MaxLinear (NYSE:MXL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “MaxLinear is a provider of radio-frequency analog and mixed signal semiconductor SoC solutions for broadband communication applications offering small silicon die-size, and low power consumption. The Company’s RF receiver products capture and process digital and analog broadband signals to be decoded for various applications. These products include both RF receivers and RF receiver systems-on-chip (SoCs), which incorporate the Company’s integrated radio system architecture and the functionality necessary to demodulate broadband signals. MaxLinear’s current products enable the display of broadband video in a wide range of electronic devices, including cable and terrestrial set top boxes, digital televisions, mobile handsets, personal computers, netbooks, and in-vehicle entertainment devices. MaxLinear is based in Carlsbad, California. “
A number of other research firms have also issued reports on MXL. Deutsche Bank lowered MaxLinear from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a report on Wednesday, May 9th. Stifel Nicolaus reduced their price objective on shares of MaxLinear from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, May 9th. Roth Capital restated a “neutral” rating and issued a $20.00 price objective (down previously from $27.00) on shares of MaxLinear in a research report on Monday, June 11th. William Blair began coverage on shares of MaxLinear in a research report on Monday, June 4th. They issued an “outperform” rating for the company. Finally, ValuEngine downgraded shares of MaxLinear from a “hold” rating to a “sell” rating in a research report on Wednesday, May 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $25.00.
NYSE MXL opened at $18.41 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.06 and a current ratio of 2.62. MaxLinear has a 52-week low of $15.39 and a 52-week high of $28.06. The stock has a market cap of $1.27 billion, a P/E ratio of 16.96, a P/E/G ratio of 1.38 and a beta of 0.88.
MaxLinear (NYSE:MXL) last released its quarterly earnings results on Tuesday, August 7th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.03. MaxLinear had a positive return on equity of 19.00% and a negative net margin of 9.37%. The firm had revenue of $101.53 million for the quarter. analysts predict that MaxLinear will post 0.67 earnings per share for the current fiscal year.
In other news, CEO Kishore Seendripu acquired 27,100 shares of MaxLinear stock in a transaction that occurred on Friday, August 10th. The stock was purchased at an average price of $18.47 per share, for a total transaction of $500,537.00. Following the completion of the transaction, the chief executive officer now directly owns 130,474 shares in the company, valued at $2,409,854.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 11.47% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. lifted its position in shares of MaxLinear by 62.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 7,599 shares of the semiconductor company’s stock valued at $173,000 after acquiring an additional 2,911 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of MaxLinear during the 2nd quarter valued at approximately $161,000. Profund Advisors LLC lifted its position in shares of MaxLinear by 34.4% during the 1st quarter. Profund Advisors LLC now owns 12,509 shares of the semiconductor company’s stock valued at $285,000 after acquiring an additional 3,205 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of MaxLinear during the 2nd quarter valued at approximately $204,000. Finally, OppenheimerFunds Inc. lifted its position in shares of MaxLinear by 29.0% during the 2nd quarter. OppenheimerFunds Inc. now owns 13,990 shares of the semiconductor company’s stock valued at $218,000 after acquiring an additional 3,146 shares during the period. Hedge funds and other institutional investors own 94.93% of the company’s stock.
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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