MaxLinear (NYSE:MXL) Rating Lowered to Neutral at Susquehanna

MaxLinear (NYSE:MXL) was downgraded by stock analysts at Susquehanna from a “positive” rating to a “neutral” rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports. They presently have a $15.00 target price on the semiconductor company’s stock, down from their previous target price of $26.00. Susquehanna’s price target points to a potential upside of 11.61% from the stock’s current price.

Several other brokerages have also weighed in on MXL. Craig Hallum lowered their target price on shares of MaxLinear from $38.00 to $28.00 and set a “hold” rating on the stock in a research report on Thursday, July 25th. Benchmark lowered their price target on MaxLinear from $28.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Needham & Company LLC downgraded MaxLinear from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Stifel Nicolaus boosted their target price on MaxLinear from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, Northland Securities dropped their price target on MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, MaxLinear presently has a consensus rating of “Hold” and an average target price of $23.44.

MaxLinear Stock Up 5.6 %

MXL opened at $13.44 on Tuesday. The business has a 50 day simple moving average of $13.48 and a 200-day simple moving average of $17.77. MaxLinear has a 12 month low of $11.08 and a 12 month high of $26.59. The stock has a market capitalization of $1.12 billion, a P/E ratio of -7.11 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 (NYSE:MXL) last released its earnings results 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 business 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. MaxLinear’s revenue was down 50.0% compared to the same quarter last year. On average, equities analysts anticipate that MaxLinear will post -1.6 earnings per share for the current fiscal year.

Insider Transactions at MaxLinear

In related news, CEO Kishore Seendripu acquired 108,303 shares of MaxLinear stock in a transaction dated Tuesday, July 30th. The shares were acquired at an average cost of $12.94 per share, for a total transaction of $1,401,440.82. Following the completion of the transaction, the chief executive officer now directly owns 531,937 shares of the company’s stock, valued at $6,883,264.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On MaxLinear

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of MaxLinear by 5.8% in the first quarter. Vanguard Group Inc. now owns 12,253,823 shares of the semiconductor company’s stock valued at $228,779,000 after purchasing an additional 667,550 shares during the period. Bank of New York Mellon Corp boosted its stake 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 buying an additional 128,585 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in MaxLinear by 10.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,071,183 shares of the semiconductor company’s stock valued at $41,714,000 after buying an additional 192,021 shares during the period. Hood River Capital Management LLC acquired a new position in shares of MaxLinear during the 2nd quarter valued at about $24,184,000. Finally, Millennium Management LLC increased its stake in shares of MaxLinear by 307.9% during the 2nd quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company’s stock valued at $21,039,000 after acquiring an additional 788,558 shares during the last quarter. Institutional investors and hedge funds 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.