MaxLinear (NYSE:MXL) Cut to Sell at StockNews.com

MaxLinear (NYSE:MXL) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

Other research analysts have also issued research reports about the stock. Wells Fargo & Company lowered shares of MaxLinear from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $35.00 to $25.00 in a research note on Wednesday, January 3rd. Northland Securities raised shares of MaxLinear from a “market perform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research report on Thursday, April 4th. Benchmark reissued a “buy” rating and issued a $28.00 price objective on shares of MaxLinear in a research report on Thursday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $25.00 price objective on shares of MaxLinear in a research report on Thursday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, MaxLinear currently has an average rating of “Hold” and a consensus target price of $26.09.

MaxLinear Trading Down 1.2 %

NYSE MXL traded down $0.25 during trading on Thursday, reaching $20.68. 2,122,366 shares of the stock traded hands, compared to its average volume of 783,763. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -23.24 and a beta of 1.98. The stock’s 50-day moving average price is $19.89 and its 200 day moving average price is $19.95. The company has a quick ratio of 1.75, a current ratio of 2.20 and a debt-to-equity ratio of 0.18. MaxLinear has a fifty-two week low of $13.43 and a fifty-two week high of $35.09.

MaxLinear (NYSE:MXL) last announced its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.02. MaxLinear had a negative net margin of 10.55% and a positive return on equity of 4.77%. The firm had revenue of $95.27 million for the quarter, compared to analyst estimates of $94.99 million. Analysts predict that MaxLinear will post -0.8 EPS for the current year.

Institutional Trading of MaxLinear

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Simplicity Wealth LLC bought a new stake in MaxLinear during the first quarter worth $349,000. Assenagon Asset Management S.A. increased its holdings in shares of MaxLinear by 9.2% in the first quarter. Assenagon Asset Management S.A. now owns 346,873 shares of the semiconductor company’s stock valued at $6,476,000 after purchasing an additional 29,102 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new position in shares of MaxLinear in the first quarter valued at about $294,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of MaxLinear by 291.5% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 120,873 shares of the semiconductor company’s stock valued at $2,873,000 after acquiring an additional 90,000 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of MaxLinear by 8.5% in the fourth quarter. Vanguard Group Inc. now owns 11,586,273 shares of the semiconductor company’s stock valued at $275,406,000 after acquiring an additional 903,235 shares in the last quarter. 90.79% of the stock is owned by 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.