MaxLinear (NASDAQ:MXL) Price Target Cut to $16.00 by Analysts at Stifel Nicolaus

MaxLinear (NASDAQ:MXL) had its target price lowered by Stifel Nicolaus from $26.00 to $16.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Other analysts have also recently issued research reports about the stock. Susquehanna cut their price objective on shares of MaxLinear from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Needham & Company LLC reiterated a “hold” rating on shares of MaxLinear in a research note on Thursday, January 30th. Benchmark decreased their price objective on shares of MaxLinear from $28.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday. Wells Fargo & Company raised their price objective on MaxLinear from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Finally, Northland Securities boosted their target price on MaxLinear from $25.00 to $27.50 and gave the company an “outperform” rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $22.36.

MaxLinear Price Performance

MXL stock opened at $10.22 on Thursday. MaxLinear has a 1 year low of $8.35 and a 1 year high of $26.59. The firm has a market capitalization of $864.96 million, a P/E ratio of -3.49 and a beta of 1.82. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.77 and a quick ratio of 1.28. The business’s 50-day moving average is $12.97 and its two-hundred day moving average is $15.89.

MaxLinear (NASDAQ:MXL) last issued its earnings results on Wednesday, January 29th. The semiconductor company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.14). MaxLinear had a negative return on equity of 21.94% and a negative net margin of 68.01%. Analysts anticipate that MaxLinear will post -0.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MaxLinear

Several institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its stake in shares of MaxLinear by 5.1% in the 3rd quarter. State Street Corp now owns 4,123,419 shares of the semiconductor company’s stock valued at $59,707,000 after purchasing an additional 198,791 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in MaxLinear by 4,298.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 20,979 shares of the semiconductor company’s stock valued at $304,000 after buying an additional 20,502 shares during the period. Barclays PLC raised its position in MaxLinear by 47.6% during the 3rd quarter. Barclays PLC now owns 335,804 shares of the semiconductor company’s stock worth $4,860,000 after buying an additional 108,346 shares during the last quarter. Geode Capital Management LLC raised its position in MaxLinear by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,805,722 shares of the semiconductor company’s stock worth $26,152,000 after buying an additional 6,420 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of MaxLinear by 44.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 935,739 shares of the semiconductor company’s stock worth $13,550,000 after acquiring an additional 288,607 shares during the period. Institutional investors and hedge funds 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.