MaxLinear Inc. (MXL) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of MaxLinear Inc. (NYSE:MXL) from a hold rating to a buy rating in a research report released on Saturday. Zacks Investment Research currently has $24.00 price target on the stock.
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. “
Several other brokerages also recently issued reports on MXL. Needham & Company LLC reissued a buy rating and set a $21.00 target price on shares of MaxLinear in a research note on Tuesday, August 9th. Deutsche Bank AG cut their target price on shares of MaxLinear from $30.00 to $25.00 and set a buy rating on the stock in a research note on Tuesday, August 9th. Stifel Nicolaus lowered their price target on shares of MaxLinear from $26.00 to $24.00 and set a buy rating on the stock in a report on Tuesday, August 9th. Finally, Chardan Capital restated a buy rating on shares of MaxLinear in a report on Wednesday, November 2nd. Ten investment analysts have rated the stock with a buy rating, MaxLinear presently has a consensus rating of Buy and a consensus price target of $22.79.
MaxLinear (NYSE:MXL) opened at 21.20 on Friday. MaxLinear has a 52-week low of $12.67 and a 52-week high of $22.50. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 37.66 and a beta of 0.85. The firm has a 50-day moving average price of $19.86 and a 200 day moving average price of $19.43.
MaxLinear (NYSE:MXL) last announced its earnings results on Monday, November 7th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.04. MaxLinear had a net margin of 10.72% and a return on equity of 34.63%. The company had revenue of $96.30 million for the quarter, compared to the consensus estimate of $16.14 million. During the same period in the previous year, the business earned $0.40 EPS. The company’s revenue was up 1.2% on a year-over-year basis. On average, equities research analysts predict that MaxLinear will post $1.73 EPS for the current year.
In other MaxLinear news, VP Brendan Walsh sold 12,500 shares of the company’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $18.04, for a total transaction of $225,500.00. Following the completion of the sale, the vice president now directly owns 162,210 shares in the company, valued at $2,926,268.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 12.48% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in MXL. BNP Paribas Arbitrage SA raised its position in shares of MaxLinear by 137.1% in the third quarter. BNP Paribas Arbitrage SA now owns 5,143 shares of the company’s stock worth $104,000 after buying an additional 2,974 shares in the last quarter. Advisor Group Inc. raised its position in shares of MaxLinear by 118.1% in the third quarter. Advisor Group Inc. now owns 7,057 shares of the company’s stock worth $142,000 after buying an additional 3,821 shares in the last quarter. Howe & Rusling Inc. bought a new position in shares of MaxLinear during the second quarter worth approximately $131,000. Teacher Retirement System of Texas raised its position in shares of MaxLinear by 22.9% in the second quarter. Teacher Retirement System of Texas now owns 7,770 shares of the company’s stock worth $140,000 after buying an additional 1,446 shares in the last quarter. Finally, Prescott Group Capital Management L.L.C. bought a new position in shares of MaxLinear during the third quarter worth approximately $203,000. Institutional investors own 75.82% of the company’s stock.
MaxLinear Company Profile
MaxLinear, Inc is a provider of integrated, radio-frequency (RF) and mixed-signal integrated circuits for broadband communications and data center, metro, and long-haul transport network applications. The Company’s RF receiver products capture and process digital and analog broadband signals to be decoded for various applications.
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