Needham & Company LLC Reiterates “Hold” Rating for MaxLinear (NASDAQ:MXL)

Needham & Company LLC reissued their hold rating on shares of MaxLinear (NASDAQ:MXL) in a research report sent to investors on Thursday, Benzinga reports.

Other equities research analysts have also recently issued research reports about the company. Craig Hallum decreased their price objective on MaxLinear from $38.00 to $28.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. Stifel Nicolaus lifted 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. Susquehanna downgraded shares of MaxLinear from a “positive” rating to a “neutral” rating and dropped their price objective for the company from $26.00 to $15.00 in a research note on Tuesday, October 1st. Northland Securities decreased their target price on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Finally, Benchmark reaffirmed a “buy” rating and set a $22.00 price target on shares of MaxLinear in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, MaxLinear currently has an average rating of “Hold” and an average target price of $23.86.

MaxLinear Stock Performance

Shares of MXL stock opened at $14.85 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.59 and a current ratio of 2.09. The stock has a market cap of $1.25 billion, a PE ratio of -6.43 and a beta of 1.83. MaxLinear has a 1 year low of $11.08 and a 1 year high of $26.59. The stock has a fifty day moving average price of $13.87 and a 200 day moving average price of $17.03.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.04). MaxLinear had a negative net margin of 42.38% and a negative return on equity of 12.39%. The business had revenue of $81.10 million during the quarter, compared to analyst estimates of $80.40 million. During the same quarter in the prior year, the company earned ($0.02) earnings per share. The firm’s revenue for the quarter was down 40.2% compared to the same quarter last year. Sell-side analysts forecast that MaxLinear will post -1.74 earnings per share for the current fiscal year.

Insider Buying and Selling at MaxLinear

In related news, CEO Kishore Seendripu acquired 108,303 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was acquired at an average cost of $12.94 per share, for a total transaction of $1,401,440.82. Following the completion of the acquisition, the chief executive officer now directly owns 531,937 shares of the company’s stock, valued at approximately $6,883,264.78. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 8.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On MaxLinear

Several institutional investors and hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC raised its position in MaxLinear by 20.3% during the third quarter. Nisa Investment Advisors LLC now owns 7,761 shares of the semiconductor company’s stock valued at $112,000 after acquiring an additional 1,308 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of MaxLinear by 2.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 284,301 shares of the semiconductor company’s stock valued at $4,117,000 after purchasing an additional 5,705 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of MaxLinear by 1,348.0% during the 3rd quarter. International Assets Investment Management LLC now owns 22,632 shares of the semiconductor company’s stock valued at $328,000 after purchasing an additional 21,069 shares in the last quarter. Inspire Investing LLC lifted its stake in shares of MaxLinear by 62.8% in the 3rd quarter. Inspire Investing LLC now owns 28,366 shares of the semiconductor company’s stock valued at $411,000 after purchasing an additional 10,947 shares during the last quarter. Finally, CWM LLC increased its position in MaxLinear by 321.3% during the third quarter. CWM LLC now owns 5,793 shares of the semiconductor company’s stock worth $84,000 after buying an additional 4,418 shares during the last quarter. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

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.