Stock Update (NASDAQ:MXWL): Synaptics CEO Rick Bergman Joins Maxwell Technologies Inc.’s Board

Maxwell Technologies Inc. (NASDAQ:MXWL) announced today thatRick Bergman, President and CEO of Synaptics, Inc., a leading developer of human interface solutions for intelligent devices, has been appointed to Maxwell’s board of directors.

Bergman joined Synaptics in 2011, after serving in a series of senior executive positions with AMD, where he was Senior Vice President and General Manager of AMD’s Product Group from May 2009 to September 2011, and Senior Vice President and General Manager of AMD’s Graphics Product Group (GPG) from October 2006to May 2009. Until AMD acquired ATI in 2006, Mr. Bergman was Senior Vice President and General Manager ofATI’s PC Group. Previously, he was Chief Operating Officer of S3 Graphics and before that he held other senior management positions in the technology industry after beginning his career with Texas Instruments and IBM. He holds a Bachelor of Science from the University of Michigan and a Master’s degree in business administration from the University of Colorado’s Executive MBA program.

“We are delighted that Mr. Bergman has agreed to join Maxwell’s board,” said Mark Rossi, chairman of the board.  “His extensive business experience and contacts in the technology industry will make him a valuable resource and sounding board as we continue to pursue new avenues for growth.” (Original Source)

Shares of Maxwell Technologies opened closed today at $6.07, up $0.01 or 0.17%. MXWL has a 1-year high of $18.43 and a 1-year low of $5.60. The stock’s 50-day moving average is $6.97 and its 200-day moving average is $8.31.

On the ratings front, Maxwell has been the subject of a number of recent research reports. In a report issued on May 4, Piper Jaffray analyst Alexander Potter maintained a Buy rating on MXWL, with a price target of $9, which represents a potential upside of 47.3% from where the stock is currently trading. Separately, on April 27, Ardour’s Jinming Liu downgraded the stock to Hold and has a price target of $7.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Alexander Potter and Jinming Liu have a total average return of -6.5% and -3.8% respectively. Potter has a success rate of 40.7% and is ranked #3311 out of 3602 analysts, while Liu has a success rate of 53.8% and is ranked #3015.

Overall, 3 research analysts have assigned a Hold rating and one research analyst has given a a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $6.11 which is 26.8% above where the stock opened today.

Maxwell Technologies Inc develops, manufactures and markets energy storage and power delivery products for transportation, industrial, information technology and other applications and microelectronic products for space and satellite applications.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts