StockNews.com Lowers MaxLinear (NYSE:MXL) to Sell

StockNews.com lowered shares of MaxLinear (NYSE:MXL) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

A number of other analysts also recently issued reports on the company. Wells Fargo & Company downgraded MaxLinear from an overweight rating to an equal weight rating and cut their price objective for the stock from $35.00 to $25.00 in a research report on Wednesday, January 3rd. Needham & Company LLC restated a buy rating and set a $25.00 target price on shares of MaxLinear in a report on Thursday. Benchmark restated a buy rating and set a $28.00 target price on shares of MaxLinear in a report on Thursday. Finally, Northland Securities upgraded MaxLinear from a market perform rating to an outperform rating and set a $30.00 target price for the company in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $26.09.

MaxLinear Stock Down 1.2 %

Shares of NYSE:MXL opened at $20.68 on Thursday. The business has a 50-day moving average price of $19.90 and a 200 day moving average price of $19.95. The company has a current ratio of 2.20, a quick ratio of 1.75 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of -10.94 and a beta of 1.98. MaxLinear has a 12-month low of $13.43 and a 12-month high of $35.09.

MaxLinear (NYSE:MXL) last issued its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.02. The firm had revenue of $95.27 million during the quarter, compared to the consensus estimate of $94.99 million. MaxLinear had a negative return on equity of 4.63% and a negative net margin of 28.70%. Sell-side analysts expect that MaxLinear will post -0.8 EPS for the current year.

Hedge Funds Weigh In On MaxLinear

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC lifted its stake in MaxLinear by 712.8% during the third quarter. CWM LLC now owns 2,292 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 2,010 shares during the last quarter. SG Americas Securities LLC lifted its stake in MaxLinear by 659.9% during the third quarter. SG Americas Securities LLC now owns 33,837 shares of the semiconductor company’s stock worth $753,000 after purchasing an additional 29,384 shares during the last quarter. Simplicity Solutions LLC lifted its stake in MaxLinear by 523.2% during the third quarter. Simplicity Solutions LLC now owns 42,735 shares of the semiconductor company’s stock worth $951,000 after purchasing an additional 35,878 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in MaxLinear during the third quarter worth approximately $273,000. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its stake in MaxLinear by 27.2% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 4,029 shares of the semiconductor company’s stock worth $90,000 after purchasing an additional 862 shares during the last quarter. Hedge funds and other 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.