MaxLinear (NYSE:MXL) Price Target Lowered to $65.00 at Needham & Company LLC

MaxLinear (NYSE:MXLGet Rating) had its price target lowered by stock analysts at Needham & Company LLC from $80.00 to $65.00 in a report released on Thursday, The Fly reports. Needham & Company LLC’s price target would indicate a potential upside of 47.76% from the company’s current price.

A number of other equities research analysts have also recently commented on MXL. Zacks Investment Research raised MaxLinear from a “hold” rating to a “strong-buy” rating and set a $69.00 target price on the stock in a research note on Wednesday, February 9th. Craig Hallum dropped their price objective on MaxLinear from $90.00 to $75.00 in a research report on Monday, April 11th. Wells Fargo & Company raised MaxLinear from an “equal weight” rating to an “overweight” rating and set a $66.00 price objective on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft dropped their price objective on MaxLinear from $65.00 to $55.00 and set a “hold” rating on the stock in a research report on Wednesday, April 20th. Finally, Northland Securities increased their price objective on MaxLinear from $71.00 to $77.00 in a research report on Thursday, February 3rd. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $68.82.

MXL opened at $43.99 on Thursday. The stock has a fifty day simple moving average of $54.49 and a two-hundred day simple moving average of $61.16. The company has a current ratio of 1.95, a quick ratio of 1.31 and a debt-to-equity ratio of 0.63. The company has a market cap of $3.38 billion, a price-to-earnings ratio of 83.00, a price-to-earnings-growth ratio of 0.76 and a beta of 1.99. MaxLinear has a 12-month low of $31.76 and a 12-month high of $77.89.

MaxLinear (NYSE:MXLGet Rating) last posted its quarterly earnings data on Wednesday, February 2nd. The semiconductor company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. The business had revenue of $247.90 million during the quarter, compared to the consensus estimate of $244.71 million. MaxLinear had a return on equity of 35.32% and a net margin of 4.70%. The firm’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.12 earnings per share. On average, analysts predict that MaxLinear will post 2.94 EPS for the current year.

In related news, Director Daniel A. Artusi sold 12,229 shares of MaxLinear stock in a transaction that occurred on Wednesday, February 9th. The stock was sold at an average price of $64.95, for a total transaction of $794,273.55. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP William Torgerson sold 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 10th. The shares were sold at an average price of $56.13, for a total value of $898,080.00. The disclosure for this sale can be found here. Insiders sold 43,959 shares of company stock worth $2,521,240 in the last ninety days. Corporate insiders own 8.82% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. US Bancorp DE boosted its holdings in shares of MaxLinear by 14.8% in the 3rd quarter. US Bancorp DE now owns 27,704 shares of the semiconductor company’s stock worth $1,365,000 after purchasing an additional 3,575 shares during the period. Deutsche Bank AG boosted its holdings in MaxLinear by 3.4% during the 3rd quarter. Deutsche Bank AG now owns 61,403 shares of the semiconductor company’s stock valued at $3,024,000 after acquiring an additional 2,040 shares during the period. Advisor Partners LLC purchased a new position in MaxLinear during the 4th quarter valued at $210,000. Royal Bank of Canada boosted its holdings in MaxLinear by 5.1% during the 3rd quarter. Royal Bank of Canada now owns 77,562 shares of the semiconductor company’s stock valued at $3,821,000 after acquiring an additional 3,778 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in MaxLinear by 11.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 6,572 shares of the semiconductor company’s stock valued at $323,000 after acquiring an additional 666 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.

MaxLinear Company Profile (Get Rating)

MaxLinear, Inc provides radiofrequency (RF), high-performance analog, and mixed-signal communications systems-on-chip solutions (SoCs) for the connected home, wired and wireless infrastructure, and industrial and multi-market applications worldwide. Its products integrate various portions of a high-speed communication system, including RF, high-performance analog, mixed-signal, digital signal processing, security engines, data compression, networking layers, and power management.

Featured Articles

The Fly logo

Analyst Recommendations for MaxLinear (NYSE:MXL)

Receive News & Ratings for MaxLinear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MaxLinear and related companies with MarketBeat.com's FREE daily email newsletter.