MaxLinear (NASDAQ:MXL) Sets New 1-Year Low Following Analyst Downgrade

MaxLinear, Inc. (NASDAQ:MXL) shares hit a new 52-week low during trading on Wednesday after Loop Capital lowered their price target on the stock from $18.00 to $10.00. Loop Capital currently has a hold rating on the stock. MaxLinear traded as low as $9.52 and last traded at $9.99, with a volume of 1241256 shares trading hands. The stock had previously closed at $10.05.

Other analysts have also issued research reports about the company. Benchmark restated a “buy” rating and issued a $20.00 price objective on shares of MaxLinear in a research note on Thursday, April 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a research report on Thursday, January 30th. Susquehanna dropped their price objective on shares of 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 upped their price target on shares of MaxLinear from $25.00 to $27.50 and gave the company an “outperform” rating in a research note on Monday, January 6th. Finally, 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, January 30th. 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.com, MaxLinear currently has an average rating of “Hold” and an average target price of $19.06.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Aster Capital Management DIFC Ltd acquired a new stake in MaxLinear during the fourth quarter worth approximately $34,000. Pacer Advisors Inc. increased its position in shares of 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 purchasing an additional 443 shares during the period. R Squared Ltd acquired a new position in MaxLinear in the fourth quarter valued at about $45,000. Wealthfront Advisers LLC acquired a new stake in MaxLinear during the fourth quarter worth about $45,000. Finally, Larson Financial Group LLC increased its holdings in MaxLinear by 3,092.0% in the 4th quarter. Larson Financial Group LLC now owns 2,809 shares of the semiconductor company’s stock valued at $56,000 after buying an additional 2,721 shares during the period. 90.79% of the stock is owned by institutional investors.

MaxLinear Stock Up 1.1 %

The firm’s 50-day moving average price is $11.58 and its 200 day moving average price is $15.63. The company has a current ratio of 1.77, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $854.80 million, a price-to-earnings ratio of -3.45 and a beta of 1.82.

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

About MaxLinear

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.