MaxLinear (MXL) Price Target Cut to $20.00 by Analysts at Needham & Company LLC

MaxLinear (NYSE:MXL) had its price objective reduced by Needham & Company LLC from $22.00 to $20.00 in a research note released on Wednesday, MarketBeat Ratings reports. Needham & Company LLC currently has a buy rating on the semiconductor company’s stock.

Several other analysts have also recently weighed in on the company. Zacks Investment Research raised MaxLinear from a sell rating to a hold rating in a report on Wednesday, April 18th. Roth Capital reissued a neutral rating and set a $20.00 price target (down from $27.00) on shares of MaxLinear in a report on Monday, June 11th. William Blair initiated coverage on MaxLinear in a report on Monday, June 4th. They set an outperform rating for the company. Deutsche Bank cut MaxLinear from a buy rating to a hold rating and set a $30.00 price target for the company. in a report on Wednesday, May 9th. Finally, Stifel Nicolaus dropped their price target on MaxLinear from $31.00 to $25.00 and set a $17.41 rating for the company in a report on Thursday, July 19th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. MaxLinear presently has a consensus rating of Hold and an average price target of $25.00.

NYSE:MXL traded up $0.10 during mid-day trading on Wednesday, hitting $18.40. 1,037,075 shares of the stock were exchanged, compared to its average volume of 929,096. The stock has a market cap of $1.25 billion, a P/E ratio of 15.59, a PEG ratio of 0.96 and a beta of 0.65. The company has a current ratio of 2.62, a quick ratio of 2.32 and a debt-to-equity ratio of 0.76. MaxLinear has a fifty-two week low of $15.39 and a fifty-two week high of $28.06.

MaxLinear (NYSE:MXL) last released its quarterly earnings results on Tuesday, August 7th. The semiconductor company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.03. The business had revenue of $101.53 million during the quarter. MaxLinear had a positive return on equity of 19.00% and a negative net margin of 9.37%. sell-side analysts forecast that MaxLinear will post 0.67 EPS for the current year.

In related news, CEO Kishore Seendripu acquired 27,100 shares of the company’s stock in a transaction on Friday, August 10th. The stock was purchased at an average cost of $18.47 per share, with a total value of $500,537.00. Following the acquisition, the chief executive officer now directly owns 130,474 shares of the company’s stock, valued at $2,409,854.78. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Connie H. Kwong sold 1,500 shares of MaxLinear stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $19.30, for a total value of $28,950.00. Following the completion of the transaction, the insider now directly owns 5,609 shares of the company’s stock, valued at $108,253.70. The disclosure for this sale can be found here. 11.47% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Avalon Global Asset Management LLC raised its holdings in MaxLinear by 8.7% in the 2nd quarter. Avalon Global Asset Management LLC now owns 186,500 shares of the semiconductor company’s stock valued at $2,908,000 after acquiring an additional 15,000 shares in the last quarter. FMR LLC raised its holdings in MaxLinear by 15.7% in the 2nd quarter. FMR LLC now owns 4,205,480 shares of the semiconductor company’s stock valued at $65,563,000 after acquiring an additional 570,185 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in MaxLinear by 9.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,496,425 shares of the semiconductor company’s stock valued at $23,330,000 after acquiring an additional 126,812 shares in the last quarter. Legal & General Group Plc raised its holdings in MaxLinear by 6.6% in the 2nd quarter. Legal & General Group Plc now owns 133,623 shares of the semiconductor company’s stock valued at $2,089,000 after acquiring an additional 8,241 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in MaxLinear by 11.4% in the 2nd quarter. BlackRock Inc. now owns 8,651,323 shares of the semiconductor company’s stock valued at $134,873,000 after acquiring an additional 888,287 shares in the last quarter. 92.56% of the stock is owned by hedge funds and other institutional investors.

About MaxLinear

MaxLinear, Inc provides radio-frequency (RF), high-performance analog, and mixed-signal communications systems-on-chip solutions (SoCs) for the connected home, wired and wireless infrastructure, and industrial and multi-market applications worldwide. The company offers range of semiconductor products, such as RF receivers and RF receiver SoCs, wireless infrastructure backhaul RF receivers and modem SoCs, laser modulator drivers, transimpedance amplifiers, clock and data recovery circuits, interface solutions, power management products, and data encryption and compression products.

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