Analysts at Needham Reconfirmed their “Buy” rating for MaxLinear (NYSE:MXL) with $32.0 Target Price per Share

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Needham Analyst Rating Change MaxLinear NYSE:MXL

MaxLinear (NYSE:MXL) Rating Kept

In a report made public on Monday, 17 July, MaxLinear (NYSE:MXL) stock had its “Buy” Rating kept by expert analysts at Needham. They currently have a $32.0 target price per share on firm. Needham’s target would suggest a potential upside of 11.19 % from the company’s previous stock close.

NYSE:MXL is currently trading 0.00% lower at $28.78 as of 12:02 AM New York time. MaxLinear’s stock is 0% in the past 200 days. It has underperformed the S&P500 Index, which has increased 6.00% in the same time period.

Out of 6 analysts covering MaxLinear, 7 rate it a Buy, 0 indicate a Hold while 0 suggest a Sell. The highest target is $25 and the lowest is $19 according to Thomson/First Call. The 12-month mean target is $22, which means downside potential of 23.56% over the current price.

Institutional Ownership

Elk Creek Partners Llc had the biggest stake with ownership of 2.47 million shares as of Q2 2015 for 3.29% of the US long equity exposure. Paradigm Capital Management Inc Ny is another very bullish investment manager who is owning 997,400 shares of MaxLinear or 2.12% of their US long equity exposure. Also, Whale Rock Capital Management Llc have 1.92% of their US long equity exposure invested in the company for 1.47 million shares. The Illinois-based fund Oberweis Asset Management Inc revealed it had acquired a stake worth about 1.63% of the investment manager’s stock portfolio in MaxLinear. The California-based fund Avalon Global Asset Management Llc is also positive about the stock, possessing 279,950 shares or 1.58% of their US long equity exposure.

MaxLinear (NYSE:MXL) Profile

MaxLinear, Inc. is a provider of radio frequency (RF) and mixed-signal integrated circuits for cable and satellite broadband communications and the connected home, and wired and wireless infrastructure markets. The Company’s RF receiver products capture and process digital and analog broadband signals to be decoded for various applications. These products include both RF receivers and RF receiver systems-on-chip (SoCs), which incorporate its radio system architecture and the functionality necessary to receive and demodulate broadband signals, modem solutions, and physical medium devices that provide a constant current source, current-to-voltage regulation, and data alignment and retiming functionality in optical interconnect applications.

MaxLinear (NYSE:MXL) closed at $28.78 yesterday. A total of shares of the company’s stock traded hands. This is down from average of 733,373 shares. MaxLinear has a 52 week low of $17.13 and a 52 week high of $32.47. The company has a market cap of $1.92B and a P/E ratio of 39.9.

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