MaxLinear (NASDAQ:MXL) Price Target Cut to $25.00 by Analysts at Craig Hallum

MaxLinear (NASDAQ:MXL) had its target price lowered by Craig Hallum from $28.00 to $25.00 in a research note published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Other research analysts have also issued research reports about the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a research note on Thursday. Northland Securities lowered their target price on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Susquehanna downgraded shares of MaxLinear from a “positive” rating to a “neutral” rating and lowered their target price for the stock from $26.00 to $15.00 in a report on Tuesday, October 1st. Benchmark reiterated a “buy” rating and issued a $22.00 price objective on shares of MaxLinear in a report on Thursday. Finally, Stifel Nicolaus upped their price objective on shares of MaxLinear from $26.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, July 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $23.13.

MaxLinear Price Performance

NASDAQ:MXL traded down $0.07 during mid-day trading on Thursday, reaching $15.02. 425,202 shares of the company were exchanged, compared to its average volume of 946,185. The company has a quick ratio of 1.59, a current ratio of 2.09 and a debt-to-equity ratio of 0.20. MaxLinear has a 12 month low of $11.08 and a 12 month high of $26.59. The stock has a market cap of $1.26 billion, a PE ratio of -6.49 and a beta of 1.83. The company has a fifty day moving average of $13.83 and a 200 day moving average of $17.17.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). MaxLinear had a negative net margin of 42.38% and a negative return on equity of 12.39%. The company had revenue of $81.10 million during the quarter, compared to the consensus estimate of $80.40 million. During the same period in the previous year, the firm posted ($0.02) EPS. The business’s quarterly revenue was down 40.2% compared to the same quarter last year. On average, research analysts anticipate that MaxLinear will post -1.74 EPS for the current fiscal year.

Insider Activity

In other news, CEO Kishore Seendripu acquired 108,303 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was acquired at an average price of $12.94 per share, with a total value of $1,401,440.82. Following the completion of the transaction, the chief executive officer now directly owns 531,937 shares of the company’s stock, valued at $6,883,264.78. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MaxLinear

Several institutional investors and hedge funds have recently bought and sold shares of MXL. Headlands Technologies LLC bought a new stake in MaxLinear during the first quarter worth about $27,000. Innealta Capital LLC bought a new position in shares of MaxLinear in the second quarter worth about $30,000. International Assets Investment Management LLC bought a new position in shares of MaxLinear in the second quarter worth about $31,000. GAMMA Investing LLC lifted its holdings in shares of MaxLinear by 151.8% in the third quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 2,093 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of MaxLinear in the second quarter worth about $56,000. Institutional investors own 90.79% of the company’s stock.

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.