MaxLinear (NYSE:MXL) Price Target Cut to $58.00 by Analysts at Susquehanna

MaxLinear (NYSE:MXLGet Rating) had its price objective lowered by Susquehanna from $70.00 to $58.00 in a report released on Friday morning, The Fly reports.

A number of other research firms also recently commented on MXL. Benchmark raised their price objective on MaxLinear from $68.00 to $75.00 in a report on Thursday, February 3rd. Craig Hallum dropped their target price on MaxLinear from $90.00 to $75.00 in a report on Monday, April 11th. Wells Fargo & Company upgraded MaxLinear from an equal weight rating to an overweight rating and set a $66.00 target price on the stock in a report on Thursday. StockNews.com assumed coverage on MaxLinear in a report on Thursday, March 31st. They set a buy rating on the stock. Finally, Zacks Investment Research upgraded MaxLinear from a hold rating to a strong-buy rating and set a $69.00 target price on the stock in a report on Wednesday, February 9th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Buy and an average target price of $69.36.

MXL opened at $47.87 on Friday. The company has a quick ratio of 1.31, a current ratio of 1.95 and a debt-to-equity ratio of 0.63. The firm has a market cap of $3.68 billion, a P/E ratio of 53.19, a PEG ratio of 0.75 and a beta of 1.99. MaxLinear has a 52 week low of $31.76 and a 52 week high of $77.89. The business’s fifty day simple moving average is $54.02 and its 200 day simple moving average is $61.18.

MaxLinear (NYSE:MXLGet Rating) last released its earnings results on Wednesday, February 2nd. The semiconductor company reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. MaxLinear had a return on equity of 42.02% and a net margin of 7.58%. The firm had revenue of $247.90 million for the quarter, compared to the consensus estimate of $244.71 million. During the same period in the prior year, the business posted $0.12 earnings per share. The firm’s revenue for the quarter was up 27.3% compared to the same quarter last year. As a group, equities analysts expect that MaxLinear will post 2.94 EPS for the current fiscal year.

In other news, Director Daniel A. Artusi sold 12,229 shares of MaxLinear stock in a transaction that occurred on Wednesday, February 9th. The stock was sold at an average price of $64.95, for a total value of $794,273.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP William Torgerson sold 15,704 shares of MaxLinear stock in a transaction that occurred on Monday, March 14th. The stock was sold at an average price of $52.68, for a total value of $827,286.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,959 shares of company stock valued at $2,521,240. 8.82% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in MXL. Baillie Gifford & Co. acquired a new position in MaxLinear during the 4th quarter valued at approximately $30,000. USA Financial Portformulas Corp acquired a new position in MaxLinear during the 4th quarter valued at approximately $39,000. Cornerstone Advisory LLC acquired a new position in MaxLinear during the 4th quarter valued at approximately $44,000. Lindbrook Capital LLC acquired a new position in MaxLinear during the 4th quarter valued at approximately $80,000. Finally, Exchange Traded Concepts LLC boosted its position in MaxLinear by 12.0% during the 1st quarter. Exchange Traded Concepts LLC now owns 2,529 shares of the semiconductor company’s stock valued at $148,000 after purchasing an additional 270 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

About MaxLinear (Get Rating)

MaxLinear, Inc provides radiofrequency (RF), high-performance analog, and mixed-signal communications systems-on-chip solutions (SoCs) for the connected home, wired and wireless infrastructure, and industrial and multi-market applications worldwide. Its products integrate various portions of a high-speed communication system, including RF, high-performance analog, mixed-signal, digital signal processing, security engines, data compression, networking layers, and power management.

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