MaxLinear, Inc. (NYSE:MXL) Given Average Recommendation of “Hold” by Brokerages

Shares of MaxLinear, Inc. (NYSE:MXL) have received an average rating of “Hold” from the ten analysts that are presently covering the company, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $24.67.

A number of brokerages recently issued reports on MXL. Stifel Nicolaus upped their price target on shares of MaxLinear from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Benchmark decreased their target price on shares of MaxLinear from $28.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Needham & Company LLC cut shares of MaxLinear from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Northland Securities reduced their price target on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Finally, Susquehanna lowered their price objective on MaxLinear from $30.00 to $26.00 and set a “positive” rating on the stock in a research report on Thursday, July 25th.

MaxLinear Price Performance

Shares of NYSE MXL opened at $15.18 on Friday. The company has a 50 day simple moving average of $17.08 and a two-hundred day simple moving average of $18.58. MaxLinear has a fifty-two week low of $11.08 and a fifty-two week high of $26.59. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -8.03 and a beta of 1.85. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.59 and a current ratio of 2.09.

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 company had revenue of $92.00 million for the quarter, compared to analysts’ expectations of $100.25 million. During the same quarter in the previous year, the firm posted $0.19 EPS. The firm’s quarterly revenue was down 50.0% compared to the same quarter last year. Analysts expect that MaxLinear will post -1.6 EPS for the current fiscal year.

Insider Buying and Selling at MaxLinear

In other news, CEO Kishore Seendripu purchased 108,303 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were purchased at an average cost of $12.94 per share, for a total transaction of $1,401,440.82. Following the purchase, the chief executive officer now directly owns 531,937 shares in the company, valued at approximately $6,883,264.78. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 8.60% of the company’s stock.

Institutional Trading of MaxLinear

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hood River Capital Management LLC purchased a new position in shares of MaxLinear during the 2nd quarter worth $24,184,000. Vanguard Group Inc. increased its position in MaxLinear by 8.5% in the fourth quarter. Vanguard Group Inc. now owns 11,586,273 shares of the semiconductor company’s stock worth $275,406,000 after buying an additional 903,235 shares in the last quarter. Millennium Management LLC raised its stake in shares of MaxLinear by 307.9% in the second quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company’s stock worth $21,039,000 after buying an additional 788,558 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of MaxLinear by 10.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,071,183 shares of the semiconductor company’s stock valued at $41,714,000 after buying an additional 192,021 shares in the last quarter. Finally, Comerica Bank lifted its holdings in MaxLinear by 472.6% during the first quarter. Comerica Bank now owns 194,405 shares of the semiconductor company’s stock valued at $3,630,000 after purchasing an additional 160,456 shares in the last quarter. 90.79% of the stock is owned by hedge funds and other institutional investors.

About MaxLinear

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.