MaxLinear (MXL) Shares Down 9% After Analyst Downgrade

MaxLinear, Inc. (NYSE:MXL) was down 9% during mid-day trading on Wednesday after Needham & Company LLC lowered their price target on the stock from $32.00 to $30.00. Needham & Company LLC currently has a buy rating on the stock. MaxLinear traded as low as $23.00 and last traded at $23.22. Approximately 2,463,083 shares were traded during trading, an increase of 277% from the average daily volume of 653,809 shares. The stock had previously closed at $25.52.

Several other research analysts have also recently weighed in on MXL. Zacks Investment Research raised shares of MaxLinear from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Roth Capital reaffirmed a “buy” rating and issued a $33.00 price target on shares of MaxLinear in a report on Friday, December 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $31.20.

In other news, VP Brendan Walsh sold 25,018 shares of the company’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $28.00, for a total value of $700,504.00. Following the transaction, the vice president now owns 155,441 shares of the company’s stock, valued at $4,352,348. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 11.92% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in MaxLinear by 3.3% in the fourth quarter. BlackRock Inc. now owns 7,561,303 shares of the semiconductor company’s stock valued at $199,772,000 after acquiring an additional 239,077 shares during the last quarter. Vanguard Group Inc. increased its stake in MaxLinear by 23.5% in the second quarter. Vanguard Group Inc. now owns 5,095,203 shares of the semiconductor company’s stock valued at $142,105,000 after acquiring an additional 970,197 shares during the last quarter. Macquarie Group Ltd. increased its stake in MaxLinear by 20.3% in the third quarter. Macquarie Group Ltd. now owns 3,225,049 shares of the semiconductor company’s stock valued at $76,595,000 after acquiring an additional 544,304 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in MaxLinear by 18.2% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,974,675 shares of the semiconductor company’s stock valued at $52,171,000 after acquiring an additional 303,350 shares during the last quarter. Finally, Elk Creek Partners LLC increased its stake in MaxLinear by 26.8% in the third quarter. Elk Creek Partners LLC now owns 1,957,545 shares of the semiconductor company’s stock valued at $46,492,000 after acquiring an additional 414,175 shares during the last quarter. 87.99% of the stock is currently owned by institutional investors and hedge funds.

The company has a market capitalization of $1,550.00, a P/E ratio of 89.31 and a beta of 0.41. The company has a current ratio of 2.23, a quick ratio of 1.58 and a debt-to-equity ratio of 0.93.

MaxLinear (NYSE:MXL) last released its earnings results on Tuesday, February 13th. The semiconductor company reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.01. The business had revenue of $113.72 million for the quarter, compared to analysts’ expectations of $114.01 million. MaxLinear had a return on equity of 20.96% and a net margin of 4.73%. research analysts expect that MaxLinear, Inc. will post 1.05 EPS for the current year.

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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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