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Maxlinear (MXL) Receives a Rating Update from a Top Analyst

Tipranks - Sat Apr 25, 8:42AM CDT

Northland Securities analyst Tim Savageaux reiterated a Buy rating on Maxlinear today and set a price target of $55.00.

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According to TipRanks, Savageaux is a top 100 analyst with an average return of 44.0% and a 60.28% success rate. Savageaux covers the Technology sector, focusing on stocks such as Nokia, Lumentum Holdings, and AXT.

In addition to Northland Securities, Maxlinear also received a Buy from Needham’s Quinn Bolton in a report issued today. However, on the same day, Susquehanna reiterated a Hold rating on Maxlinear (NASDAQ: MXL).

Based on Maxlinear’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $137.19 million and a GAAP net loss of $45.14 million. In comparison, last year the company earned a revenue of $95.93 million and had a GAAP net loss of $49.71 million

Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MXL in relation to earlier this year.

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