MaxLinear (NYSE:MXL) Rating Lowered to Neutral at Susquehanna

Susquehanna cut shares of MaxLinear (NYSE:MXL) from a positive rating to a neutral rating in a research report released on Tuesday morning, MarketBeat reports. Susquehanna currently has $15.00 price target on the semiconductor company’s stock, down from their previous price target of $26.00.

A number of other research analysts have also recently issued reports on the company. Needham & Company LLC cut MaxLinear from a buy rating to a hold rating in a report on Thursday, July 25th. Stifel Nicolaus boosted their price target on shares of MaxLinear from $26.00 to $30.00 and gave the company a buy rating in a research report on Thursday, July 18th. Craig Hallum dropped their price objective on shares of MaxLinear from $38.00 to $28.00 and set a hold rating for the company in a report on Thursday, July 25th. Benchmark reduced their target price on MaxLinear from $28.00 to $22.00 and set a buy rating on the stock in a report on Thursday, July 25th. Finally, Northland Securities dropped their price target on MaxLinear from $30.00 to $25.00 and set an outperform rating for the company in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, MaxLinear has an average rating of Hold and an average target price of $23.44.

MaxLinear Stock Performance

MXL opened at $13.42 on Tuesday. The stock has a market cap of $1.12 billion, a PE ratio of -7.10 and a beta of 1.83. MaxLinear has a 1 year low of $11.08 and a 1 year high of $26.59. The stock’s 50 day simple moving average is $13.30 and its 200-day simple moving average is $17.68. The company has a current ratio of 2.09, a quick ratio of 1.59 and a debt-to-equity ratio of 0.20.

MaxLinear (NYSE:MXL) last announced its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.06). MaxLinear had a negative net margin of 42.38% and a negative return on equity of 12.39%. The business had revenue of $92.00 million during the quarter, compared to analyst estimates of $100.25 million. During the same quarter in the prior year, the company posted $0.19 EPS. The company’s quarterly revenue was down 50.0% compared to the same quarter last year. Sell-side analysts forecast that MaxLinear will post -1.6 EPS for the current year.

Insiders Place Their Bets

In other MaxLinear news, CEO Kishore Seendripu bought 108,303 shares of the stock in a transaction on Tuesday, July 30th. The stock was purchased at an average price of $12.94 per share, with a total value of $1,401,440.82. Following the acquisition, the chief executive officer now owns 531,937 shares of the company’s stock, valued at approximately $6,883,264.78. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 8.60% of the company’s stock.

Institutional Trading of MaxLinear

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC acquired a new position in MaxLinear during the first quarter valued at approximately $27,000. Innealta Capital LLC acquired a new position in shares of MaxLinear in the 2nd quarter valued at $30,000. International Assets Investment Management LLC bought a new stake in shares of MaxLinear in the 2nd quarter valued at $31,000. Canada Pension Plan Investment Board acquired a new stake in MaxLinear during the 2nd quarter worth $56,000. Finally, EntryPoint Capital LLC bought a new position in MaxLinear during the first quarter worth about $59,000. 90.79% of the stock is owned by institutional investors.

MaxLinear Company Profile

MaxLinear, Inc provides communications systems-on-chip solutions worldwide. Its products integrate various portions of a high-speed communication system, including radio frequency, high-performance analog, mixed-signal, digital signal processing, security engines, data compression and networking layers, and power management.