Loop Capital Cuts MaxLinear (NASDAQ:MXL) Price Target to $10.00

MaxLinear (NASDAQ:MXL) had its target price decreased by Loop Capital from $18.00 to $10.00 in a research note released on Tuesday morning,Benzinga reports. Loop Capital currently has a hold rating on the semiconductor company’s stock.

A number of other brokerages also recently weighed in on MXL. Susquehanna lowered their price target on MaxLinear from $25.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Northland Securities boosted their target price on MaxLinear from $25.00 to $27.50 and gave the stock an “outperform” rating in a report on Monday, January 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a report on Thursday, January 30th. Roth Capital set a $11.00 price objective on shares of MaxLinear and gave the stock a “neutral” rating in a research report on Thursday, April 24th. Finally, Benchmark reissued a “buy” rating and issued a $20.00 price objective on shares of MaxLinear in a research report on Thursday, April 24th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $19.06.

MaxLinear Trading Up 1.1 %

Shares of MaxLinear stock opened at $10.10 on Tuesday. MaxLinear has a 12-month low of $8.35 and a 12-month high of $26.59. The company has a quick ratio of 1.28, a current ratio of 1.77 and a debt-to-equity ratio of 0.24. The business’s 50 day moving average is $11.58 and its 200-day moving average is $15.63. The stock has a market cap of $854.80 million, a P/E ratio of -3.45 and a beta of 1.82.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). MaxLinear had a negative net margin of 68.01% and a negative return on equity of 21.94%. The firm had revenue of $95.93 million for the quarter, compared to analyst estimates of $95.32 million. During the same period in the prior year, the firm posted ($0.21) earnings per share. The company’s quarterly revenue was up .7% compared to the same quarter last year. Equities research analysts predict that MaxLinear will post -0.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MXL. The Manufacturers Life Insurance Company boosted its position in shares of MaxLinear by 3,698.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,525,419 shares of the semiconductor company’s stock valued at $30,173,000 after acquiring an additional 1,485,256 shares during the period. Point72 Hong Kong Ltd acquired a new stake in MaxLinear in the 4th quarter worth about $25,659,000. Schonfeld Strategic Advisors LLC bought a new stake in MaxLinear in the 4th quarter valued at about $25,027,000. Point72 Asset Management L.P. boosted its holdings in MaxLinear by 1,813.5% in the 4th quarter. Point72 Asset Management L.P. now owns 1,256,300 shares of the semiconductor company’s stock valued at $24,850,000 after purchasing an additional 1,190,647 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of MaxLinear by 339.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,250,769 shares of the semiconductor company’s stock worth $24,740,000 after purchasing an additional 966,468 shares in the last quarter. 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.