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

Shares of MaxLinear, Inc. (NYSE:MXL) have been given a consensus recommendation of “Hold” by the ten research firms that are presently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $24.67.

MXL has been the subject of several recent analyst reports. Needham & Company LLC lowered shares of MaxLinear from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Stifel Nicolaus boosted their price target on shares of MaxLinear from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Craig Hallum decreased their price objective on shares of MaxLinear from $38.00 to $28.00 and set a “hold” rating for the company in a research note on Thursday, July 25th. Susquehanna cut their target price on MaxLinear from $30.00 to $26.00 and set a “positive” rating on the stock in a research note on Thursday, July 25th. Finally, Benchmark decreased their price target on MaxLinear from $28.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, July 25th.

MaxLinear Trading Down 0.7 %

MXL opened at $15.20 on Wednesday. The firm has a market capitalization of $1.26 billion, a PE ratio of -8.04 and a beta of 1.84. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.09 and a quick ratio of 1.59. MaxLinear has a fifty-two week low of $11.08 and a fifty-two week high of $26.59. The company’s 50-day moving average is $13.91 and its 200 day moving average is $17.83.

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

Insiders Place Their Bets

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 price of $12.94 per share, with a total value 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 is available through the SEC website. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On MaxLinear

Several institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC bought a new stake in shares of MaxLinear in the first quarter valued at approximately $27,000. Innealta Capital LLC bought a new stake in MaxLinear during the 2nd quarter valued at $30,000. International Assets Investment Management LLC purchased a new stake in shares of MaxLinear during the second quarter worth $31,000. Canada Pension Plan Investment Board purchased a new stake in shares of MaxLinear during the second quarter worth $56,000. Finally, EntryPoint Capital LLC bought a new position in shares of MaxLinear in the first quarter worth $59,000. 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.