MaxLinear, Inc (NASDAQ:MXL) Receives Consensus Recommendation of “Hold” from Brokerages

MaxLinear, Inc (NASDAQ:MXL) has received an average rating of “Hold” from the eight analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $19.5714.

MXL has been the topic of a number of research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxLinear in a research note on Thursday, January 22nd. Benchmark boosted their price objective on MaxLinear from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, January 16th. Finally, Wells Fargo & Company increased their target price on MaxLinear from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Friday, January 30th.

MaxLinear Stock Performance

NASDAQ:MXL opened at $17.98 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.92 and a current ratio of 1.34. The company has a fifty day moving average of $17.73 and a two-hundred day moving average of $17.09. The stock has a market capitalization of $1.55 billion, a PE ratio of -11.38 and a beta of 1.70. MaxLinear has a fifty-two week low of $8.35 and a fifty-two week high of $20.82.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings data on Thursday, January 29th. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. The business had revenue of $136.44 million for the quarter, compared to the consensus estimate of $134.82 million. MaxLinear had a negative net margin of 29.23% and a negative return on equity of 6.95%. The company’s revenue was up 48.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.09) earnings per share. As a group, research analysts forecast that MaxLinear will post -0.37 earnings per share for the current fiscal year.

Insider Activity at MaxLinear

In related news, insider Steven G. Litchfield sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $15.68, for a total transaction of $313,600.00. Following the completion of the sale, the insider directly owned 343,435 shares in the company, valued at approximately $5,385,060.80. The trade was a 5.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 44,929 shares of company stock worth $746,456 in the last three months. 7.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MXL. Invesco Ltd. grew its holdings in shares of MaxLinear by 419.9% during the fourth quarter. Invesco Ltd. now owns 2,149,589 shares of the semiconductor company’s stock worth $37,467,000 after buying an additional 1,736,141 shares in the last quarter. AIGH Capital Management LLC purchased a new position in shares of MaxLinear in the third quarter worth about $17,809,000. Marshall Wace LLP boosted its position in MaxLinear by 239.0% during the second quarter. Marshall Wace LLP now owns 1,385,171 shares of the semiconductor company’s stock worth $19,683,000 after acquiring an additional 976,537 shares during the last quarter. Paradigm Capital Management Inc. NY boosted its position in MaxLinear by 582.7% during the fourth quarter. Paradigm Capital Management Inc. NY now owns 861,000 shares of the semiconductor company’s stock worth $15,007,000 after acquiring an additional 734,875 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in MaxLinear by 27.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,889,111 shares of the semiconductor company’s stock valued at $41,054,000 after acquiring an additional 628,719 shares in the last quarter. Hedge funds and other institutional investors 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.