MaxLinear Inc. (MXL) Cut to Hold at Zacks Investment Research
MaxLinear Inc. (NYSE:MXL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued 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 research firms have also weighed in on MXL. Needham & Company LLC upped their target price on MaxLinear from $21.00 to $22.50 and gave the stock a “buy” rating in a report on Tuesday, November 8th. Deutsche Bank AG lowered their target price on MaxLinear from $30.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, August 9th. Chardan Capital restated a “buy” rating on shares of MaxLinear in a report on Wednesday, November 2nd. Finally, Stifel Nicolaus lowered their target price on MaxLinear from $26.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, August 9th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $22.79.
MaxLinear (NYSE:MXL) opened at 21.15 on Tuesday. The stock’s 50 day moving average price is $19.91 and its 200-day moving average price is $19.50. MaxLinear has a 12 month low of $12.67 and a 12 month high of $22.50. The stock has a market cap of $1.36 billion, a PE ratio of 31.10 and a beta of 0.85.
MaxLinear (NYSE:MXL) last posted its earnings results on Monday, November 7th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. The company earned $96.30 million during the quarter, compared to analyst estimates of $16.14 million. MaxLinear had a return on equity of 34.63% and a net margin of 10.72%. MaxLinear’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. Analysts anticipate that MaxLinear will post $1.77 EPS for the current fiscal year.
In related news, VP Brendan Walsh sold 12,500 shares of the company’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $18.04, for a total value of $225,500.00. Following the transaction, the vice president now directly owns 162,210 shares of the company’s stock, valued at approximately $2,926,268.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 12.48% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System increased its stake in shares of MaxLinear by 0.3% in the second quarter. California State Teachers Retirement System now owns 117,125 shares of the company’s stock valued at $2,106,000 after buying an additional 366 shares in the last quarter. Rhumbline Advisers increased its stake in shares of MaxLinear by 1.6% in the third quarter. Rhumbline Advisers now owns 55,812 shares of the company’s stock valued at $1,131,000 after buying an additional 870 shares in the last quarter. Teachers Advisors Inc. increased its stake in shares of MaxLinear by 1.3% in the first quarter. Teachers Advisors Inc. now owns 78,817 shares of the company’s stock valued at $1,458,000 after buying an additional 974 shares in the last quarter. Teacher Retirement System of Texas increased its stake 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 valued at $140,000 after buying an additional 1,446 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its stake in shares of MaxLinear by 11.9% in the second quarter. Meeder Asset Management Inc. now owns 15,098 shares of the company’s stock valued at $273,000 after buying an additional 1,602 shares in the last quarter. 79.51% of the stock is currently owned by hedge funds and other institutional investors.
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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