MaxLinear (NYSE:MXL) Price Target Lowered to $26.00 at Susquehanna

MaxLinear (NYSE:MXL) had its price target cut by Susquehanna from $30.00 to $26.00 in a report issued on Thursday, Benzinga reports. They currently have a positive rating on the semiconductor company’s stock.

Several other research firms have also recently weighed in on MXL. Benchmark reduced their price target on shares of MaxLinear from $28.00 to $22.00 and set a buy rating for the company in a report on Thursday. Needham & Company LLC lowered shares of MaxLinear from a buy rating to a hold rating in a research note on Thursday. Northland Securities raised MaxLinear from a market perform rating to an outperform rating and set a $30.00 price target on the stock in a research note on Thursday, April 4th. Stifel Nicolaus boosted their price target on MaxLinear from $26.00 to $30.00 and gave the company a buy rating in a report on Thursday, July 18th. Finally, StockNews.com downgraded MaxLinear from a hold rating to a sell rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $24.70.

MaxLinear Stock Performance

MXL stock opened at $12.77 on Thursday. MaxLinear has a 1-year low of $12.48 and a 1-year high of $26.59. The company has a current ratio of 2.09, a quick ratio of 1.56 and a debt-to-equity ratio of 0.20. The firm has a market cap of $1.06 billion, a PE ratio of -6.76 and a beta of 1.84. The business’s 50-day moving average price is $19.91 and its two-hundred day moving average price is $20.00.

MaxLinear (NYSE:MXL) last released its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported ($0.25) 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 business had revenue of $92.00 million for the quarter, compared to analyst estimates of $100.25 million. During the same period in the prior year, the business earned $0.19 EPS. The company’s revenue for the quarter was down 50.0% compared to the same quarter last year. As a group, research analysts forecast that MaxLinear will post -1.25 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC boosted its holdings in shares of MaxLinear by 8.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,310 shares of the semiconductor company’s stock valued at $150,000 after buying an additional 490 shares during the last quarter. Simplicity Wealth LLC lifted its stake in MaxLinear by 3.1% in the second quarter. Simplicity Wealth LLC now owns 19,283 shares of the semiconductor company’s stock valued at $388,000 after acquiring an additional 579 shares during the last quarter. New York State Common Retirement Fund grew its position in shares of MaxLinear by 2.8% in the 4th quarter. New York State Common Retirement Fund now owns 31,045 shares of the semiconductor company’s stock valued at $738,000 after acquiring an additional 840 shares during the period. ProShare Advisors LLC increased its stake in shares of MaxLinear by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 15,304 shares of the semiconductor company’s stock worth $286,000 after purchasing an additional 1,061 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in shares of MaxLinear by 3.0% in 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 period. Institutional investors and hedge funds 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.