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

MaxLinear (NYSE:MXL) had its target price lowered by Northland Securities from $30.00 to $25.00 in a report released on Thursday morning, Benzinga reports. The brokerage currently has an outperform rating on the semiconductor company’s stock.

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

MaxLinear Stock Down 8.9 %

Shares of NYSE MXL opened at $12.78 on Thursday. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -6.76 and a beta of 1.84. The company has a quick ratio of 1.56, a current ratio of 2.09 and a debt-to-equity ratio of 0.20. The firm’s fifty day moving average is $19.91 and its 200 day moving average is $20.02. MaxLinear has a 52 week low of $12.48 and a 52 week high of $26.59.

MaxLinear (NYSE:MXL) last released its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $92.00 million for the quarter, compared to the consensus estimate of $100.25 million. During the same period in the previous year, the company earned $0.19 EPS. The company’s revenue for the quarter was down 50.0% on a year-over-year basis. On average, equities research analysts expect that MaxLinear will post -1.25 earnings per share for the current year.

Institutional Investors Weigh In On MaxLinear

A number of institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its position in shares of MaxLinear by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,535,449 shares of the semiconductor company’s stock worth $51,064,000 after purchasing an additional 128,585 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in MaxLinear by 3.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 38,000 shares of the semiconductor company’s stock valued at $765,000 after purchasing an additional 1,100 shares in the last quarter. SG Americas Securities LLC raised its holdings in MaxLinear by 39.5% in the second quarter. SG Americas Securities LLC now owns 12,184 shares of the semiconductor company’s stock worth $245,000 after buying an additional 3,453 shares during the last quarter. Simplicity Wealth LLC lifted 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 buying an additional 579 shares in the last quarter. Finally, Comerica Bank lifted its stake in shares of 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 in the last quarter. 90.79% of the stock is 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.