Loop Capital Cuts MaxLinear (NASDAQ:MXL) Price Target to $10.00

MaxLinear (NASDAQ:MXL) had its target price trimmed by Loop Capital from $18.00 to $10.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a hold rating on the semiconductor company’s stock.

A number of other equities research analysts have also recently weighed in on MXL. Wells Fargo & Company upped their price objective on shares of MaxLinear from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Benchmark restated a “buy” rating and issued a $20.00 price target on shares of MaxLinear in a research note on Thursday, April 24th. Roth Capital set a $11.00 price objective on MaxLinear and gave the company a “neutral” rating in a research note on Thursday, April 24th. Stifel Nicolaus dropped their target price on MaxLinear from $26.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Finally, Susquehanna reduced their price target on MaxLinear from $25.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $19.06.

MaxLinear Trading Down 1.0 %

MXL opened at $10.05 on Tuesday. The stock has a market cap of $850.57 million, a PE ratio of -3.43 and a beta of 1.82. The business has a 50 day moving average of $11.83 and a 200-day moving average of $15.70. MaxLinear has a 52 week low of $8.35 and a 52 week high of $26.59. The company has a quick ratio of 1.28, a current ratio of 1.77 and a debt-to-equity ratio of 0.24.

MaxLinear (NASDAQ:MXL) last announced its earnings results on Wednesday, April 23rd. The semiconductor company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). The firm had revenue of $95.93 million for the quarter, compared to analysts’ expectations of $95.32 million. MaxLinear had a negative net margin of 68.01% and a negative return on equity of 21.94%. The company’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.21) EPS. Equities research analysts predict that MaxLinear will post -0.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MaxLinear

Several large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company increased its position in MaxLinear by 3,698.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,525,419 shares of the semiconductor company’s stock valued at $30,173,000 after acquiring an additional 1,485,256 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of MaxLinear during the 4th quarter valued at about $25,659,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of MaxLinear during the 4th quarter valued at about $25,027,000. Point72 Asset Management L.P. lifted its stake in shares of MaxLinear by 1,813.5% in the 4th quarter. Point72 Asset Management L.P. now owns 1,256,300 shares of the semiconductor company’s stock worth $24,850,000 after purchasing an additional 1,190,647 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of MaxLinear by 339.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,250,769 shares of the semiconductor company’s stock worth $24,740,000 after buying an additional 966,468 shares during the last quarter. 90.79% of the stock is currently owned by institutional investors.

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.