MaxLinear (NASDAQ:MXL) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of MaxLinear (NASDAQ:MXL) in a research note released on Thursday morning,Benzinga reports.

Several other analysts have also recently weighed in on MXL. Craig Hallum lowered their price objective 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. Susquehanna boosted their target price on MaxLinear from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Wells Fargo & Company lifted their price target on MaxLinear from $14.00 to $19.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Northland Securities raised their target price 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, Benchmark increased their price objective on shares of MaxLinear from $22.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, MaxLinear currently has a consensus rating of “Hold” and a consensus target price of $25.50.

MaxLinear Stock Down 19.8 %

MaxLinear stock opened at $17.47 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.95. The business has a 50-day simple moving average of $19.80 and a 200 day simple moving average of $16.44. MaxLinear has a 52 week low of $11.08 and a 52 week high of $26.59.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.14). MaxLinear had a negative return on equity of 21.15% and a negative net margin of 68.01%. As a group, sell-side analysts predict that MaxLinear will post -0.21 EPS for the current fiscal year.

Insider Buying and Selling

In other MaxLinear news, Director Ted L. Tewksbury III sold 5,800 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $15.36, for a total value of $89,088.00. Following the completion of the sale, the director now directly owns 69,717 shares in the company, valued at $1,070,853.12. This trade represents a 7.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven G. Litchfield sold 32,000 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $20.35, for a total value of $651,200.00. Following the transaction, the insider now owns 365,868 shares in the company, valued at approximately $7,445,413.80. This trade represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,900 shares of company stock valued at $927,278 in the last 90 days. Company insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On MaxLinear

Several hedge funds and other institutional investors have recently modified their holdings of MXL. State Street Corp raised its holdings in shares of MaxLinear by 5.1% during the third quarter. State Street Corp now owns 4,123,419 shares of the semiconductor company’s stock worth $59,707,000 after purchasing an additional 198,791 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of MaxLinear by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,805,722 shares of the semiconductor company’s stock worth $26,152,000 after buying an additional 6,420 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings in MaxLinear by 10.0% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,268,857 shares of the semiconductor company’s stock valued at $25,098,000 after purchasing an additional 115,867 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in MaxLinear by 339.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,250,769 shares of the semiconductor company’s stock valued at $24,740,000 after buying an additional 966,468 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of MaxLinear by 36.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,089,065 shares of the semiconductor company’s stock worth $15,770,000 after acquiring an additional 291,874 shares during the last quarter. 90.79% of the stock is owned by hedge funds and other institutional investors.

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.