MaxLinear, Inc. (NYSE:MXL) Given Average Recommendation of “Hold” by Brokerages

MaxLinear, Inc. (NYSE:MXL) has been assigned a consensus recommendation of “Hold” from the ten brokerages that are currently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $23.44.

MXL has been the subject of several research analyst reports. Needham & Company LLC downgraded MaxLinear from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Susquehanna downgraded MaxLinear from a “positive” rating to a “neutral” rating and reduced their target price for the stock from $26.00 to $15.00 in a research note on Tuesday. Stifel Nicolaus upped their target price on MaxLinear from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Craig Hallum reduced their price objective on MaxLinear from $38.00 to $28.00 and set a “hold” rating for the company in a research note on Thursday, July 25th. Finally, Benchmark reduced their price objective on MaxLinear from $28.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, July 25th.

MaxLinear Trading Down 12.1 %

MaxLinear stock opened at $12.73 on Wednesday. The company has a current ratio of 2.09, a quick ratio of 1.59 and a debt-to-equity ratio of 0.20. The firm has a market cap of $1.06 billion, a PE ratio of -6.74 and a beta of 1.84. The stock’s 50 day simple moving average is $13.69 and its two-hundred day simple moving average is $17.80. MaxLinear has a 12 month low of $11.08 and a 12 month high of $26.59.

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

Insiders Place Their Bets

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

Institutional Trading of MaxLinear

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cavalry Management Group LLC acquired a new stake in shares of MaxLinear in the 2nd quarter worth $413,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of MaxLinear by 44.5% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 166,200 shares of the semiconductor company’s stock worth $3,347,000 after purchasing an additional 51,200 shares during the period. Point72 Asset Management L.P. grew its holdings in shares of MaxLinear by 405.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 174,764 shares of the semiconductor company’s stock worth $3,520,000 after purchasing an additional 140,164 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of MaxLinear by 8.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,651 shares of the semiconductor company’s stock worth $819,000 after purchasing an additional 3,052 shares during the period. Finally, Millennium Management LLC grew its holdings in shares of MaxLinear by 307.9% during the 2nd quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company’s stock worth $21,039,000 after purchasing an additional 788,558 shares during the period. 90.79% of the stock is owned by institutional investors and hedge funds.

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.