Roth Capital Trims MaxLinear (NYSE:MXL) Target Price to $23.00

MaxLinear (NYSE:MXL) had its price target reduced by investment analysts at Roth Capital from $28.00 to $23.00 in a research report issued to clients and investors on Tuesday, June 4th, The Fly reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. Roth Capital’s target price would indicate a potential upside of 1.23% from the stock’s previous close.

Several other analysts have also recently commented on MXL. Needham & Company LLC restated a “buy” rating on shares of MaxLinear in a research note on Wednesday, February 6th. Zacks Investment Research cut shares of MaxLinear from a “hold” rating to a “sell” rating in a research note on Saturday, February 9th. ValuEngine upgraded shares of MaxLinear from a “hold” rating to a “buy” rating in a research note on Thursday, February 28th. Finally, Wells Fargo & Co initiated coverage on shares of MaxLinear in a research note on Tuesday, May 14th. They issued a “market perform” rating for the company. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $20.80.

MXL stock opened at $22.72 on Tuesday. MaxLinear has a one year low of $14.87 and a one year high of $28.70. The firm has a market cap of $1.59 billion, a PE ratio of 29.13, a PEG ratio of 3.16 and a beta of 1.29. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.44 and a quick ratio of 1.86. The stock has a fifty day moving average price of $22.52.

MaxLinear (NYSE:MXL) last released its earnings results on Wednesday, May 1st. The semiconductor company reported $0.09 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.09. MaxLinear had a negative net margin of 9.17% and a positive return on equity of 8.68%. The company had revenue of $84.64 million during the quarter, compared to analysts’ expectations of $84.44 million. During the same quarter last year, the business earned $0.37 EPS. The business’s revenue was down 23.6% on a year-over-year basis. Equities research analysts forecast that MaxLinear will post 0.57 earnings per share for the current year.

In related news, VP Michael J. Lachance sold 3,495 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $21.90, for a total value of $76,540.50. Following the completion of the sale, the vice president now owns 56,475 shares in the company, valued at $1,236,802.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.97% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in MaxLinear by 6.6% during the 4th quarter. Geode Capital Management LLC now owns 660,461 shares of the semiconductor company’s stock valued at $11,624,000 after acquiring an additional 41,128 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new position in MaxLinear during the 4th quarter valued at about $318,000. Principal Financial Group Inc. increased its holdings in MaxLinear by 1.1% during the 4th quarter. Principal Financial Group Inc. now owns 509,509 shares of the semiconductor company’s stock valued at $8,967,000 after acquiring an additional 5,395 shares in the last quarter. Channing Capital Management LLC increased its holdings in MaxLinear by 128.9% during the 4th quarter. Channing Capital Management LLC now owns 1,256,079 shares of the semiconductor company’s stock valued at $22,107,000 after acquiring an additional 707,366 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in MaxLinear by 41.7% during the 4th quarter. Deutsche Bank AG now owns 369,890 shares of the semiconductor company’s stock valued at $6,509,000 after acquiring an additional 108,920 shares in the last quarter. Hedge funds and other institutional investors own 91.66% of the company’s stock.

MaxLinear Company Profile

MaxLinear, Inc provides radio-frequency (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. The company offers range of semiconductor products, such as RF receivers and RF receiver SoCs, wireless infrastructure backhaul RF receivers and modem SoCs, laser modulator drivers, transimpedance amplifiers, clock and data recovery circuits, interface solutions, power management products, and data encryption and compression products.

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