that MaxLinear will post -0.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MaxLinear

A number of institutional investors have recently bought and sold shares of MXL. Captrust Financial Advisors grew its position in MaxLinear by 2.8% during the second quarter. Captrust Financial Advisors now owns 12,636 shares of the semiconductor company’s stock valued at $429,000 after buying an additional 340 shares during the period. Rockefeller Capital Management L.P. boosted its stake in MaxLinear by 13.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 3,798 shares of the semiconductor company’s stock worth $128,000 after purchasing an additional 436 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in shares of MaxLinear by 8.0% in the second quarter. Ameritas Investment Partners Inc. now owns 6,163 shares of the semiconductor company’s stock valued at $195,000 after buying an additional 459 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in MaxLinear by 8.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,310 shares of the semiconductor company’s stock valued at $150,000 after acquiring an additional 490 shares during the last quarter. Finally, XTX Topco Ltd lifted its stake in MaxLinear by 5.2% in the 1st quarter. XTX Topco Ltd now owns 9,995 shares of the semiconductor company’s stock worth $352,000 after purchasing an additional 492 shares in the last quarter. 90.79% of the stock is owned by hedge funds and other institutional investors.

About MaxLinear

(Get Free Report)

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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