MaxLinear Inc. (MXL) Cut to Hold at Zacks Investment Research
MaxLinear Inc. (NYSE:MXL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
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 equities analysts have also recently weighed in on MXL. Needham & Company LLC restated a “buy” rating and issued a $21.00 price target (up previously from $20.00) on shares of MaxLinear in a report on Sunday, July 10th. Deutsche Bank AG restated a “buy” rating and issued a $30.00 price target (up previously from $22.00) on shares of MaxLinear in a report on Monday, July 25th. Finally, Stifel Nicolaus decreased their price target on MaxLinear from $26.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, August 9th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. MaxLinear has a consensus rating of “Buy” and a consensus price target of $21.00.
MaxLinear (NYSE:MXL) opened at 19.77 on Wednesday. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 35.12 and a beta of 0.48. MaxLinear has a 12 month low of $12.67 and a 12 month high of $22.50. The stock’s 50 day moving average is $19.71 and its 200-day moving average is $19.22.
MaxLinear (NYSE:MXL) last released its quarterly earnings results on Monday, August 8th. The company reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.06. The firm earned $101.70 million during the quarter, compared to analysts’ expectations of $101.94 million. MaxLinear had a return on equity of 35.97% and a net margin of 8.72%. MaxLinear’s quarterly revenue was up 43.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 EPS. On average, equities research analysts expect that MaxLinear will post $1.74 earnings per share for the current year.
In other MaxLinear news, VP Brendan Walsh sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $18.04, for a total value of $225,500.00. Following the completion of the sale, the vice president now owns 162,210 shares in the company, valued at approximately $2,926,268.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.48% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its position in MaxLinear by 137.1% in the third quarter. BNP Paribas Arbitrage SA now owns 5,143 shares of the company’s stock valued at $104,000 after buying an additional 2,974 shares during the period. Howe & Rusling Inc. bought a new position in MaxLinear during the second quarter valued at approximately $131,000. Teacher Retirement System of Texas increased its position in MaxLinear by 22.9% in the second quarter. Teacher Retirement System of Texas now owns 7,770 shares of the company’s stock valued at $140,000 after buying an additional 1,446 shares during the period. Acrospire Investment Management LLC increased its position in MaxLinear by 356.0% in the second quarter. Acrospire Investment Management LLC now owns 11,272 shares of the company’s stock valued at $203,000 after buying an additional 8,800 shares during the period. Finally, Winslow Evans & Crocker Inc. bought a new position in MaxLinear during the second quarter valued at approximately $227,000. Institutional investors and hedge funds own 75.96% of the company’s stock.
MaxLinear Company Profile
MaxLinear, Inc is a provider of integrated, radio-frequency (RF) and mixed-signal integrated circuits for broadband communications and data center, metro, and long-haul transport network applications. The Company’s RF receiver products capture and process digital and analog broadband signals to be decoded for various applications.
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