MaxLinear (NYSE:MXL) Shares Gap Down Following Analyst Downgrade

MaxLinear, Inc. (NYSE:MXL)’s share price gapped down before the market opened on Thursday after Susquehanna lowered their price target on the stock from $30.00 to $26.00. The stock had previously closed at $22.29, but opened at $16.02. Susquehanna currently has a positive rating on the stock. MaxLinear shares last traded at $16.05, with a volume of 883,623 shares traded.

MXL has been the topic of a number of other reports. StockNews.com cut MaxLinear from a “hold” rating to a “sell” rating in a report on Thursday, April 25th. Benchmark dropped their price objective on shares of MaxLinear from $28.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday. Craig Hallum raised shares of MaxLinear from a “hold” rating to a “buy” rating and boosted their target price for the stock from $20.00 to $38.00 in a research report on Wednesday, July 17th. Stifel Nicolaus raised their price target on shares of MaxLinear from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, Northland Securities upgraded MaxLinear from a “market perform” rating to an “outperform” rating and set a $30.00 price target for the company in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $26.20.

Institutional Trading of MaxLinear

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of MaxLinear by 12.6% during the 3rd quarter. Vanguard Group Inc. now owns 10,683,038 shares of the semiconductor company’s stock valued at $237,698,000 after acquiring an additional 1,199,257 shares during the period. Assenagon Asset Management S.A. bought a new position in MaxLinear during the fourth quarter valued at $7,553,000. Comerica Bank increased its position in MaxLinear by 472.6% in the first quarter. Comerica Bank now owns 194,405 shares of the semiconductor company’s stock worth $3,630,000 after buying an additional 160,456 shares during the last quarter. Federated Hermes Inc. lifted its holdings in MaxLinear by 2,412.2% during the fourth quarter. Federated Hermes Inc. now owns 162,916 shares of the semiconductor company’s stock valued at $3,873,000 after purchasing an additional 156,431 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of MaxLinear by 7.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,912,731 shares of the semiconductor company’s stock valued at $45,469,000 after buying an additional 137,698 shares in the last quarter. Hedge funds and other institutional investors own 90.79% of the company’s stock.

MaxLinear Trading Down 26.7 %

The firm has a 50-day simple moving average of $20.15 and a 200-day simple moving average of $20.13. The company has a quick ratio of 1.56, a current ratio of 1.99 and a debt-to-equity ratio of 0.19. The stock has a market cap of $1.36 billion, a PE ratio of -8.72 and a beta of 1.84.

MaxLinear (NYSE:MXL) last released its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.02. MaxLinear had a negative return on equity of 4.75% and a negative net margin of 28.70%. The company had revenue of $95.27 million for the quarter, compared to analyst estimates of $94.99 million. Equities analysts forecast that MaxLinear, Inc. will post -1.25 earnings per share for the current year.

MaxLinear Company Profile

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.