MaxLinear (NYSE:MXL) Lowered to Neutral at Susquehanna

Susquehanna downgraded shares of MaxLinear (NYSE:MXL) from a positive rating to a neutral rating in a research note released on Tuesday morning, MarketBeat reports. They currently have $15.00 target price on the semiconductor company’s stock, down from their previous target price of $26.00.

Other equities research analysts have also recently issued research reports about the company. Benchmark cut their target price on MaxLinear from $28.00 to $22.00 and set a buy rating on the stock in a research note on Thursday, July 25th. Northland Securities reduced their target price on shares of MaxLinear from $30.00 to $25.00 and set an outperform rating for the company in a report on Thursday, July 25th. Stifel Nicolaus raised their target price on shares of MaxLinear from $26.00 to $30.00 and gave the company a buy rating in a research report on Thursday, July 18th. Needham & Company LLC cut shares of MaxLinear from a buy rating to a hold rating in a research report on Thursday, July 25th. Finally, Craig Hallum decreased their price objective on MaxLinear from $38.00 to $28.00 and set a hold rating for the company in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, MaxLinear presently has an average rating of Hold and an average target price of $23.44.

MaxLinear Stock Performance

Shares of NYSE:MXL opened at $13.42 on Tuesday. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -7.10 and a beta of 1.83. MaxLinear has a 12 month low of $11.08 and a 12 month high of $26.59. The company’s fifty day simple moving average is $13.30 and its 200 day simple moving average is $17.68. The company has a quick ratio of 1.59, a current ratio of 2.09 and a debt-to-equity ratio of 0.20.

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 the consensus estimate of ($0.19) by ($0.06). The firm had revenue of $92.00 million during the quarter, compared to analyst estimates of $100.25 million. MaxLinear had a negative net margin of 42.38% and a negative return on equity of 12.39%. The business’s revenue for the quarter was down 50.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.19 EPS. As a group, research analysts forecast that MaxLinear will post -1.6 EPS for the current fiscal year.

Insider Buying and Selling

In other MaxLinear news, CEO Kishore Seendripu acquired 108,303 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were purchased at an average price of $12.94 per share, for a total transaction of $1,401,440.82. Following the completion of the purchase, the chief executive officer now directly owns 531,937 shares of the company’s stock, valued at approximately $6,883,264.78. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MaxLinear

Several institutional investors and hedge funds have recently modified their holdings of MXL. Headlands Technologies LLC acquired a new stake in shares of MaxLinear during the 1st quarter worth about $27,000. Innealta Capital LLC bought a new position in MaxLinear in the 2nd quarter valued at about $30,000. International Assets Investment Management LLC bought a new position in MaxLinear in the 2nd quarter valued at about $31,000. Canada Pension Plan Investment Board acquired a new stake in MaxLinear during the second quarter worth approximately $56,000. Finally, EntryPoint Capital LLC bought a new stake in shares of MaxLinear during the first quarter worth approximately $59,000. 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.