Needham & Company LLC Lowers MaxLinear (NYSE:MXL) to Hold

MaxLinear (NYSE:MXL) was downgraded by equities research analysts at Needham & Company LLC from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, Marketbeat reports.

MXL has been the subject of several other research reports. Benchmark reissued a “buy” rating and issued a $28.00 target price on shares of MaxLinear in a research note on Tuesday, July 9th. Craig Hallum raised shares of MaxLinear from a “hold” rating to a “buy” rating and upped their price objective for the company from $20.00 to $38.00 in a research note on Wednesday, July 17th. Stifel Nicolaus lifted their target price 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. StockNews.com lowered MaxLinear from a “hold” rating to a “sell” rating in a research note on Thursday, April 25th. Finally, Northland Securities raised MaxLinear from a “market perform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $24.70.

MaxLinear Stock Down 8.9 %

MXL stock opened at $12.78 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.09 and a quick ratio of 1.56. The company’s 50 day simple moving average is $20.04 and its 200-day simple moving average is $20.09. MaxLinear has a 12 month low of $12.48 and a 12 month high of $26.59. The firm has a market capitalization of $1.06 billion, a PE ratio of -6.76 and a beta of 1.84.

MaxLinear (NYSE:MXL) last announced its 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). The company had revenue of $92.00 million for the quarter, compared to analyst estimates of $100.25 million. MaxLinear had a negative net margin of 42.38% and a negative return on equity of 12.39%. MaxLinear’s quarterly revenue was down 50.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.19 EPS. Equities analysts expect that MaxLinear will post -1.25 earnings per share for the current fiscal year.

Institutional Trading of MaxLinear

A number of hedge funds have recently made changes to their positions in MXL. Vanguard Group Inc. increased its stake in MaxLinear by 12.6% during the 3rd quarter. Vanguard Group Inc. now owns 10,683,038 shares of the semiconductor company’s stock worth $237,698,000 after buying an additional 1,199,257 shares during the period. SG Americas Securities LLC grew its stake in shares of MaxLinear by 16.5% during the fourth quarter. SG Americas Securities LLC now owns 39,406 shares of the semiconductor company’s stock valued at $937,000 after acquiring an additional 5,569 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of MaxLinear during the fourth quarter valued at about $7,553,000. International Assets Investment Management LLC increased its position in shares of MaxLinear by 2,277.0% during the fourth quarter. International Assets Investment Management LLC now owns 37,153 shares of the semiconductor company’s stock worth $883,000 after acquiring an additional 35,590 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of MaxLinear by 10.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,132 shares of the semiconductor company’s stock worth $835,000 after acquiring an additional 3,278 shares in 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.