MaxLinear (NASDAQ:MXL) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of MaxLinear (NASDAQ:MXL) from a buy rating to a hold rating in a research note published on Saturday.

Other research analysts also recently issued research reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a research report on Tuesday, April 21st. Susquehanna reaffirmed a “neutral” rating and issued a $30.00 target price on shares of MaxLinear in a research report on Monday, April 20th. Benchmark initiated coverage on shares of MaxLinear in a research note on Wednesday, May 27th. They set a “buy” rating and a $125.00 target price for the company. Loop Capital raised MaxLinear from a “hold” rating to a “buy” rating and increased their price target for the company from $17.00 to $75.00 in a report on Wednesday, April 29th. Finally, Needham & Company LLC upgraded MaxLinear from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Friday, April 24th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $71.00.

MaxLinear Price Performance

MXL opened at $75.01 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.12 and a current ratio of 1.70. The stock has a market capitalization of $6.72 billion, a P/E ratio of -49.35 and a beta of 3.91. The company’s 50-day simple moving average is $90.66 and its two-hundred day simple moving average is $48.25. MaxLinear has a 52-week low of $12.77 and a 52-week high of $128.30.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. MaxLinear had a negative net margin of 25.96% and a negative return on equity of 2.33%. The firm had revenue of $137.19 million for the quarter, compared to the consensus estimate of $137.15 million. During the same quarter last year, the firm posted ($0.05) EPS. The business’s quarterly revenue was up 43.0% compared to the same quarter last year. As a group, analysts predict that MaxLinear will post 0.52 EPS for the current year.

Insider Activity at MaxLinear

In related news, insider Connie H. Kwong sold 35,000 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $96.96, for a total value of $3,393,600.00. Following the transaction, the insider owned 13,947 shares of the company’s stock, valued at approximately $1,352,301.12. This trade represents a 71.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Thomas E. Pardun sold 11,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $105.00, for a total transaction of $1,155,000.00. Following the sale, the director owned 55,252 shares of the company’s stock, valued at $5,801,460. This trade represents a 16.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 65,168 shares of company stock worth $5,559,358 in the last quarter. Company insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On MaxLinear

Hedge funds have recently modified their holdings of the business. Larson Financial Group LLC increased its stake in shares of MaxLinear by 161.7% in the 4th quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 875 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in MaxLinear by 103.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 726 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in MaxLinear during the fourth quarter valued at about $25,000. International Assets Investment Management LLC bought a new stake in MaxLinear during the fourth quarter valued at about $27,000. Finally, EverSource Wealth Advisors LLC increased its position in MaxLinear by 16.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock worth $27,000 after buying an additional 217 shares in the last quarter. 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.