MaxLinear, Inc (MXL) Price Target Cut to $30.00 by Analysts at Deutsche Bank AG
MaxLinear, Inc (NYSE:MXL) had its price target cut by research analysts at Deutsche Bank AG from $32.00 to $30.00 in a research report issued to clients and investors on Wednesday. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Deutsche Bank AG’s price target indicates a potential upside of 21.51% from the stock’s previous close.
A number of other equities analysts have also weighed in on MXL. Roth Capital lowered their price target on shares of MaxLinear from $38.00 to $33.50 and set a “buy” rating on the stock in a research report on Wednesday. Stifel Nicolaus decreased their target price on shares of MaxLinear from $34.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday. BidaskClub lowered shares of MaxLinear from a “hold” rating to a “sell” rating in a report on Saturday. Needham & Company LLC decreased their target price on shares of MaxLinear from $34.00 to $32.00 and set a “buy” rating on the stock in a report on Monday, July 17th. Finally, Zacks Investment Research lowered shares of MaxLinear from a “strong-buy” rating to a “hold” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. MaxLinear has a consensus rating of “Buy” and an average price target of $31.36.
Shares of MaxLinear (NYSE:MXL) traded down 9.80% during mid-day trading on Wednesday, hitting $22.27. 1,423,066 shares of the stock traded hands. MaxLinear has a 12 month low of $17.13 and a 12 month high of $32.47. The company has a market cap of $1.46 billion, a P/E ratio of 30.89 and a beta of 0.61. The firm has a 50 day moving average of $27.50 and a 200 day moving average of $27.63.
MaxLinear (NYSE:MXL) last posted its quarterly earnings results on Tuesday, August 8th. The semiconductor company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. The firm had revenue of $104.18 million for the quarter, compared to analyst estimates of $107.77 million. MaxLinear had a net margin of 13.12% and a return on equity of 26.77%. MaxLinear’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.50 earnings per share. Equities analysts anticipate that MaxLinear will post $1.42 EPS for the current fiscal year.
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In other MaxLinear news, Director Donald E. Schrock sold 30,766 shares of the business’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $30.92, for a total value of $951,284.72. Following the transaction, the director now directly owns 35,486 shares in the company, valued at approximately $1,097,227.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Albert J. Moyer sold 21,149 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $31.86, for a total transaction of $673,807.14. Following the completion of the transaction, the director now owns 75,857 shares in the company, valued at $2,416,804.02. The disclosure for this sale can be found here. Insiders sold a total of 276,004 shares of company stock worth $8,638,836 over the last quarter. 11.92% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new stake in MaxLinear during the fourth quarter worth about $354,000. Dimensional Fund Advisors LP increased its stake in MaxLinear by 30.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 915,588 shares of the semiconductor company’s stock worth $19,960,000 after buying an additional 212,937 shares during the period. Guggenheim Capital LLC increased its stake in MaxLinear by 22.0% in the fourth quarter. Guggenheim Capital LLC now owns 27,090 shares of the semiconductor company’s stock worth $591,000 after buying an additional 4,880 shares during the period. Norges Bank bought a new stake in MaxLinear during the fourth quarter worth about $1,044,000. Finally, Teachers Advisors LLC increased its stake in MaxLinear by 12.8% in the fourth quarter. Teachers Advisors LLC now owns 627,576 shares of the semiconductor company’s stock worth $13,681,000 after buying an additional 71,072 shares during the period. 85.44% of the stock is currently owned by institutional investors and hedge funds.
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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