MaxLinear (NASDAQ:MXL) Given New $23.00 Price Target at Susquehanna

MaxLinear (NASDAQ:MXL) had its price target dropped by Susquehanna from $25.00 to $23.00 in a report released on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the semiconductor company’s stock. Susquehanna’s price objective suggests a potential upside of 20.98% from the company’s current price.

A number of other analysts have also recently weighed in on MXL. 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. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a report on Thursday. Benchmark upped their price objective on MaxLinear from $22.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Northland Securities increased their price objective on MaxLinear from $25.00 to $27.50 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Finally, Craig Hallum dropped their target price on MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, MaxLinear has a consensus rating of “Hold” and an average price target of $25.50.

MaxLinear Stock Down 12.7 %

MXL stock traded down $2.78 during mid-day trading on Thursday, reaching $19.01. The company had a trading volume of 1,018,646 shares, compared to its average volume of 1,828,377. The firm has a fifty day simple moving average of $19.77 and a 200 day simple moving average of $16.43. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.95. MaxLinear has a fifty-two week low of $11.08 and a fifty-two week high of $26.59. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -7.03 and a beta of 1.79.

MaxLinear (NASDAQ:MXL) last posted its earnings results on Wednesday, January 29th. The semiconductor company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.14). MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. Analysts forecast that MaxLinear will post -1.66 earnings per share for the current fiscal year.

Insider Buying and Selling at MaxLinear

In related news, Director Ted L. Tewksbury III sold 5,800 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $15.36, for a total transaction of $89,088.00. Following the sale, the director now directly owns 69,717 shares in the company, valued at approximately $1,070,853.12. The trade was a 7.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP William Torgerson sold 6,100 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $15.40, for a total value of $93,940.00. Following the sale, the vice president now directly owns 179,262 shares of the company’s stock, valued at $2,760,634.80. This represents a 3.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,900 shares of company stock valued at $927,278 in the last quarter. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On MaxLinear

Hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. grew its stake 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 worth $39,000 after purchasing an additional 443 shares during the last quarter. GAMMA Investing LLC raised its holdings in MaxLinear by 19.1% in the 4th quarter. GAMMA Investing LLC now owns 4,134 shares of the semiconductor company’s stock valued at $82,000 after buying an additional 662 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of MaxLinear by 20.3% during the third quarter. Nisa Investment Advisors LLC now owns 7,761 shares of the semiconductor company’s stock valued at $112,000 after acquiring an additional 1,308 shares during the last quarter. R Squared Ltd acquired a new position in shares of MaxLinear during the fourth quarter worth $45,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of MaxLinear by 12.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,046 shares of the semiconductor company’s stock worth $334,000 after purchasing an additional 2,618 shares during the last quarter. Institutional investors and hedge funds own 90.79% of the company’s stock.

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.