Susquehanna Cuts MaxLinear (NYSE:MXL) Price Target to $26.00

MaxLinear (NYSE:MXL) had its target price reduced by Susquehanna from $30.00 to $26.00 in a report published on Thursday morning, Benzinga reports. They currently have a positive rating on the semiconductor company’s stock.

Several other equities research analysts also recently commented on the stock. StockNews.com downgraded shares of MaxLinear from a hold rating to a sell rating in a research report on Thursday, April 25th. Northland Securities upgraded MaxLinear from a market perform rating to an outperform rating and set a $30.00 target price on the stock in a report on Thursday, April 4th. Stifel Nicolaus upped their price target on MaxLinear from $26.00 to $30.00 and gave the stock a buy rating in a report on Thursday, July 18th. Craig Hallum raised shares of MaxLinear from a hold rating to a buy rating and lifted their price objective for the stock from $20.00 to $38.00 in a report on Wednesday, July 17th. Finally, Needham & Company LLC downgraded shares of MaxLinear from a buy rating to a hold rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $24.70.

MaxLinear Stock Performance

Shares of MXL opened at $12.78 on Thursday. MaxLinear has a one year low of $12.48 and a one year high of $26.59. The company has a market cap of $1.06 billion, a PE ratio of -6.76 and a beta of 1.84. The stock has a 50-day moving average of $19.91 and a 200-day moving average of $20.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.09 and a quick ratio of 1.56.

MaxLinear (NYSE:MXL) last announced its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.06). MaxLinear had a negative net margin of 42.38% and a negative return on equity of 12.39%. The firm had revenue of $92.00 million during the quarter, compared to analyst estimates of $100.25 million. During the same period last year, the business posted $0.19 EPS. The company’s revenue was down 50.0% on a year-over-year basis. On average, equities research analysts predict that MaxLinear will post -1.25 EPS for the current fiscal year.

Institutional Investors Weigh In On MaxLinear

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in MaxLinear by 5.8% in the first quarter. Vanguard Group Inc. now owns 12,253,823 shares of the semiconductor company’s stock worth $228,779,000 after buying an additional 667,550 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in MaxLinear by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,535,449 shares of the semiconductor company’s stock worth $51,064,000 after acquiring an additional 128,585 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in MaxLinear by 7.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,912,731 shares of the semiconductor company’s stock valued at $45,469,000 after acquiring an additional 137,698 shares during the period. Jennison Associates LLC lifted its holdings in MaxLinear by 2.7% during the first quarter. Jennison Associates LLC now owns 533,416 shares of the semiconductor company’s stock valued at $9,959,000 after purchasing an additional 14,111 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in MaxLinear by 9.2% during the first quarter. Assenagon Asset Management S.A. now owns 346,873 shares of the semiconductor company’s stock valued at $6,476,000 after purchasing an additional 29,102 shares during the last quarter. 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.