MaxLinear (NASDAQ:MXL) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen downgraded shares of MaxLinear (NASDAQ:MXL) from a buy rating to a hold rating in a research report sent to investors on Saturday.

A number of other brokerages have also weighed in on MXL. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $40.00 target price on shares of MaxLinear in a research note on Friday, April 24th. Needham & Company LLC upgraded MaxLinear from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research note on Friday, April 24th. Loop Capital raised MaxLinear from a “hold” rating to a “buy” rating and upped their price objective for the company from $17.00 to $75.00 in a report on Wednesday, April 29th. Northland Securities set a $110.00 price objective on MaxLinear in a research report on Wednesday, June 3rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a research report on Tuesday, April 21st. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, MaxLinear has a consensus rating of “Hold” and a consensus target price of $65.50.

MaxLinear Stock Down 3.4%

Shares of MXL opened at $71.84 on Friday. MaxLinear has a 52 week low of $12.77 and a 52 week high of $128.30. The firm has a market cap of $6.43 billion, a P/E ratio of -47.26 and a beta of 3.91. The firm’s 50-day simple moving average is $91.21 and its 200 day simple moving average is $47.63. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.12 and a current ratio of 1.70.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings data on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.04. MaxLinear had a negative net margin of 25.96% and a negative return on equity of 2.33%. The firm had revenue of $137.19 million during the quarter, compared to the consensus estimate of $137.15 million. During the same period last year, the business posted ($0.05) earnings per share. The business’s revenue for the quarter was up 43.0% compared to the same quarter last year. On average, analysts forecast that MaxLinear will post 0.52 earnings per share for the current year.

Insider Activity at MaxLinear

In other news, Director Thomas E. Pardun sold 11,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $105.00, for a total transaction of $1,155,000.00. Following the completion of the sale, the director owned 55,252 shares of the company’s stock, valued at approximately $5,801,460. This represents a 16.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Connie H. Kwong sold 35,000 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $96.96, for a total transaction of $3,393,600.00. Following the sale, the insider owned 13,947 shares in the company, valued at $1,352,301.12. This represents a 71.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 65,168 shares of company stock valued at $5,559,358 over the last 90 days. Corporate insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On MaxLinear

Institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its stake in shares of MaxLinear by 16.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 217 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of MaxLinear by 5.6% during the 2nd quarter. GAMMA Investing LLC now owns 6,152 shares of the semiconductor company’s stock valued at $788,000 after acquiring an additional 326 shares in the last quarter. Carolina Wealth Advisors LLC bought a new stake in MaxLinear during the 2nd quarter worth $47,000. Captrust Financial Advisors grew its position in MaxLinear by 4.3% during the 4th quarter. Captrust Financial Advisors now owns 14,074 shares of the semiconductor company’s stock worth $245,000 after acquiring an additional 577 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in MaxLinear by 1.4% in the 4th quarter. State of Alaska Department of Revenue now owns 45,677 shares of the semiconductor company’s stock worth $795,000 after purchasing an additional 632 shares in the last quarter. Institutional investors and hedge funds own 90.79% of the company’s stock.

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.