MaxLinear (NYSE:MXL) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of MaxLinear (NYSE:MXL) from a sell rating to a hold rating in a report published on Wednesday, Zacks.com reports.

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 commented on MXL. ValuEngine lowered MaxLinear from a strong-buy rating to a buy rating in a research note on Thursday, August 1st. Roth Capital dropped their price target on MaxLinear from $28.00 to $23.00 and set a neutral rating for the company in a research note on Tuesday, June 4th. Needham & Company LLC lowered MaxLinear from a buy rating to a hold rating in a research note on Thursday, May 2nd. They noted that the move was a valuation call. Wells Fargo & Co assumed coverage on MaxLinear in a research note on Tuesday, May 14th. They issued a market perform rating for the company. Finally, Deutsche Bank set a $25.00 price target on MaxLinear and gave the stock a hold rating in a research note on Friday, July 26th. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. MaxLinear has a consensus rating of Hold and an average price target of $20.80.

Shares of MXL stock opened at $19.57 on Wednesday. The stock has a fifty day moving average of $22.59 and a 200 day moving average of $23.81. MaxLinear has a 52 week low of $14.87 and a 52 week high of $28.70. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 25.09, a PEG ratio of 3.64 and a beta of 1.27. The company has a quick ratio of 1.94, a current ratio of 2.58 and a debt-to-equity ratio of 0.59.

MaxLinear (NYSE:MXL) last announced its quarterly earnings results on Thursday, July 25th. The semiconductor company reported $0.11 EPS for the quarter, hitting analysts’ consensus estimates of $0.11. MaxLinear had a positive return on equity of 7.16% and a negative net margin of 6.09%. The company had revenue of $82.50 million during the quarter, compared to analyst estimates of $82.58 million. During the same quarter last year, the firm posted $0.34 earnings per share. The firm’s revenue was down 18.7% on a year-over-year basis. Equities research analysts anticipate that MaxLinear will post 0.45 earnings per share for the current year.

In other MaxLinear news, VP William Torgerson sold 43,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $20.67, for a total transaction of $888,810.00. Following the completion of the transaction, the vice president now owns 113,319 shares of the company’s stock, valued at $2,342,303.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Kishore Seendripu sold 21,000 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $20.79, for a total value of $436,590.00. Following the transaction, the chairman now directly owns 12,466 shares of the company’s stock, valued at approximately $259,168.14. The disclosure for this sale can be found here. Insiders have sold 101,827 shares of company stock valued at $2,154,155 in the last three months. Insiders own 9.97% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. State of Alaska Department of Revenue lifted its position in MaxLinear by 2.5% during the second quarter. State of Alaska Department of Revenue now owns 21,872 shares of the semiconductor company’s stock valued at $512,000 after buying an additional 536 shares during the period. Cortina Asset Management LLC increased its holdings in shares of MaxLinear by 25.1% during the second quarter. Cortina Asset Management LLC now owns 219,674 shares of the semiconductor company’s stock valued at $5,149,000 after acquiring an additional 44,088 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of MaxLinear by 7.1% during the first quarter. California Public Employees Retirement System now owns 107,281 shares of the semiconductor company’s stock valued at $2,739,000 after acquiring an additional 7,100 shares in the last quarter. Westside Investment Management Inc. bought a new position in shares of MaxLinear during the second quarter valued at $324,000. Finally, Public Employees Retirement Association of Colorado increased its holdings in shares of MaxLinear by 12.1% during the second quarter. Public Employees Retirement Association of Colorado now owns 669,544 shares of the semiconductor company’s stock valued at $15,694,000 after acquiring an additional 72,298 shares in the last quarter. 90.68% of the stock is owned by institutional investors and hedge funds.

MaxLinear Company Profile

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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