Susquehanna Lowers MaxLinear (NASDAQ:MXL) Price Target to $23.00

MaxLinear (NASDAQ:MXL) had its price objective lowered by Susquehanna from $25.00 to $23.00 in a report published on Thursday,Benzinga reports. Susquehanna currently has a neutral rating on the semiconductor company’s stock.

Several other analysts have also issued reports on the company. Craig Hallum dropped their target price on MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Needham & Company LLC reiterated a “hold” rating on shares of MaxLinear in a research note on Thursday. Wells Fargo & Company lifted their target price on MaxLinear from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Thursday. Benchmark boosted their price target on MaxLinear from $22.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Northland Securities raised their target price on shares of MaxLinear from $25.00 to $27.50 and gave the company an “outperform” rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, MaxLinear has a consensus rating of “Hold” and an average price target of $25.50.

MaxLinear Stock Down 19.8 %

MXL stock opened at $17.47 on Thursday. MaxLinear has a 1-year low of $11.08 and a 1-year high of $26.59. The company has a current ratio of 1.95, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22. The business’s 50-day moving average price is $19.80 and its two-hundred day moving average price is $16.44.

MaxLinear (NASDAQ:MXL) last announced its earnings results on Wednesday, January 29th. The semiconductor company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.14). MaxLinear had a negative return on equity of 21.15% and a negative net margin of 68.01%. On average, research analysts expect that MaxLinear will post -0.21 earnings per share for the current year.

Insider Activity

In related news, insider Steven G. Litchfield sold 32,000 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $20.35, for a total transaction of $651,200.00. Following the sale, the insider now owns 365,868 shares in the company, valued at $7,445,413.80. This represents a 8.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP William Torgerson sold 6,100 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $15.40, for a total transaction of $93,940.00. Following the completion of the sale, the vice president now owns 179,262 shares of the company’s stock, valued at $2,760,634.80. The trade was a 3.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,900 shares of company stock worth $927,278. Insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On MaxLinear

Several hedge funds and other institutional investors have recently modified their holdings of MXL. State Street Corp grew its holdings in MaxLinear by 5.1% during 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 lifted its stake in MaxLinear by 0.4% in the third 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 last quarter. Vaughan Nelson Investment Management L.P. grew its stake 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 worth $25,098,000 after acquiring an additional 115,867 shares during the period. Assenagon Asset Management S.A. increased its stake 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 in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in MaxLinear by 36.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,089,065 shares of the semiconductor company’s stock valued at $15,770,000 after acquiring an additional 291,874 shares during the period. Institutional investors own 90.79% of the company’s stock.

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.