Stifel Nicolaus Issues Pessimistic Forecast for MaxLinear (NASDAQ:MXL) Stock Price

MaxLinear (NASDAQ:MXL) had its target price lowered by Stifel Nicolaus from $26.00 to $16.00 in a report released on Thursday,Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

A number of other research analysts have also recently weighed in on the company. Wells Fargo & Company raised their price target on MaxLinear from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Northland Securities upped their price target on shares of MaxLinear from $25.00 to $27.50 and gave the company an “outperform” rating in a report on Monday, January 6th. Benchmark dropped their price objective on shares of MaxLinear from $28.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday. Susquehanna lowered their target price on MaxLinear from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Finally, Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, MaxLinear currently has a consensus rating of “Hold” and a consensus price target of $22.36.

MaxLinear Stock Performance

NASDAQ:MXL opened at $10.22 on Thursday. The company has a quick ratio of 1.28, a current ratio of 1.77 and a debt-to-equity ratio of 0.24. MaxLinear has a fifty-two week low of $8.35 and a fifty-two week high of $26.59. The firm’s fifty day simple moving average is $12.97 and its 200-day simple moving average is $15.89. The stock has a market cap of $864.96 million, a PE ratio of -3.49 and a beta of 1.82.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.14). MaxLinear had a negative net margin of 68.01% and a negative return on equity of 21.94%. Analysts expect that MaxLinear will post -0.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MaxLinear

Several hedge funds have recently made changes to their positions in MXL. State Street Corp boosted its stake in MaxLinear by 5.1% in the 3rd quarter. State Street Corp now owns 4,123,419 shares of the semiconductor company’s stock worth $59,707,000 after buying an additional 198,791 shares during the last quarter. Geode Capital Management LLC grew its holdings in MaxLinear by 0.4% in the third quarter. Geode Capital Management LLC now owns 1,805,722 shares of the semiconductor company’s stock valued at $26,152,000 after purchasing an additional 6,420 shares during the period. The Manufacturers Life Insurance Company increased its position in MaxLinear by 3,698.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,525,419 shares of the semiconductor company’s stock worth $30,173,000 after purchasing an additional 1,485,256 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in MaxLinear during the fourth quarter worth approximately $25,659,000. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in shares of MaxLinear by 10.0% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,268,857 shares of the semiconductor company’s stock valued at $25,098,000 after purchasing an additional 115,867 shares during the last quarter. Institutional investors and hedge funds own 90.79% of the company’s stock.

MaxLinear Company Profile

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.