MaxLinear (NASDAQ:MXL) Rating Reiterated by Needham & Company LLC

MaxLinear (NASDAQ:MXL)‘s stock had its “hold” rating reissued by stock analysts at Needham & Company LLC in a note issued to investors on Thursday, Benzinga reports.

A number of other brokerages have also issued reports on MXL. Northland Securities decreased their target price on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Susquehanna cut MaxLinear from a “positive” rating to a “neutral” rating and decreased their price objective for the stock from $26.00 to $15.00 in a report on Tuesday, October 1st. Stifel Nicolaus upped their target price on MaxLinear from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Benchmark reissued a “buy” rating and issued a $22.00 price target on shares of MaxLinear in a research note on Thursday. Finally, Craig Hallum lowered their price target on MaxLinear from $38.00 to $28.00 and set a “hold” rating for the company in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $23.13.

MaxLinear Stock Down 1.6 %

Shares of NASDAQ: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 company has a market capitalization of $1.25 billion, a P/E ratio of -6.43 and a beta of 1.83. MaxLinear has a 52-week low of $11.08 and a 52-week high of $26.59. The stock’s fifty day simple moving average is $13.87 and its 200-day simple moving average is $17.11.

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

Insider Transactions at MaxLinear

In other MaxLinear news, CEO Kishore Seendripu purchased 108,303 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The shares were purchased at an average price of $12.94 per share, for a total transaction of $1,401,440.82. Following the completion of the acquisition, the chief executive officer now owns 531,937 shares of the company’s stock, valued at approximately $6,883,264.78. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On MaxLinear

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