Needham & Company LLC Lowers MaxLinear, Inc (MXL) Price Target to $32.00

MaxLinear, Inc (NYSE:MXL) had its price objective decreased by Needham & Company LLC from $34.00 to $32.00 in a research report released on Monday, July 17th, Marketbeat Ratings reports. Needham & Company LLC currently has a buy rating on the semiconductor company’s stock.

Several other brokerages have also issued reports on MXL. Zacks Investment Research raised shares of MaxLinear from a sell rating to a hold rating and set a $37.00 price target for the company in a report on Friday, June 9th. Stifel Nicolaus boosted their price target on shares of MaxLinear from $34.00 to $36.00 and gave the company a buy rating in a report on Wednesday, May 10th. Finally, BidaskClub lowered shares of MaxLinear from a buy rating to a hold rating in a report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $31.36.

MaxLinear (MXL) traded down 2.03% during midday trading on Monday, hitting $21.70. The stock had a trading volume of 1,535,604 shares. The company has a market cap of $1.44 billion, a P/E ratio of 39.24 and a beta of 0.61. MaxLinear has a one year low of $17.61 and a one year high of $32.47. The stock’s 50-day moving average is $26.91 and its 200-day moving average is $27.60.

MaxLinear (NYSE:MXL) last released its earnings results on Tuesday, August 8th. The semiconductor company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. MaxLinear had a net margin of 9.95% and a return on equity of 22.29%. The firm had revenue of $104.18 million during the quarter, compared to analyst estimates of $107.77 million. During the same quarter in the previous year, the business earned $0.50 EPS. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. Equities analysts predict that MaxLinear will post $1.39 EPS for the current fiscal year.

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In other news, Director Steven Craddock sold 20,000 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $30.86, for a total value of $617,200.00. Following the sale, the director now directly owns 73,752 shares of the company’s stock, valued at approximately $2,275,986.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Albert J. Moyer sold 21,149 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $31.86, for a total transaction of $673,807.14. Following the completion of the sale, the director now directly owns 75,857 shares in the company, valued at $2,416,804.02. The disclosure for this sale can be found here. Insiders have sold a total of 276,004 shares of company stock worth $8,638,836 over the last three months. Insiders own 11.92% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in MaxLinear by 94.6% in the second quarter. BlackRock Inc. now owns 6,503,231 shares of the semiconductor company’s stock valued at $181,375,000 after buying an additional 3,160,655 shares in the last quarter. Vanguard Group Inc. raised its position in shares of MaxLinear by 23.5% in the second quarter. Vanguard Group Inc. now owns 5,095,203 shares of the semiconductor company’s stock worth $142,105,000 after buying an additional 970,197 shares during the last quarter. Wellington Management Group LLP raised its position in shares of MaxLinear by 8.5% in the first quarter. Wellington Management Group LLP now owns 4,321,928 shares of the semiconductor company’s stock worth $121,229,000 after buying an additional 339,530 shares during the last quarter. William Blair Investment Management LLC raised its position in shares of MaxLinear by 750.3% in the first quarter. William Blair Investment Management LLC now owns 3,752,779 shares of the semiconductor company’s stock worth $105,265,000 after buying an additional 3,311,413 shares during the last quarter. Finally, Macquarie Group Ltd. raised its position in shares of MaxLinear by 6.8% in the first quarter. Macquarie Group Ltd. now owns 2,575,261 shares of the semiconductor company’s stock worth $72,236,000 after buying an additional 164,089 shares during the last quarter. 85.44% of the stock is currently owned by hedge funds and other institutional investors.

MaxLinear Company Profile

MaxLinear, Inc is a provider of radio frequency (RF) and mixed-signal integrated circuits for cable and satellite broadband communications and the connected home, and wired and wireless infrastructure markets. The Company’s RF receiver products capture and process digital and analog broadband signals to be decoded for various applications.

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