Zacks Investment Research cut shares of MaxLinear (NYSE:MXL) from a strong-buy rating to a hold rating in a research report report published on Wednesday, 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. “

Other equities research analysts have also issued research reports about the stock. Craig Hallum lifted their target price on shares of MaxLinear from $43.00 to $50.00 and gave the company a buy rating in a research note on Wednesday, January 6th. They noted that the move was a valuation call. Roth Capital upped their target price on MaxLinear from $40.00 to $50.00 and gave the stock a buy rating in a report on Wednesday, December 30th. Loop Capital raised MaxLinear from a hold rating to a buy rating and set a $43.00 target price for the company in a research report on Monday, February 8th. Finally, Wells Fargo & Company lowered MaxLinear from an overweight rating to an equal weight rating and set a $40.00 price target on the stock. in a research report on Monday, January 11th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. MaxLinear presently has an average rating of Buy and an average target price of $37.70.

MXL opened at $34.80 on Wednesday. MaxLinear has a one year low of $13.65 and a one year high of $44.05. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.66 and a quick ratio of 1.16. The business has a 50 day simple moving average of $36.31 and a two-hundred day simple moving average of $32.01. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of -31.07, a PEG ratio of 2.09 and a beta of 1.94.

MaxLinear (NYSE:MXL) last announced its earnings results on Wednesday, February 3rd. The semiconductor company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.23. The company had revenue of $194.70 million during the quarter, compared to the consensus estimate of $189.83 million. MaxLinear had a positive return on equity of 3.25% and a negative net margin of 23.18%. The firm’s revenue for the quarter was up 178.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 earnings per share. As a group, sell-side analysts expect that MaxLinear will post 0.24 EPS for the current fiscal year.

In related news, insider Connie H. Kwong sold 2,750 shares of the firm’s stock in a transaction that occurred on Thursday, March 11th. The shares were sold at an average price of $36.58, for a total transaction of $100,595.00. Following the completion of the sale, the insider now owns 18,050 shares of the company’s stock, valued at $660,269. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kishore Seendripu sold 8,910 shares of the company’s stock in a transaction that occurred on Friday, January 8th. The shares were sold at an average price of $37.53, for a total value of $334,392.30. Following the completion of the transaction, the chief executive officer now directly owns 95,835 shares in the company, valued at $3,596,687.55. The disclosure for this sale can be found here. Insiders have sold 97,988 shares of company stock valued at $3,733,198 over the last 90 days. Corporate insiders own 9.97% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in shares of MaxLinear during the fourth quarter valued at $41,691,000. Thornburg Investment Management Inc. bought a new position in MaxLinear during the 4th quarter valued at about $25,934,000. UBS Asset Management Americas Inc. lifted its stake in MaxLinear by 932.2% during the 4th quarter. UBS Asset Management Americas Inc. now owns 583,367 shares of the semiconductor company’s stock valued at $22,279,000 after acquiring an additional 526,848 shares during the period. Channing Capital Management LLC boosted its holdings in shares of MaxLinear by 39.3% during the 4th quarter. Channing Capital Management LLC now owns 1,532,945 shares of the semiconductor company’s stock valued at $58,543,000 after acquiring an additional 432,794 shares during the last quarter. Finally, Polar Capital LLP bought a new stake in shares of MaxLinear in the third quarter worth approximately $9,670,000. Hedge funds and other institutional investors own 82.07% of the company’s stock.

About MaxLinear

MaxLinear, Inc provides radiofrequency (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. Its products integrate various portions of a high-speed communication system, including radiofrequency (RF), high-performance analog, mixed-signal, digital signal processing, security engines, data compression, networking layers, and power management.

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