MaxLinear (NYSE:MXL) Downgraded to Sell at Zacks Investment Research

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Zacks Investment Research lowered shares of MaxLinear (NYSE:MXL) from a hold rating to a sell rating in a research report sent to investors on Tuesday, Zacks.com reports.

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 brokerages have also recently commented on MXL. Roth Capital lowered their price target on MaxLinear from $28.00 to $23.00 and set a neutral rating for the company in a research report on Tuesday, June 4th. Deutsche Bank set a $25.00 price target on MaxLinear and gave the stock a hold rating in a research report on Friday, July 26th. Finally, ValuEngine cut MaxLinear from a strong-buy rating to a buy rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $20.80.

Shares of MXL stock opened at $22.07 on Tuesday. MaxLinear has a 1-year low of $14.87 and a 1-year high of $28.70. The stock’s fifty day moving average price is $20.79 and its 200 day moving average price is $23.54. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.58 and a quick ratio of 1.94. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 28.29, a price-to-earnings-growth ratio of 4.24 and a beta of 1.33.

MaxLinear (NYSE:MXL) last announced its earnings results on Thursday, July 25th. The semiconductor company reported $0.11 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.11. MaxLinear had a positive return on equity of 7.16% and a negative net margin of 6.09%. The firm had revenue of $82.50 million for the quarter, compared to the consensus estimate of $82.58 million. During the same period in the previous year, the business earned $0.34 EPS. The firm’s revenue for the quarter was down 18.7% on a year-over-year basis. As a group, equities research analysts anticipate that MaxLinear will post 0.43 earnings per share for the current year.

In other MaxLinear news, VP Brendan Walsh sold 15,000 shares of MaxLinear stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $20.92, for a total transaction of $313,800.00. Following the completion of the sale, the vice president now owns 168,286 shares of the company’s stock, valued at approximately $3,520,543.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Steven G. Litchfield purchased 10,867 shares of the stock in a transaction on Monday, September 16th. The shares were purchased at an average cost of $22.97 per share, with a total value of $249,614.99. Following the transaction, the insider now owns 33,333 shares in the company, valued at approximately $765,659.01. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 126,332 shares of company stock valued at $2,679,119. 9.97% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of the company. Oregon Public Employees Retirement Fund lifted its holdings in shares of MaxLinear by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 24,306 shares of the semiconductor company’s stock valued at $621,000 after buying an additional 439 shares during the period. State of Alaska Department of Revenue raised its holdings in MaxLinear by 2.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 21,872 shares of the semiconductor company’s stock worth $512,000 after purchasing an additional 536 shares during the period. Mason Street Advisors LLC raised its holdings in MaxLinear by 4.3% in the 1st quarter. Mason Street Advisors LLC now owns 20,328 shares of the semiconductor company’s stock worth $519,000 after purchasing an additional 838 shares during the period. Piedmont Investment Advisors Inc. raised its holdings in MaxLinear by 6.4% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 15,894 shares of the semiconductor company’s stock worth $406,000 after purchasing an additional 951 shares during the period. Finally, Truvestments Capital LLC raised its holdings in MaxLinear by 56.3% in the 2nd quarter. Truvestments Capital LLC now owns 3,622 shares of the semiconductor company’s stock worth $85,000 after purchasing an additional 1,305 shares during the period. 90.50% of the stock is owned by institutional investors and hedge funds.

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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