Maxlinear (MXL) stock surged on Friday alongside several analyst updates following the electronic hardware company’s latest earnings report.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Here’s how Wall Street’s top analysts weighed in on Maxlinear stock today.
- Five-star Needham analyst Quinn Bolton upgraded MXL stock to a Buy rating and kept a $60 price target, representing a potential 75.18% upside.
- Five-star Susquehanna analyst Christopher Rolland reiterated a Hold rating but increased his price target to $45 from $30, suggesting a possible 31.39% upside.
- Five-star Stifel Nicolaus analyst Tore Svanberg maintained a Buy rating and raised his price target to $49 from $34, implying a 43.07% upside.
- Five-star Roth MKM analyst Sujeeva De Silva upgraded MXL stock to a Buy rating and boosted his price target to $60 from $18, representing a 75.18% upside.
De Silva, who holds the highest MXL stock price target among his peers, pointed to the company’s strong Q1 performance as the reason for his upgrade and $60 price target. He also noted that the company’s Q2 guidance is well above estimates. The analyst also praised the company’s long-term potential, saying it has “significant multi-quarter growth visibility.”
Maxlinear Stock Movement Today
Maxlinear stock was up 57.2% in premarket trading on Friday, following a 1.06% rally yesterday. The stock has also gained 96.5% year-to-date and 237.77% over the past 12 months.
With today’s news came heavy trading of MXL stock, as more than 1 million shares changed hands. To put that in perspective, the company’s three-month average daily trading volume is about 1.12 million shares.
Is Maxlinear Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Maxlinear is Strong Buy, based on six Buy and one Hold rating over the past three months. With that comes an average MXL stock price target of $49.50, representing a potential 44.52% upside for the shares.
