Zacks Investment Research upgraded shares of MaxLinear (NYSE:MXL) from a sell rating to a hold rating in a research report released on Wednesday morning.
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. “
Other equities analysts also recently issued reports about the company. Needham & Company LLC lowered their price target on MaxLinear from $22.00 to $20.00 and set a buy rating for the company in a report on Wednesday, August 8th. Stifel Nicolaus lowered their price target on MaxLinear from $31.00 to $25.00 and set a $17.41 rating for the company in a report on Thursday, July 19th. Finally, ValuEngine raised MaxLinear from a strong sell rating to a sell rating in a report on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. MaxLinear presently has an average rating of Hold and an average price target of $25.00.
Shares of MaxLinear stock opened at $16.41 on Wednesday. MaxLinear has a one year low of $15.39 and a one year high of $28.06. The stock has a market cap of $1.36 billion, a PE ratio of 13.91, a P/E/G ratio of 1.48 and a beta of 0.91. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.62 and a quick ratio of 2.06.
MaxLinear (NYSE:MXL) last announced its quarterly earnings results on Tuesday, August 7th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.03. The firm had revenue of $101.53 million during the quarter. MaxLinear had a positive return on equity of 19.00% and a negative net margin of 9.37%. On average, sell-side analysts predict that MaxLinear will post 0.67 earnings per share for the current year.
In other news, CEO Kishore Seendripu acquired 27,100 shares of MaxLinear stock in a transaction on Friday, August 10th. The stock was bought at an average price of $18.47 per share, for a total transaction of $500,537.00. Following the completion of the purchase, the chief executive officer now owns 130,474 shares in the company, valued at $2,409,854.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 11.47% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Envestnet Asset Management Inc. lifted its stake in MaxLinear by 62.1% in the first quarter. Envestnet Asset Management Inc. now owns 7,599 shares of the semiconductor company’s stock valued at $173,000 after buying an additional 2,911 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in MaxLinear in the second quarter valued at approximately $161,000. Profund Advisors LLC lifted its stake in MaxLinear by 34.4% in the first quarter. Profund Advisors LLC now owns 12,509 shares of the semiconductor company’s stock valued at $285,000 after buying an additional 3,205 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in MaxLinear in the second quarter valued at approximately $204,000. Finally, OppenheimerFunds Inc. lifted its stake in MaxLinear by 29.0% in the second quarter. OppenheimerFunds Inc. now owns 13,990 shares of the semiconductor company’s stock valued at $218,000 after buying an additional 3,146 shares during the last quarter. Institutional investors own 94.88% 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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