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

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

A number of other equities research analysts have also recently issued reports on MXL. Northland Securities reduced their price objective on MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Stifel Nicolaus boosted their price target on MaxLinear from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Needham & Company LLC reiterated a “hold” rating on shares of MaxLinear in a research report on Thursday. Benchmark reissued a “buy” rating and issued a $22.00 target price on shares of MaxLinear in a research report on Thursday. Finally, Susquehanna lowered shares of MaxLinear from a “positive” rating to a “neutral” rating and lowered their price target for the stock from $26.00 to $15.00 in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, MaxLinear presently has an average rating of “Hold” and a consensus price target of $23.86.

MaxLinear Stock Down 1.6 %

MXL stock opened at $14.85 on Thursday. MaxLinear has a 1-year low of $11.08 and a 1-year high of $26.59. The business’s 50 day simple moving average is $13.87 and its 200 day simple moving average is $17.03. 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 firm has a market capitalization of $1.25 billion, a PE ratio of -6.43 and a beta of 1.83.

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

Insider Buying and Selling

In other news, CEO Kishore Seendripu bought 108,303 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was bought 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 owns 531,937 shares of the company’s stock, valued at $6,883,264.78. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MaxLinear

Hedge funds and other institutional investors have recently modified their holdings of the business. Headlands Technologies LLC bought a new stake in shares of MaxLinear during the 1st quarter valued at approximately $27,000. Innealta Capital LLC acquired a new stake in MaxLinear in the second quarter valued at approximately $30,000. International Assets Investment Management LLC bought a new stake in shares of MaxLinear during the second quarter worth $31,000. GAMMA Investing LLC increased its holdings in shares of MaxLinear by 151.8% during the third quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock worth $50,000 after buying an additional 2,093 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of MaxLinear in the 2nd quarter valued at $56,000. Institutional investors own 90.79% of the company’s stock.

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.