MaxLinear, Inc. (NYSE:MXL) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of MaxLinear, Inc. (NYSE:MXL) have been assigned an average rating of “Hold” from the nine brokerages that are presently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $23.13.

MXL has been the topic of several research analyst reports. Benchmark reaffirmed a “buy” rating and set a $22.00 price objective on shares of MaxLinear in a research note on Thursday. Northland Securities decreased their price objective on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Craig Hallum decreased their price objective on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday. Stifel Nicolaus upped their price objective on shares of MaxLinear from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a research note on Thursday.

MaxLinear Stock Performance

NYSE:MXL opened at $15.09 on Friday. MaxLinear has a 12-month low of $11.08 and a 12-month high of $26.59. The company has a quick ratio of 1.59, a current ratio of 2.09 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $1.25 billion, a PE ratio of -7.98 and a beta of 1.83. The firm has a 50-day moving average price of $13.83 and a 200 day moving average price of $17.17.

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

Insider Activity

In other MaxLinear news, CEO Kishore Seendripu acquired 108,303 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The shares were 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. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.60% of the stock is owned by insiders.

Hedge Funds Weigh In On MaxLinear

Several large investors have recently bought and sold shares of MXL. Hood River Capital Management LLC acquired a new position in MaxLinear in the second quarter valued at approximately $24,184,000. Vanguard Group Inc. raised its holdings in MaxLinear by 8.5% in the fourth quarter. Vanguard Group Inc. now owns 11,586,273 shares of the semiconductor company’s stock worth $275,406,000 after purchasing an additional 903,235 shares during the period. Millennium Management LLC raised its holdings in MaxLinear by 307.9% in the second quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company’s stock worth $21,039,000 after purchasing an additional 788,558 shares during the period. Dimensional Fund Advisors LP raised its holdings in MaxLinear by 10.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,071,183 shares of the semiconductor company’s stock worth $41,714,000 after purchasing an additional 192,021 shares during the period. Finally, Comerica Bank raised its holdings in 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 purchasing an additional 160,456 shares during the period. 90.79% of the stock is currently 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.