StockNews.com Begins Coverage on MaxLinear (NYSE:MXL)

StockNews.com initiated coverage on shares of MaxLinear (NYSE:MXL – Get Rating) in a report released on Thursday morning. The brokerage issued a buy rating on the semiconductor company’s stock.

Other equities analysts have also recently issued reports about the stock. Susquehanna reaffirmed a positive rating and set a $48.00 price target on shares of MaxLinear in a research note on Thursday, March 9th. BNP Paribas started coverage on shares of MaxLinear in a research note on Tuesday, February 28th. They set an underperform rating and a $30.00 price target for the company. Needham & Company LLC dropped their price target on shares of MaxLinear from $50.00 to $48.00 and set a buy rating for the company in a research note on Thursday, February 2nd. Finally, Benchmark dropped their price target on shares of MaxLinear from $50.00 to $47.00 and set a buy rating for the company in a research note on Friday, February 3rd. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $46.22.

MaxLinear Stock Performance

Shares of NYSE:MXL opened at $34.05 on Thursday. MaxLinear has a 52 week low of $29.27 and a 52 week high of $63.89. The company has a quick ratio of 1.18, a current ratio of 1.65 and a debt-to-equity ratio of 0.18. The firm has a fifty day simple moving average of $36.78 and a two-hundred day simple moving average of $35.05. The stock has a market capitalization of $2.68 billion, a P/E ratio of 10.06 and a beta of 1.92.

Insider Activity at MaxLinear

In related news, insider James Lougheed sold 115,944 shares of MaxLinear stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $40.74, for a total transaction of $4,723,558.56. Following the completion of the sale, the insider now owns 3,921 shares in the company, valued at approximately $159,741.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MaxLinear

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MXL. Raymond James & Associates raised its holdings in shares of MaxLinear by 41.2% in the 1st quarter. Raymond James & Associates now owns 17,748 shares of the semiconductor company’s stock valued at $1,036,000 after purchasing an additional 5,183 shares in the last quarter. American Century Companies Inc. bought a new stake in shares of MaxLinear in the 1st quarter valued at about $864,000. Cambridge Investment Research Advisors Inc. raised its holdings in shares of MaxLinear by 22.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,298 shares of the semiconductor company’s stock valued at $309,000 after purchasing an additional 955 shares in the last quarter. Citigroup Inc. raised its holdings in shares of MaxLinear by 4.0% in the 1st quarter. Citigroup Inc. now owns 76,387 shares of the semiconductor company’s stock valued at $4,457,000 after purchasing an additional 2,937 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of MaxLinear by 26.8% in the 1st quarter. Bank of Montreal Can now owns 23,413 shares of the semiconductor company’s stock valued at $1,455,000 after purchasing an additional 4,947 shares in the last quarter. Institutional investors own 90.26% of the company’s stock.

MaxLinear Company Profile

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MaxLinear, Inc engages in the provision of communications systems-on-chip, or SoC, solutions used in broadband, mobile and wireline infrastructure, data center, and industrial and multi-market applications. Its products include cable broadband modems and gateways, wireline connectivity devices, radio frequency transceivers, fiber-optic modules, video set-top boxes and gateways, hybrid analog and digital televisions, direct broadcast satellite outdoor and indoor units, and power management and interface products.