MaxLinear (NASDAQ:MXL) Upgraded to Strong-Buy at Zacks Research

MaxLinear (NASDAQ:MXL) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday, Zacks reports.

Several other research firms have also recently commented on MXL. Needham & Company LLC boosted their target price on MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Morgan Stanley set a $125.00 price target on shares of MaxLinear in a research note on Monday, September 14th. Roth Capital increased their price target on shares of MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a research report on Thursday, October 15th. Finally, Wells Fargo & Company dropped their price objective on shares of MaxLinear from $95.00 to $78.00 and set an “equal weight” rating for the company in a report on Tuesday, October 20th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, MaxLinear presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.30.

MaxLinear Trading Down 4.7%

Shares of MXL stock opened at $71.61 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.22 and a quick ratio of 1.57. MaxLinear has a 1 year low of $12.77 and a 1 year high of $128.30. The stock has a market capitalization of $6.49 billion, a price-to-earnings ratio of 119.27 and a beta of 3.93. The company’s fifty day simple moving average is $77.15 and its two-hundred day simple moving average is $59.12.

MaxLinear (NASDAQ:MXL) last issued its earnings results on Thursday, October 22nd. The semiconductor company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.56 by $0.06. MaxLinear had a positive return on equity of 12.89% and a negative net margin of 4.45%. The business had revenue of $218.06 million during the quarter, compared to the consensus estimate of $214.95 million. During the same quarter last year, the company earned $0.14 EPS. The firm’s revenue was up 72.4% compared to the same quarter last year. As a group, analysts anticipate that MaxLinear will post 1.10 earnings per share for the current year.

Insider Transactions at MaxLinear

In other MaxLinear news, CEO Kishore Seendripu sold 351,454 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $85.95, for a total transaction of $30,207,471.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 7.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MaxLinear

A number of institutional investors have recently made changes to their positions in MXL. BlackRock Inc. purchased a new position in MaxLinear in the 2nd quarter worth $1,754,062,000. The Manufacturers Life Insurance Company bought a new stake in MaxLinear in the second quarter worth $165,221,000. AIGH Capital Management LLC bought a new stake in MaxLinear in the second quarter worth $104,729,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in MaxLinear in the second quarter worth $81,056,000. Finally, Bank of New York Mellon Corp purchased a new stake in MaxLinear during the second quarter valued at about $65,213,000. Hedge funds and other institutional investors own 90.79% of the company’s stock.

About MaxLinear

MaxLinear, Inc is a fabless semiconductor company that designs, develops and sells integrated circuits and related solutions for broadband communications, wired and wireless infrastructure, data centers, industrial applications and consumer electronics. Its products are used by equipment manufacturers and service providers to support the transmission, processing and management of voice, video and data.

The company’s portfolio includes broadband access system-on-chip products, Ethernet transceivers and controllers, high-speed interconnect and communications devices, radio-frequency and analog products, optical and copper connectivity solutions, and power-management components.