MaxLinear (MXL) Upgraded at Zacks Investment Research

MaxLinear (NYSE:MXL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

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 weighed in on MXL. ValuEngine lowered MaxLinear from a “sell” rating to a “strong sell” rating in a research report on Monday, June 11th. Needham & Company LLC reduced their price objective on MaxLinear from $27.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, June 29th. Roth Capital restated a “neutral” rating and set a $20.00 price objective (down previously from $27.00) on shares of MaxLinear in a research report on Monday, June 11th. William Blair started coverage on MaxLinear in a research report on Monday, June 4th. They set an “outperform” rating on the stock. Finally, Stifel Nicolaus reduced their price objective on MaxLinear from $31.00 to $25.00 and set a “$17.41” rating on the stock in a research report on Thursday, July 19th. One 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 stock. The stock has a consensus rating of “Hold” and an average target price of $25.00.

Shares of MXL stock opened at $19.51 on Tuesday. The firm has a market cap of $1.39 billion, a P/E ratio of 16.53, a PEG ratio of 1.51 and a beta of 0.88. MaxLinear has a twelve month low of $15.39 and a twelve month high of $28.06. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.06 and a current ratio of 2.62.

MaxLinear (NYSE:MXL) last issued its quarterly earnings data on Tuesday, August 7th. The semiconductor company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. The business had revenue of $101.53 million for the quarter. MaxLinear had a positive return on equity of 19.00% and a negative net margin of 9.37%. equities research analysts expect that MaxLinear will post 0.67 EPS for the current fiscal year.

In related news, CEO Kishore Seendripu bought 27,100 shares of the business’s stock in a transaction on Friday, August 10th. The shares were purchased at an average cost of $18.47 per share, with a total value of $500,537.00. Following the acquisition, the chief executive officer now owns 130,474 shares of the company’s stock, valued at $2,409,854.78. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 11.47% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in MXL. Rhumbline Advisers lifted its holdings in MaxLinear by 3.1% during the 1st quarter. Rhumbline Advisers now owns 142,808 shares of the semiconductor company’s stock worth $3,249,000 after buying an additional 4,343 shares during the period. Prudential Financial Inc. lifted its holdings in MaxLinear by 2.3% during the 1st quarter. Prudential Financial Inc. now owns 103,361 shares of the semiconductor company’s stock worth $2,351,000 after buying an additional 2,370 shares during the period. Swiss National Bank lifted its holdings in MaxLinear by 1.9% during the 1st quarter. Swiss National Bank now owns 115,573 shares of the semiconductor company’s stock worth $2,629,000 after buying an additional 2,200 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in MaxLinear by 6.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 306,033 shares of the semiconductor company’s stock worth $6,963,000 after buying an additional 18,477 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in MaxLinear by 9.8% during the 1st quarter. Thrivent Financial for Lutherans now owns 41,023 shares of the semiconductor company’s stock worth $933,000 after buying an additional 3,656 shares during the period. 94.88% of the stock is currently owned by hedge funds and other institutional investors.

About MaxLinear

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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