MaxLinear (NASDAQ:MXL) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of MaxLinear (NASDAQ:MXL) in a research note released on Thursday, Benzinga reports.

Several other equities research analysts have also recently weighed in on MXL. Northland Securities lowered 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. Benchmark restated a “buy” rating and set a $22.00 target price on shares of MaxLinear in a report on Thursday. Craig Hallum cut their price target on MaxLinear from $38.00 to $28.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. Stifel Nicolaus upped their price objective on MaxLinear from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Susquehanna downgraded MaxLinear from a “positive” rating to a “neutral” rating and dropped their price objective for the company from $26.00 to $15.00 in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, MaxLinear has an average rating of “Hold” and an average target price of $23.86.

MaxLinear Trading Down 1.6 %

MXL opened at $14.85 on Thursday. MaxLinear has a 12 month low of $11.08 and a 12 month high of $26.59. The company has a current ratio of 2.09, a quick ratio of 1.59 and a debt-to-equity ratio of 0.20. The stock has a 50-day moving average of $13.87 and a 200 day moving average of $17.03. The firm has a market cap of $1.25 billion, a P/E ratio of -6.43 and a beta of 1.83.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.04). MaxLinear had a negative return on equity of 12.39% and a negative net margin of 42.38%. The firm 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 business earned ($0.02) EPS. The firm’s revenue for the quarter was down 40.2% on a year-over-year basis. As a group, research analysts forecast that MaxLinear will post -1.74 EPS for the current year.

Insider Transactions at MaxLinear

In related news, CEO Kishore Seendripu acquired 108,303 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were 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 owns 531,937 shares of the company’s stock, valued at $6,883,264.78. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On MaxLinear

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC acquired a new position in MaxLinear in the first quarter valued at $27,000. Innealta Capital LLC acquired a new position in MaxLinear in the 2nd quarter valued at about $30,000. International Assets Investment Management LLC acquired a new position in MaxLinear in the 2nd quarter valued at about $31,000. GAMMA Investing LLC raised its stake in MaxLinear by 151.8% during the 3rd quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 2,093 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in MaxLinear during the 2nd quarter worth approximately $56,000. Institutional investors and hedge funds 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.