MaxLinear (NYSE:MXL) Downgraded to Hold at Needham & Company LLC

Needham & Company LLC lowered shares of MaxLinear (NYSE:MXL) from a buy rating to a hold rating in a research note released on Thursday, Marketbeat.com reports.

A number of other analysts have also recently issued reports on the company. Craig Hallum raised MaxLinear from a hold rating to a buy rating and lifted their price objective for the company from $20.00 to $38.00 in a research report on Wednesday, July 17th. Susquehanna lifted their price objective on MaxLinear from $25.00 to $30.00 and gave the company a positive rating in a research report on Wednesday, July 17th. Northland Securities raised MaxLinear from a market perform rating to an outperform rating and set a $30.00 price objective for the company in a research report on Thursday, April 4th. StockNews.com cut MaxLinear from a hold rating to a sell rating in a research report on Thursday, April 25th. Finally, Stifel Nicolaus boosted their price target on MaxLinear from $26.00 to $30.00 and gave the stock a buy rating in a research report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, MaxLinear has an average rating of Hold and an average target price of $24.70.

MaxLinear Stock Performance

Shares of MXL stock opened at $14.02 on Thursday. MaxLinear has a 1-year low of $13.43 and a 1-year high of $35.00. The company has a current ratio of 1.99, a quick ratio of 1.56 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -7.42 and a beta of 1.84. The stock’s fifty day simple moving average is $20.15 and its 200-day simple moving average is $20.13.

MaxLinear (NYSE:MXL) last released its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.06). The firm had revenue of $92.00 million for the quarter, compared to analyst estimates of $100.25 million. MaxLinear had a negative net margin of 42.38% and a negative return on equity of 12.12%. MaxLinear’s revenue for the quarter was down 50.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.19 EPS. On average, sell-side analysts predict that MaxLinear will post -1.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MaxLinear

A number of institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC increased its stake in shares of MaxLinear by 8.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,310 shares of the semiconductor company’s stock worth $150,000 after purchasing an additional 490 shares during the period. Simplicity Wealth LLC increased its stake in shares of MaxLinear by 3.1% in the second quarter. Simplicity Wealth LLC now owns 19,283 shares of the semiconductor company’s stock worth $388,000 after purchasing an additional 579 shares during the period. New York State Common Retirement Fund increased its stake in shares of MaxLinear by 2.8% in the fourth quarter. New York State Common Retirement Fund now owns 31,045 shares of the semiconductor company’s stock worth $738,000 after purchasing an additional 840 shares during the period. ProShare Advisors LLC increased its stake in shares of MaxLinear by 7.4% in the first quarter. ProShare Advisors LLC now owns 15,304 shares of the semiconductor company’s stock worth $286,000 after purchasing an additional 1,061 shares during the period. Finally, Louisiana State Employees Retirement System increased its stake in shares of MaxLinear by 3.0% in the second quarter. Louisiana State Employees Retirement System now owns 38,000 shares of the semiconductor company’s stock worth $765,000 after purchasing an additional 1,100 shares during the period. 90.79% of the stock is currently owned by institutional investors.

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.