MaxLinear, Inc (NASDAQ:MXL) Given Consensus Rating of “Hold” by Brokerages

MaxLinear, Inc (NASDAQ:MXL) has been given a consensus rating of “Hold” by the nine analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $19.2857.

A number of equities analysts have recently commented on the stock. Benchmark lifted their target price on shares of MaxLinear from $25.00 to $28.00 and gave the company a “buy” rating in a report on Friday. Williams Trading set a $25.00 price objective on shares of MaxLinear in a research note on Friday, October 24th. Stifel Nicolaus set a $23.00 target price on shares of MaxLinear in a report on Friday, October 24th. Zacks Research lowered MaxLinear from a “strong-buy” rating to a “hold” rating in a report on Monday, September 22nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxLinear in a research note on Wednesday, October 8th.

Insider Buying and Selling at MaxLinear

In related news, Director Daniel A. Artusi sold 20,747 shares of MaxLinear stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $15.39, for a total value of $319,296.33. Following the transaction, the director directly owned 12,141 shares in the company, valued at $186,849.99. This trade represents a 63.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 7.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MaxLinear

A number of large investors have recently bought and sold shares of MXL. Royal Bank of Canada boosted its holdings in shares of MaxLinear by 3.1% in the first quarter. Royal Bank of Canada now owns 72,664 shares of the semiconductor company’s stock valued at $789,000 after acquiring an additional 2,204 shares in the last quarter. AQR Capital Management LLC lifted its position in MaxLinear by 56.0% in the first quarter. AQR Capital Management LLC now owns 296,297 shares of the semiconductor company’s stock valued at $3,218,000 after purchasing an additional 106,355 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in MaxLinear by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,437 shares of the semiconductor company’s stock valued at $515,000 after purchasing an additional 2,043 shares in the last quarter. Goldman Sachs Group Inc. increased its position in MaxLinear by 0.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 535,230 shares of the semiconductor company’s stock worth $5,813,000 after purchasing an additional 2,039 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of MaxLinear by 23.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 182,362 shares of the semiconductor company’s stock worth $1,980,000 after buying an additional 35,152 shares in the last quarter. Hedge funds and other institutional investors own 90.79% of the company’s stock.

MaxLinear Stock Up 0.6%

MaxLinear stock opened at $19.30 on Tuesday. The company has a market capitalization of $1.69 billion, a P/E ratio of -9.23 and a beta of 1.77. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.55. MaxLinear has a fifty-two week low of $8.35 and a fifty-two week high of $25.73. The stock has a 50-day simple moving average of $16.97 and a 200-day simple moving average of $16.22.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings results on Thursday, October 23rd. The semiconductor company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. MaxLinear had a negative return on equity of 12.74% and a negative net margin of 42.43%.The company had revenue of $126.46 million for the quarter, compared to analyst estimates of $124.66 million. During the same quarter in the previous year, the company posted ($0.36) earnings per share. The firm’s revenue was up 56.0% compared to the same quarter last year. Equities research analysts expect that MaxLinear will post -0.37 earnings per share for the current year.

MaxLinear declared that its board has initiated a share buyback plan on Monday, November 24th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 5.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

About MaxLinear

MaxLinear, Inc is a provider of radio-frequency (RF), analog, and mixed-signal integrated circuits for broadband communications, data center connectivity, and video infrastructure applications. The company’s product portfolio includes high-performance RF front-end modules, broadband power amplifiers, optical and Ethernet transceivers, and network processors designed to support demanding signal processing requirements.

MaxLinear’s semiconductor solutions are used by cable and satellite television operators, fiber-to-the-home service providers, network equipment manufacturers, and data center operators.