MaxLinear (NYSE:MXL) Price Target Lowered to $25.00 at Craig Hallum

MaxLinear (NYSE:MXL) had its price objective lowered by analysts at Craig Hallum from $28.00 to $25.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Craig Hallum’s price objective would indicate a potential upside of 63.29% from the stock’s current price.

A number of other equities analysts have also issued reports on MXL. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a report on Thursday. Northland Securities lowered their price objective on MaxLinear from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Susquehanna lowered MaxLinear from a “positive” rating to a “neutral” rating and lowered their price objective for the company from $26.00 to $15.00 in a report on Tuesday, October 1st. Benchmark reaffirmed a “buy” rating and issued a $22.00 price objective on shares of MaxLinear in a report on Thursday. Finally, Stifel Nicolaus lifted their price objective on MaxLinear from $26.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $23.13.

MaxLinear Stock Performance

Shares of MXL traded up $0.44 during midday trading on Thursday, reaching $15.31. 3,364,097 shares of the stock were exchanged, compared to its average volume of 941,436. The business’s 50-day moving average price is $13.77 and its 200 day moving average price is $17.19. 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 twelve month low of $11.08 and a twelve month high of $26.59. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -8.10 and a beta of 1.83.

MaxLinear (NYSE:MXL) last released its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.06). MaxLinear had a negative return on equity of 12.39% and a negative net margin of 42.38%. The company had revenue of $92.00 million for the quarter, compared to analysts’ expectations of $100.25 million. During the same period in the prior year, the business earned $0.19 EPS. The business’s quarterly revenue was down 50.0% compared to the same quarter last year. On average, sell-side analysts expect that MaxLinear will post -1.74 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Kishore Seendripu acquired 108,303 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was purchased at an average cost of $12.94 per share, for a total transaction 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 approximately $6,883,264.78. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Hood River Capital Management LLC acquired a new position in MaxLinear in the 2nd quarter valued at $24,184,000. Vanguard Group Inc. boosted its position in MaxLinear by 8.5% during the 4th quarter. Vanguard Group Inc. now owns 11,586,273 shares of the semiconductor company’s stock worth $275,406,000 after purchasing an additional 903,235 shares during the period. Millennium Management LLC boosted its position in MaxLinear by 307.9% during the 2nd quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company’s stock worth $21,039,000 after purchasing an additional 788,558 shares during the period. Dimensional Fund Advisors LP boosted its position 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 last quarter. Finally, Comerica Bank boosted its position in MaxLinear by 472.6% in the 1st quarter. Comerica Bank now owns 194,405 shares of the semiconductor company’s stock valued at $3,630,000 after buying an additional 160,456 shares during the last quarter. 90.79% of the stock is currently owned by institutional investors and hedge funds.

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.