Needham & Company LLC Cuts MaxLinear (MXL) Price Target to $30.00

MaxLinear (NYSE:MXL) had its price target lowered by analysts at Needham & Company LLC from $32.00 to $30.00 in a note issued to investors on Wednesday. The firm presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s target price suggests a potential upside of 17.55% from the company’s previous close.

Several other analysts have also commented on the company. Zacks Investment Research raised MaxLinear from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Roth Capital reissued a “buy” rating and issued a $33.00 price objective on shares of MaxLinear in a report on Friday, December 29th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $31.20.

Shares of MaxLinear (NYSE MXL) opened at $25.52 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.23 and a quick ratio of 1.58. MaxLinear has a 1-year low of $20.38 and a 1-year high of $32.47. The company has a market capitalization of $1,690.02, a P/E ratio of 98.16 and a beta of 0.41.

MaxLinear (NYSE:MXL) last issued its quarterly earnings data on Tuesday, February 13th. The semiconductor company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.37 by $0.01. MaxLinear had a return on equity of 20.96% and a net margin of 4.73%. equities research analysts anticipate that MaxLinear will post 1.05 EPS for the current year.

In other MaxLinear news, VP Brendan Walsh sold 25,018 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $28.00, for a total value of $700,504.00. Following the sale, the vice president now directly owns 155,441 shares of the company’s stock, valued at $4,352,348. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 11.92% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. lifted its position in shares of MaxLinear by 9.5% in the second quarter. Ameritas Investment Partners Inc. now owns 5,283 shares of the semiconductor company’s stock valued at $147,000 after acquiring an additional 460 shares in the last quarter. LS Investment Advisors LLC lifted its position in shares of MaxLinear by 59.4% in the third quarter. LS Investment Advisors LLC now owns 7,638 shares of the semiconductor company’s stock valued at $181,000 after acquiring an additional 2,846 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of MaxLinear in the third quarter valued at approximately $205,000. GSA Capital Partners LLP purchased a new position in shares of MaxLinear in the second quarter valued at approximately $208,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of MaxLinear in the third quarter valued at approximately $229,000. Institutional investors and hedge funds own 87.99% of the company’s stock.

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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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