MaxLinear (NYSE:MXL) Given New $25.00 Price Target at Craig Hallum

MaxLinear (NYSE:MXL - Free Report) had its price target cut by Craig Hallum from $28.00 to $25.00 in a report released on Thursday, Benzinga reports. They currently have a buy rating on the semiconductor company's stock.

A number of other brokerages have also recently issued reports on MXL. Susquehanna cut shares of MaxLinear from a "positive" rating to a "neutral" rating and reduced their price objective for the stock from $26.00 to $15.00 in a research note on Tuesday, October 1st. Needham & Company LLC restated a "hold" rating on shares of MaxLinear in a report on Thursday. Northland Securities lowered their price target on MaxLinear from $30.00 to $25.00 and set an "outperform" rating for the company in a report on Thursday, July 25th. Stifel Nicolaus boosted their target price on shares of MaxLinear from $26.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, July 18th. Finally, Benchmark reaffirmed a "buy" rating and issued a $22.00 price target on shares of MaxLinear in a report on Thursday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, MaxLinear currently has an average rating of "Hold" and an average price target of $23.13.

MaxLinear Price Performance

NYSE MXL traded up $0.22 during trading hours on Thursday, reaching $15.09. 4,859,181 shares of the stock traded hands, compared to its average volume of 948,699. The company has a market cap of $1.25 billion, a price-to-earnings ratio of -7.98 and a beta of 1.83. The stock has a 50 day simple moving average of $13.83 and a two-hundred day simple moving average of $17.17. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.09 and a quick ratio of 1.59. MaxLinear has a 1 year low of $11.08 and a 1 year high of $26.59.

MaxLinear (NYSE:MXL - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $81.10 million during the quarter, compared to the consensus estimate of $80.40 million. During the same period last year, the business earned ($0.02) EPS. MaxLinear's revenue was down 40.2% on a year-over-year basis. On average, analysts predict that MaxLinear will post -1.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Kishore Seendripu bought 108,303 shares of the firm's stock in a transaction dated Tuesday, July 30th. The stock was acquired at an average price of $12.94 per share, for a total transaction of $1,401,440.82. Following the acquisition, the chief executive officer now owns 531,937 shares of the company's stock, valued at $6,883,264.78. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 8.60% of the stock is owned by corporate insiders.

Institutional Trading of MaxLinear

Several hedge funds and other institutional investors have recently bought and sold shares of MXL. Headlands Technologies LLC bought a new stake in shares of MaxLinear during the first quarter valued at about $27,000. Innealta Capital LLC purchased a new position in MaxLinear during the 2nd quarter worth approximately $30,000. International Assets Investment Management LLC purchased a new stake in MaxLinear in the 2nd quarter worth about $31,000. GAMMA Investing LLC lifted its position in MaxLinear by 151.8% in the 3rd quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company's stock worth $50,000 after buying an additional 2,093 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of MaxLinear during the 2nd quarter valued at about $56,000. 90.79% of the stock is owned by institutional investors.

MaxLinear Company Profile

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.