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

MaxLinear (NYSE:MXL) was downgraded by Susquehanna from a “positive” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, FinViz reports. They currently have a $15.00 price target on the semiconductor company’s stock. Susquehanna’s price target would indicate a potential upside of 3.59% from the stock’s current price.

A number of other research firms have also issued reports on MXL. Benchmark dropped 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. Stifel Nicolaus boosted their price objective on shares of MaxLinear from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Craig Hallum cut their price objective on shares of MaxLinear from $38.00 to $28.00 and set a “hold” rating for the company in a research report on Thursday, July 25th. 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. Finally, Needham & Company LLC cut shares of MaxLinear from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, MaxLinear currently has a consensus rating of “Hold” and an average price target of $23.44.

MaxLinear Stock Down 4.7 %

Shares of NYSE:MXL opened at $14.48 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.09 and a quick ratio of 1.59. The stock has a market cap of $1.20 billion, a P/E ratio of -7.66 and a beta of 1.84. MaxLinear has a 1-year low of $11.08 and a 1-year high of $26.59. The firm has a fifty day moving average price of $13.91 and a 200 day moving average price of $17.83.

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

Insider Buying and Selling at MaxLinear

In other MaxLinear news, CEO Kishore Seendripu acquired 108,303 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were acquired at an average cost of $12.94 per share, for a total transaction of $1,401,440.82. Following the transaction, the chief executive officer now directly owns 531,937 shares of the company’s stock, valued at $6,883,264.78. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MaxLinear

A number of institutional investors and hedge funds have recently bought and sold shares of MXL. Hood River Capital Management LLC acquired a new position in MaxLinear in the 2nd quarter valued at about $24,184,000. Vanguard Group Inc. boosted its position in MaxLinear by 8.5% during the fourth quarter. Vanguard Group Inc. now owns 11,586,273 shares of the semiconductor company’s stock worth $275,406,000 after acquiring an additional 903,235 shares during the last quarter. Millennium Management LLC grew its stake in MaxLinear by 307.9% in the 2nd quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company’s stock worth $21,039,000 after acquiring an additional 788,558 shares during the period. Dimensional Fund Advisors LP raised its holdings in MaxLinear by 10.2% in 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 acquiring an additional 192,021 shares during the last quarter. Finally, Comerica Bank lifted its stake in shares of MaxLinear by 472.6% during the 1st quarter. Comerica Bank now owns 194,405 shares of the semiconductor company’s stock worth $3,630,000 after purchasing an additional 160,456 shares during the period. Hedge funds and other 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.