Benchmark Cuts MaxLinear (NYSE:MXL) Price Target to $22.00

MaxLinear (NYSE:MXL) had its target price trimmed by Benchmark from $28.00 to $22.00 in a report published on Thursday, Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

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

MaxLinear Stock Performance

Shares of MaxLinear stock opened at $12.78 on Thursday. The firm has a market cap of $1.06 billion, a PE ratio of -6.76 and a beta of 1.84. MaxLinear has a 1 year low of $12.48 and a 1 year high of $26.59. The firm’s 50-day simple moving average is $19.91 and its 200-day simple moving average is $20.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.56 and a current ratio of 2.09.

MaxLinear (NYSE:MXL) last announced 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 net margin of 42.38% and a negative return on equity of 12.39%. The firm had revenue of $92.00 million for the quarter, compared to analyst estimates of $100.25 million. During the same quarter in the previous year, the company earned $0.19 EPS. The company’s quarterly revenue was down 50.0% compared to the same quarter last year. Equities analysts forecast that MaxLinear will post -1.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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