MaxLinear Receives New Coverage from Analysts at Chardan Capital (MXL)
Research analysts at Chardan Capital assumed coverage on shares of MaxLinear (NYSE:MXL) in a report released on Wednesday, Analyst Ratings.Net reports. The firm set a “neutral” rating and a $8.00 price target on the stock. Chardan Capital’s target price indicates a potential downside of 7.94% from the stock’s previous close.
Shares of MaxLinear (NYSE:MXL) opened at 8.69 on Wednesday. MaxLinear has a 52 week low of $4.50 and a 52 week high of $9.05. The stock’s 50-day moving average is $8.08 and its 200-day moving average is $6.83. The company’s market cap is $299.7 million.
MaxLinear (NYSE:MXL) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.11 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.06 by $0.05. The company had revenue of $29.80 million for the quarter, compared to the consensus estimate of $28.50 million. During the same quarter last year, the company posted $0.05 earnings per share. MaxLinear’s revenue was up 22.1% compared to the same quarter last year. Analysts expect that MaxLinear will post $0.33 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on MXL. Analysts at Deutsche Bank reiterated a “buy” rating on shares of MaxLinear (NYSE:MXL) in a research note to investors on Friday, September 13th. They now have a $10.00 price target on the stock. Separately, analysts at Needham & Company raised their price target on shares of MaxLinear (NYSE:MXL) from $9.00 to $12.00 in a research note to investors on Friday, September 13th. They now have a “strong-buy” rating on the stock. Finally, analysts at Benchmark Co. initiated coverage on shares of MaxLinear (NYSE:MXL) in a research note to investors on Friday, September 6th. They set a “buy” rating and a $11.00 price target on the stock.
Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $10.20.
In other MaxLinear news, VP Justin Scarpulla sold 8,000 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $8.48, for a total transaction of $67,840.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
MaxLinear, Inc operates as a fabless communications Integrated Circuit company. The Company is creating solutions for wireless and wire-line applications (NYSE:MXL).
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