MaxLinear, Inc. (NYSE:MXL) Receives Average Recommendation of “Hold” from Analysts

MaxLinear, Inc. (NYSE:MXL) has been given a consensus recommendation of “Hold” by the ten research firms that are currently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $24.67.

Several analysts recently weighed in on the company. Benchmark dropped their price objective on MaxLinear from $28.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Craig Hallum decreased their price target on shares of MaxLinear from $38.00 to $28.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. Susquehanna lowered their price objective on shares of MaxLinear from $30.00 to $26.00 and set a “positive” rating for the company in a research 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. Finally, Needham & Company LLC cut MaxLinear from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th.

MaxLinear Price Performance

MXL stock opened at $15.20 on Wednesday. The company’s 50-day moving average price is $13.91 and its two-hundred day moving average price is $17.83. MaxLinear has a 12 month low of $11.08 and a 12 month high of $26.59. The company has a quick ratio of 1.59, a current ratio of 2.09 and a debt-to-equity ratio of 0.20. The firm has a market cap of $1.26 billion, a P/E ratio of -8.04 and a beta of 1.84.

MaxLinear (NYSE:MXL) last announced its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.06). MaxLinear had a negative net margin of 42.38% and a negative return on equity of 12.39%. The firm had revenue of $92.00 million during the quarter, compared to the consensus estimate of $100.25 million. During the same period last year, the business earned $0.19 earnings per share. The business’s revenue was down 50.0% compared to the same quarter last year. On average, analysts anticipate that MaxLinear will post -1.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Kishore Seendripu bought 108,303 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was acquired at an average price of $12.94 per share, with a total value of $1,401,440.82. Following the transaction, the chief executive officer now owns 531,937 shares of the company’s stock, valued at approximately $6,883,264.78. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 8.60% of the stock is owned by insiders.

Institutional Trading of MaxLinear

A number of large investors have recently bought and sold shares of MXL. Vanguard Group Inc. boosted its position in shares of MaxLinear by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 12,253,823 shares of the semiconductor company’s stock valued at $228,779,000 after purchasing an additional 667,550 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in MaxLinear by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 2,535,449 shares of the semiconductor company’s stock valued at $51,064,000 after buying an additional 128,585 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of MaxLinear by 10.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,071,183 shares of the semiconductor company’s stock worth $41,714,000 after buying an additional 192,021 shares in the last quarter. Hood River Capital Management LLC acquired a new stake in shares of MaxLinear during the 2nd quarter worth approximately $24,184,000. Finally, Millennium Management LLC increased its stake in shares of MaxLinear by 307.9% in the 2nd quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company’s stock valued at $21,039,000 after acquiring an additional 788,558 shares in the last quarter. 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.