Needham & Company LLC Reiterates "Hold" Rating for MaxLinear (NYSE:MXL)

MaxLinear (NYSE:MXL - Get Free Report)'s stock had its "hold" rating reaffirmed by equities research analysts at Needham & Company LLC in a note issued to investors on Thursday, Benzinga reports.

MXL has been the topic of a number of other reports. Susquehanna downgraded shares of MaxLinear from a "positive" rating to a "neutral" rating and lowered their target price for the company from $26.00 to $15.00 in a research note on Tuesday, October 1st. Benchmark reaffirmed a "buy" rating and set a $22.00 price objective on shares of MaxLinear in a report on Thursday. Northland Securities reduced their target price on MaxLinear from $30.00 to $25.00 and set an "outperform" rating on the stock in a research note on Thursday, July 25th. Stifel Nicolaus upped their price objective on MaxLinear from $26.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, July 18th. Finally, Craig Hallum decreased their price objective on MaxLinear from $38.00 to $28.00 and set a "hold" rating on the stock in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $23.13.

MaxLinear Stock Performance

Shares of MaxLinear stock traded up $0.22 during trading hours on Thursday, reaching $15.09. The company had a trading volume of 4,859,181 shares, compared to its average volume of 948,694. 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 one year low of $11.08 and a one year high of $26.59. The firm has a market cap of $1.25 billion, a PE ratio of -8.10 and a beta of 1.83. The business has a fifty day simple moving average of $13.77 and a 200 day simple moving average of $17.19.

MaxLinear (NYSE:MXL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.06). The firm 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%. The company's quarterly revenue was down 50.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 earnings per share. On average, analysts anticipate that MaxLinear will post -1.74 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Kishore Seendripu bought 108,303 shares of the firm's stock in a transaction that occurred on Tuesday, July 30th. The shares were bought at an average cost of $12.94 per share, with a total value of $1,401,440.82. Following the completion of the purchase, the chief executive officer now directly owns 531,937 shares in the company, valued at $6,883,264.78. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 8.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC purchased a new position in shares of MaxLinear during the first quarter valued at about $27,000. Innealta Capital LLC bought a new position in shares of MaxLinear in the 2nd quarter worth approximately $30,000. International Assets Investment Management LLC purchased a new position in shares of MaxLinear in the 2nd quarter valued at approximately $31,000. GAMMA Investing LLC boosted its position in shares of MaxLinear by 151.8% during the third quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company's stock valued at $50,000 after purchasing an additional 2,093 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in MaxLinear in the second quarter worth $56,000. 90.79% of the stock is currently 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.