Needham & Company LLC Reaffirms “Hold” Rating for MaxLinear (NASDAQ:MXL)

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

Other research analysts also recently issued reports about the company. Susquehanna downgraded MaxLinear from a “positive” rating to a “neutral” rating and decreased their price target for the company from $26.00 to $15.00 in a report on Tuesday, October 1st. Craig Hallum reduced their price objective on MaxLinear from $38.00 to $28.00 and set a “hold” rating for the company in a research note on Thursday, July 25th. Northland Securities reduced their target price on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Benchmark reaffirmed a “buy” rating and issued a $22.00 target price on shares of MaxLinear in a research report on Thursday. Finally, Stifel Nicolaus raised 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $23.86.

MaxLinear Stock Down 1.6 %

Shares of MXL opened at $14.85 on Thursday. The company has a quick ratio of 1.59, a current ratio of 2.09 and a debt-to-equity ratio of 0.20. The business has a fifty day moving average of $13.87 and a 200 day moving average of $17.07. MaxLinear has a 52-week low of $11.08 and a 52-week high of $26.59. The company has a market cap of $1.25 billion, a PE ratio of -6.43 and a beta of 1.83.

MaxLinear (NASDAQ:MXL) last posted its earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $81.10 million for the quarter, compared to analysts’ expectations of $80.40 million. During the same quarter in the prior year, the company earned ($0.02) EPS. The firm’s quarterly revenue was down 40.2% on a year-over-year basis. On average, sell-side analysts expect that MaxLinear will post -1.74 EPS for the current year.

Insider Buying and Selling at MaxLinear

In related news, CEO Kishore Seendripu bought 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, 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 approximately $6,883,264.78. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 8.60% of the company’s stock.

Institutional Trading of MaxLinear

A number of hedge funds have recently made changes to their positions in MXL. Nisa Investment Advisors LLC increased its stake in MaxLinear by 20.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 7,761 shares of the semiconductor company’s stock worth $112,000 after buying an additional 1,308 shares during the period. Assenagon Asset Management S.A. boosted its position in MaxLinear by 2.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 284,301 shares of the semiconductor company’s stock valued at $4,117,000 after buying an additional 5,705 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of MaxLinear by 1,348.0% during the third quarter. International Assets Investment Management LLC now owns 22,632 shares of the semiconductor company’s stock valued at $328,000 after acquiring an additional 21,069 shares in the last quarter. Inspire Investing LLC increased its position in shares of MaxLinear by 62.8% during the third quarter. Inspire Investing LLC now owns 28,366 shares of the semiconductor company’s stock worth $411,000 after acquiring an additional 10,947 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of MaxLinear by 321.3% in the third quarter. CWM LLC now owns 5,793 shares of the semiconductor company’s stock worth $84,000 after acquiring an additional 4,418 shares in the last quarter. 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.