MaxLinear (NASDAQ:MXL) Price Target Cut to $23.00 by Analysts at Susquehanna

MaxLinear (NASDAQ:MXL - Get Free Report) had its price objective cut by analysts at Susquehanna from $25.00 to $23.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the semiconductor company's stock. Susquehanna's target price would suggest a potential upside of 29.18% from the stock's current price.

MXL has been the subject of several other reports. Wells Fargo & Company raised their price objective on shares of MaxLinear from $19.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Thursday. Craig Hallum decreased their price objective on MaxLinear from $28.00 to $25.00 and set a "buy" rating on the stock in a report on Thursday, October 24th. Benchmark boosted their target price on shares of MaxLinear from $22.00 to $28.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Northland Securities raised their price target on shares of MaxLinear from $25.00 to $27.50 and gave the stock an "outperform" rating in a research report on Monday, January 6th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of MaxLinear in a report on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $25.50.

MaxLinear Price Performance

Shares of MXL stock traded down $0.06 during trading hours on Thursday, reaching $17.81. 1,637,117 shares of the company were exchanged, compared to its average volume of 2,262,375. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.77 and a quick ratio of 1.28. MaxLinear has a fifty-two week low of $11.08 and a fifty-two week high of $26.59. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -6.04 and a beta of 1.77. The stock's fifty day moving average is $19.85 and its two-hundred day moving average is $16.27.

MaxLinear (NASDAQ:MXL - Get Free Report) last posted its earnings results on Wednesday, January 29th. The semiconductor company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.14). MaxLinear had a negative return on equity of 21.94% and a negative net margin of 68.01%. Sell-side analysts forecast that MaxLinear will post -0.21 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Steven G. Litchfield sold 32,000 shares of the firm's stock in a transaction on Friday, December 13th. The shares were sold at an average price of $20.35, for a total transaction of $651,200.00. Following the sale, the insider now directly owns 365,868 shares in the company, valued at $7,445,413.80. This trade represents a 8.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP William Torgerson sold 6,100 shares of the company's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $15.40, for a total value of $93,940.00. Following the completion of the transaction, the vice president now owns 179,262 shares of the company's stock, valued at $2,760,634.80. The trade was a 3.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,900 shares of company stock worth $927,278 over the last 90 days. 8.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MXL. Pacer Advisors Inc. increased its holdings in shares of MaxLinear by 29.0% in the 4th quarter. Pacer Advisors Inc. now owns 1,968 shares of the semiconductor company's stock valued at $39,000 after acquiring an additional 443 shares during the period. Truvestments Capital LLC acquired a new position in shares of MaxLinear in the 3rd quarter valued at $42,000. R Squared Ltd acquired a new position in MaxLinear in the 4th quarter worth approximately $45,000. GAMMA Investing LLC raised its stake in shares of MaxLinear by 151.8% during the 3rd quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company's stock valued at $50,000 after buying an additional 2,093 shares during the last quarter. Finally, CWM LLC grew its holdings 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 acquiring an additional 4,418 shares during the period. Institutional investors 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.