MaxLinear (NASDAQ:MXL) Price Target Cut to $23.00 by Analysts at Susquehanna

MaxLinear (NASDAQ:MXL) had its price objective reduced by research analysts at Susquehanna from $25.00 to $23.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. Susquehanna’s price objective indicates a potential upside of 20.98% from the company’s current price.

MXL has been the subject of a number of other reports. Craig Hallum decreased their target price on MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Benchmark boosted their price objective on MaxLinear from $22.00 to $28.00 and gave the company a “buy” rating in a report on Monday, December 9th. Wells Fargo & Company increased their target price on MaxLinear from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Thursday. Northland Securities upped their price objective on shares of MaxLinear from $25.00 to $27.50 and gave the stock an “outperform” rating in a report on Monday, January 6th. Finally, Needham & Company LLC restated a “hold” rating on shares of MaxLinear in a report on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $25.50.

MaxLinear Trading Down 12.7 %

Shares of MaxLinear stock traded down $2.78 on Thursday, hitting $19.01. 1,018,646 shares of the company’s stock traded hands, compared to its average volume of 1,828,377. The company has a fifty day moving average of $19.77 and a two-hundred day moving average of $16.43. MaxLinear has a one year low of $11.08 and a one year high of $26.59. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -7.03 and a beta of 1.79. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.95 and a quick ratio of 1.38.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.14). MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%. As a group, sell-side analysts expect that MaxLinear will post -1.66 earnings per share for the current year.

Insider Transactions at MaxLinear

In related news, insider Steven G. Litchfield sold 32,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $20.35, for a total value of $651,200.00. Following the sale, the insider now directly owns 365,868 shares in the company, valued at approximately $7,445,413.80. The trade was a 8.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ted L. Tewksbury III sold 5,800 shares of MaxLinear stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $15.36, for a total transaction of $89,088.00. Following the completion of the transaction, the director now owns 69,717 shares of the company’s stock, valued at $1,070,853.12. The trade was a 7.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,900 shares of company stock worth $927,278 in the last 90 days. Insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. State Street Corp lifted its holdings in shares of MaxLinear by 5.1% in the third quarter. State Street Corp now owns 4,123,419 shares of the semiconductor company’s stock worth $59,707,000 after buying an additional 198,791 shares in the last quarter. Geode Capital Management LLC boosted its holdings in MaxLinear by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,805,722 shares of the semiconductor company’s stock valued at $26,152,000 after purchasing an additional 6,420 shares during the period. Vaughan Nelson Investment Management L.P. grew its position in shares of MaxLinear by 10.0% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,268,857 shares of the semiconductor company’s stock valued at $25,098,000 after purchasing an additional 115,867 shares in the last quarter. Assenagon Asset Management S.A. increased 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 purchasing an additional 966,468 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of MaxLinear by 36.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,089,065 shares of the semiconductor company’s stock worth $15,770,000 after buying an additional 291,874 shares in the last quarter. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

About MaxLinear

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.