Share on StockTwits

MaxLinear (NYSE:MXL)‘s stock had its “buy” rating reiterated by analysts at Deutsche Bank in a research report issued to clients and investors on Friday. They currently have a $13.00 price target on the stock, up from their previous price target of $12.00. Deutsche Bank’s price target would suggest a potential upside of 34.85% from the company’s current price.

The analysts wrote, “2Q beat but slight miss in 3Q. MXL delivered strong 2Q results beating on all metrics. The 3Q guide was slightly softer due to a pause in cable. We view this pause as temporary and have increased confidence in the strength of MXL’s satellite ramp beginning in 4Q and continuing ramp in 2015. Consequently with strong product cycles in satellite and cable, we raise our estimates, reiterate our Buy rating and raise our PT to $13.”

MaxLinear (NYSE:MXL) traded down 7.07% on Friday, hitting $8.81. The stock had a trading volume of 423,051 shares. MaxLinear has a 52-week low of $7.13 and a 52-week high of $11.32. The stock’s 50-day moving average is $9.99 and its 200-day moving average is $9.5. The company’s market cap is $314.0 million.

MaxLinear (NYSE:MXL) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.02. The company had revenue of $35.59 million for the quarter, compared to the consensus estimate of $35.23 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. Analysts expect that MaxLinear will post $0.46 EPS for the current fiscal year.

In other MaxLinear news, VP Madhukar Reddy sold 3,400 shares of the company’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $9.26, for a total value of $31,484.00. 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).

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.