Susquehanna Lowers MaxLinear (NYSE:MXL) to Neutral

MaxLinear (NYSE:MXL) was downgraded by research analysts at Susquehanna from a “positive” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. They currently have a $15.00 price target on the semiconductor company’s stock, down from their prior price target of $26.00. Susquehanna’s price target suggests a potential upside of 11.61% from the stock’s previous close.

Several other equities research analysts also recently issued reports on MXL. Craig Hallum decreased their price objective on shares of MaxLinear from $38.00 to $28.00 and set a “hold” rating for the company in a research note on Thursday, July 25th. Northland Securities decreased their price target on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Stifel Nicolaus increased their price target on MaxLinear from $26.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Needham & Company LLC cut MaxLinear from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, Benchmark decreased their target price on MaxLinear from $28.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $23.44.

MaxLinear Price Performance

Shares of MaxLinear stock opened at $13.44 on Tuesday. The business’s fifty day moving average price is $13.48 and its 200 day moving average price is $17.77. MaxLinear has a twelve month low of $11.08 and a twelve month high of $26.59. The company has a current ratio of 2.09, a quick ratio of 1.59 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $1.12 billion, a P/E ratio of -7.11 and a beta of 1.84.

MaxLinear (NYSE:MXL) last released its quarterly earnings data 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). MaxLinear had a negative net margin of 42.38% and a negative return on equity of 12.39%. The firm had revenue of $92.00 million during the quarter, compared to analyst estimates of $100.25 million. During the same period in the prior year, the firm earned $0.19 earnings per share. The business’s revenue for the quarter was down 50.0% on a year-over-year basis. As a group, research analysts anticipate that MaxLinear will post -1.6 earnings per share for the current year.

Insider Activity

In other MaxLinear news, CEO Kishore Seendripu acquired 108,303 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were bought at an average cost of $12.94 per share, for a total transaction of $1,401,440.82. Following the acquisition, the chief executive officer now directly owns 531,937 shares of the company’s stock, valued at $6,883,264.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Simplicity Wealth LLC increased its position in shares of MaxLinear by 3.1% in the 2nd quarter. Simplicity Wealth LLC now owns 19,283 shares of the semiconductor company’s stock worth $388,000 after purchasing an additional 579 shares during the last quarter. ProShare Advisors LLC grew its stake in MaxLinear by 7.4% in the first quarter. ProShare Advisors LLC now owns 15,304 shares of the semiconductor company’s stock worth $286,000 after purchasing an additional 1,061 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in MaxLinear by 3.0% in the second quarter. Louisiana State Employees Retirement System now owns 38,000 shares of the semiconductor company’s stock valued at $765,000 after buying an additional 1,100 shares during the last quarter. Swiss National Bank raised its stake in MaxLinear by 0.9% during the first quarter. Swiss National Bank now owns 152,973 shares of the semiconductor company’s stock valued at $2,856,000 after buying an additional 1,300 shares in the last quarter. Finally, Texas Permanent School Fund Corp lifted its holdings in MaxLinear by 2.2% during the 1st quarter. Texas Permanent School Fund Corp now owns 65,248 shares of the semiconductor company’s stock worth $1,218,000 after buying an additional 1,375 shares during the last quarter. 90.79% of the stock is currently owned by institutional investors.

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.