MaxLinear (NYSE:MXL) Given Hold Rating at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of MaxLinear (NYSE:MXL) in a research report report published on Thursday, Benzinga reports.

Several other brokerages have also recently weighed in on MXL. Stifel Nicolaus upped their price objective on shares of MaxLinear from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Susquehanna lowered MaxLinear from a “positive” rating to a “neutral” rating and lowered their target price for the company from $26.00 to $15.00 in a research note on Tuesday, October 1st. Northland Securities reduced their price target on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Benchmark restated a “buy” rating and issued a $22.00 price objective on shares of MaxLinear in a research report on Thursday. Finally, Craig Hallum reduced 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $23.13.

MaxLinear Trading Down 0.1 %

Shares of MXL stock traded down $0.02 during trading hours on Thursday, reaching $15.07. 174,477 shares of the company’s stock were exchanged, compared to its average volume of 944,453. The business has a fifty day moving average price of $13.83 and a 200-day moving average price of $17.17. 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 has a fifty-two week low of $11.08 and a fifty-two week high of $26.59.

MaxLinear (NYSE:MXL) last issued its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). The company had revenue of $81.10 million during the quarter, compared to the consensus estimate of $80.40 million. MaxLinear had a negative net margin of 42.38% and a negative return on equity of 12.39%. During the same period last year, the company earned ($0.02) earnings per share. MaxLinear’s revenue for the quarter was down 40.2% on a year-over-year basis. On average, equities analysts predict that MaxLinear will post -1.74 earnings per share for the current year.

Insider Activity

In related news, CEO Kishore Seendripu purchased 108,303 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was purchased at an average cost of $12.94 per share, with a total value of $1,401,440.82. Following the completion of the acquisition, the chief executive officer now directly owns 531,937 shares of the company’s stock, valued at approximately $6,883,264.78. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Simplicity Wealth LLC lifted its holdings in shares of MaxLinear by 3.1% in the second quarter. Simplicity Wealth LLC now owns 19,283 shares of the semiconductor company’s stock worth $388,000 after buying an additional 579 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of MaxLinear by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 15,304 shares of the semiconductor company’s stock valued at $286,000 after purchasing an additional 1,061 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of MaxLinear by 3.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 38,000 shares of the semiconductor company’s stock valued at $765,000 after purchasing an additional 1,100 shares during the last quarter. Swiss National Bank raised its position in MaxLinear by 0.9% in the 1st quarter. Swiss National Bank now owns 152,973 shares of the semiconductor company’s stock worth $2,856,000 after purchasing an additional 1,300 shares during the period. Finally, Nisa Investment Advisors LLC lifted its stake in MaxLinear by 20.3% in the third quarter. Nisa Investment Advisors LLC now owns 7,761 shares of the semiconductor company’s stock worth $112,000 after purchasing an additional 1,308 shares during the last quarter. Institutional investors 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.