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

MaxLinear (NYSE:MXL) was downgraded by research analysts at Needham & Company LLC from a “buy” rating to a “hold” rating in a report issued on Thursday, MarketBeat reports.

A number of other equities research analysts also recently weighed in on MXL. StockNews.com downgraded MaxLinear from a “hold” rating to a “sell” rating in a research report on Thursday, April 25th. Benchmark reaffirmed a “buy” rating and set a $28.00 price target on shares of MaxLinear in a research report on Tuesday, July 9th. Northland Securities raised MaxLinear from a “market perform” rating to an “outperform” rating and set a $30.00 target price on the stock in a research report on Thursday, April 4th. Stifel Nicolaus upped their price objective on shares of MaxLinear from $26.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, Susquehanna lifted their target price on shares of MaxLinear from $25.00 to $30.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $24.70.

MaxLinear Stock Down 8.9 %

Shares of NYSE MXL opened at $12.78 on Thursday. The stock has a 50 day moving average price of $20.04 and a 200 day moving average price of $20.09. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -6.76 and a beta of 1.84. MaxLinear has a 52-week low of $12.48 and a 52-week high of $26.59. 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 results on Wednesday, July 24th. The semiconductor company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.06). The business had revenue of $92.00 million during the quarter, compared to analysts’ expectations of $100.25 million. MaxLinear had a negative return on equity of 12.39% and a negative net margin of 42.38%. 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 company posted $0.19 EPS. Sell-side analysts expect that MaxLinear will post -1.25 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew 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 raised its stake 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 worth $937,000 after buying an additional 5,569 shares during the period. Assenagon Asset Management S.A. acquired a new stake in MaxLinear in the 4th quarter valued at $7,553,000. International Assets Investment Management LLC raised its position in MaxLinear by 2,277.0% during the fourth quarter. International Assets Investment Management LLC now owns 37,153 shares of the semiconductor company’s stock worth $883,000 after acquiring an additional 35,590 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings 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 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.