Northland Securities Lowers MaxLinear (NYSE:MXL) Price Target to $25.00

MaxLinear (NYSE:MXL) had its price target reduced by Northland Securities from $30.00 to $25.00 in a research note published on Thursday, Benzinga reports. They currently have an outperform rating on the semiconductor company’s stock.

Other equities research analysts also recently issued reports about the company. Stifel Nicolaus boosted their price target on MaxLinear from $26.00 to $30.00 and gave the company a buy rating in a report on Thursday, July 18th. Craig Hallum lowered their price target on MaxLinear from $38.00 to $28.00 and set a hold rating for the company in a report on Thursday. StockNews.com downgraded MaxLinear from a hold rating to a sell rating in a report on Thursday, April 25th. Susquehanna lowered their price objective on MaxLinear from $30.00 to $26.00 and set a positive rating for the company in a research note on Thursday. Finally, Benchmark reduced their price target on MaxLinear from $28.00 to $22.00 and set a buy rating for the company in a research report on Thursday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $24.70.

MaxLinear Price Performance

MXL stock opened at $12.77 on Thursday. The company has a quick ratio of 1.56, a current ratio of 2.09 and a debt-to-equity ratio of 0.20. MaxLinear has a 52-week low of $12.48 and a 52-week high of $26.59. The stock’s 50 day moving average is $19.91 and its two-hundred day moving average is $20.00. The company has a market capitalization of $1.06 billion, a PE ratio of -6.76 and a beta of 1.84.

MaxLinear (NYSE:MXL) last posted its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.06). MaxLinear had a negative return on equity of 12.39% and a negative net margin of 42.38%. The business had revenue of $92.00 million for the quarter, compared to analysts’ expectations of $100.25 million. During the same quarter in the prior year, the firm earned $0.19 earnings per share. MaxLinear’s revenue for the quarter was down 50.0% compared to the same quarter last year. Analysts predict that MaxLinear will post -1.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MXL. Vanguard Group Inc. raised its position in MaxLinear by 12.6% during the third quarter. Vanguard Group Inc. now owns 10,683,038 shares of the semiconductor company’s stock valued at $237,698,000 after buying an additional 1,199,257 shares during the period. SG Americas Securities LLC increased its position in MaxLinear by 16.5% in the 4th quarter. SG Americas Securities LLC now owns 39,406 shares of the semiconductor company’s stock worth $937,000 after purchasing an additional 5,569 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of MaxLinear during the 4th quarter worth about $7,553,000. International Assets Investment Management LLC raised its stake in shares of MaxLinear by 2,277.0% during the 4th quarter. International Assets Investment Management LLC now owns 37,153 shares of the semiconductor company’s stock worth $883,000 after purchasing an additional 35,590 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of MaxLinear by 10.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,132 shares of the semiconductor company’s stock worth $835,000 after purchasing an additional 3,278 shares in the last quarter. 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.