MaxLinear, Inc (NYSE:MXL) had its price target dropped by investment analysts at Roth Capital from $38.00 to $33.50 in a report released on Wednesday. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Roth Capital’s price target suggests a potential upside of 54.38% from the company’s previous close.

A number of other research analysts have also recently issued reports on the stock. Stifel Nicolaus decreased their price objective on shares of MaxLinear from $34.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday. Zacks Investment Research cut shares of MaxLinear from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. BidaskClub cut shares of MaxLinear from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Deutsche Bank AG decreased their price objective on shares of MaxLinear from $33.00 to $32.00 and set a “buy” rating on the stock in a research note on Friday, July 21st. Finally, Needham & Company LLC decreased their price objective on shares of MaxLinear from $34.00 to $32.00 and set a “buy” rating on the stock in a research note on Monday, July 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $31.36.

MaxLinear (MXL) traded down 2.03% during midday trading on Wednesday, hitting $21.70. The stock had a trading volume of 1,540,299 shares. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 39.24 and a beta of 0.61. The company’s 50 day moving average is $26.91 and its 200 day moving average is $27.60. MaxLinear has a 1-year low of $17.61 and a 1-year high of $32.47.

MaxLinear (NYSE:MXL) last announced its quarterly earnings data on Tuesday, August 8th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.04. The business had revenue of $104.18 million for the quarter, compared to analysts’ expectations of $107.77 million. MaxLinear had a net margin of 9.95% and a return on equity of 22.29%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $0.50 earnings per share. On average, equities analysts anticipate that MaxLinear will post $1.39 earnings per share for the current fiscal year.

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In other MaxLinear news, Director Steven Craddock sold 20,000 shares of the business’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $30.86, for a total transaction of $617,200.00. Following the sale, the director now owns 73,752 shares of the company’s stock, valued at $2,275,986.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Madhukar Reddy sold 60,000 shares of the business’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $31.68, for a total transaction of $1,900,800.00. Following the sale, the vice president now directly owns 245,819 shares in the company, valued at approximately $7,787,545.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 276,004 shares of company stock worth $8,638,836. Insiders own 11.92% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. LS Investment Advisors LLC bought a new stake in MaxLinear during the second quarter worth $134,000. Ameritas Investment Partners Inc. bought a new stake in MaxLinear during the first quarter worth $135,000. D.A. Davidson & CO. boosted its stake in MaxLinear by 0.9% in the second quarter. D.A. Davidson & CO. now owns 5,298 shares of the semiconductor company’s stock worth $147,000 after buying an additional 45 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in MaxLinear by 10.8% in the first quarter. Envestnet Asset Management Inc. now owns 6,404 shares of the semiconductor company’s stock worth $179,000 after buying an additional 624 shares during the last quarter. Finally, Pinebridge Investments L.P. bought a new stake in MaxLinear during the second quarter worth $192,000. 85.44% of the stock is currently owned by hedge funds and other institutional investors.

About MaxLinear

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.

Analyst Recommendations for MaxLinear (NYSE:MXL)

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