MaxLinear (NYSE:MXL) Downgraded by Susquehanna

MaxLinear (NYSE:MXL) was downgraded by equities research analysts at Susquehanna from a “positive” rating to a “neutral” rating in a research note issued on Tuesday, FinViz reports. They presently have a $15.00 price target on the semiconductor company’s stock. Susquehanna’s price objective would indicate a potential upside of 3.59% from the company’s current price.

MXL has been the subject of a number of other reports. Stifel Nicolaus raised their target price on MaxLinear from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Craig Hallum reduced their target price on 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 cut their price target on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Needham & Company LLC cut shares of MaxLinear from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Finally, Benchmark dropped their target price on shares of MaxLinear from $28.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.44.

MaxLinear Price Performance

Shares of MXL opened at $14.48 on Tuesday. The company has a quick ratio of 1.59, a current ratio of 2.09 and a debt-to-equity ratio of 0.20. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -7.66 and a beta of 1.84. MaxLinear has a twelve month low of $11.08 and a twelve month high of $26.59. The company has a 50 day moving average of $13.91 and a two-hundred day moving average of $17.83.

MaxLinear (NYSE:MXL) last announced its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.06). The company had revenue of $92.00 million during the quarter, compared to analysts’ expectations of $100.25 million. MaxLinear had a negative net margin of 42.38% and a negative return on equity of 12.39%. The business’s revenue for the quarter was down 50.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.19 earnings per share. As a group, analysts predict that MaxLinear will post -1.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Kishore Seendripu bought 108,303 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was bought at an average cost of $12.94 per share, with a total value of $1,401,440.82. Following the transaction, the chief executive officer now directly owns 531,937 shares in the company, valued at approximately $6,883,264.78. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 8.60% of the stock is owned by insiders.

Hedge Funds Weigh In On MaxLinear

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Headlands Technologies LLC acquired a new stake in shares of MaxLinear during the 1st quarter worth about $27,000. Innealta Capital LLC purchased a new position in MaxLinear in the second quarter valued at approximately $30,000. International Assets Investment Management LLC acquired a new stake in MaxLinear during the second quarter worth approximately $31,000. Canada Pension Plan Investment Board purchased a new stake in shares of MaxLinear during the 2nd quarter worth approximately $56,000. Finally, EntryPoint Capital LLC acquired a new position in shares of MaxLinear in the 1st quarter valued at $59,000. 90.79% of the stock is owned by institutional investors and hedge funds.

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.