Needham & Company LLC Reiterates “Hold” Rating for MaxLinear (NASDAQ:MXL)

MaxLinear (NASDAQ:MXL)‘s stock had its “hold” rating restated by stock analysts at Needham & Company LLC in a report released on Thursday,Benzinga reports.

A number of other research firms also recently weighed in on MXL. Craig Hallum reduced their target price on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Northland Securities upped their price objective on shares of MaxLinear from $25.00 to $27.50 and gave the stock an “outperform” rating in a report on Monday, January 6th. Wells Fargo & Company lifted their target price on shares of MaxLinear from $14.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Benchmark upped their price target on MaxLinear from $22.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Susquehanna lifted their price objective on MaxLinear from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, MaxLinear has a consensus rating of “Hold” and a consensus price target of $25.50.

MaxLinear Stock Performance

Shares of MXL opened at $17.86 on Thursday. MaxLinear has a one year low of $11.08 and a one year high of $26.59. The company has a 50-day simple moving average of $19.85 and a two-hundred day simple moving average of $16.39. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.95 and a quick ratio of 1.38. The firm has a market capitalization of $1.51 billion, a PE ratio of -6.10 and a beta of 1.79.

MaxLinear (NASDAQ:MXL) last released its earnings results on Wednesday, January 29th. The semiconductor company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.14). MaxLinear had a negative net margin of 68.01% and a negative return on equity of 21.15%. On average, analysts anticipate that MaxLinear will post -0.21 EPS for the current fiscal year.

Insider Activity at MaxLinear

In other MaxLinear news, Director Ted L. Tewksbury III sold 5,800 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $15.36, for a total transaction of $89,088.00. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP William Torgerson sold 6,100 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $15.40, for a total value of $93,940.00. Following the transaction, the vice president now directly owns 179,262 shares in the company, 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. In the last three months, insiders have sold 48,900 shares of company stock valued at $927,278. 8.60% of the stock is owned by corporate insiders.

Institutional Trading of MaxLinear

A number of hedge funds have recently bought and sold shares of MXL. Pacer Advisors Inc. raised its position in MaxLinear by 29.0% in the fourth quarter. Pacer Advisors Inc. now owns 1,968 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 443 shares during the period. Truvestments Capital LLC bought a new position in MaxLinear in the 3rd quarter worth $42,000. R Squared Ltd bought a new position in MaxLinear in the 4th quarter worth $45,000. GAMMA Investing LLC lifted its position in 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, 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 valued at $84,000 after purchasing an additional 4,418 shares during the period. Hedge funds and other institutional investors 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.