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MaxLinear, Inc (MXL) Decreased to “Sell” at the Zacks Investment Research

MaxLinear, Inc (NYSE:MXL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors 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. “

Several other brokerages also recently issued reports on MXL. Needham & Company LLC upped their target price on shares of MaxLinear from $21.00 to $22.50 and gave the stock a “buy” rating in a research note on Tuesday, November 8th.

Stifel Nicolaus boosted their price objective on shares of MaxLinear to $27.00 in a report on Monday. Benchmark Co. boosted their price objective on shares of MaxLinear from $24.00 to $28.00 and gave the company a “buy” rating in a report on Friday, December 9th. Chardan Capital reissued a “buy” rating on shares of MaxLinear in a report on Wednesday, November 2nd. Finally, Susquehanna started coverage on shares of MaxLinear in a report on Tuesday, December 20th. They set a “positive” rating and a $26.00 price objective for the company. One research analyst has rated the stock with a sell rating and ten 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 $24.69.

Shares of MaxLinear (NYSE:MXL) opened at 22.61 on Tuesday. The stock has a market cap of $1.46 billion, a P/E ratio of 33.25 and a beta of 0.83. MaxLinear has a 52-week low of $12.67 and a 52-week high of $23.07. The firm’s 50-day moving average price is $21.50 and its 200-day moving average price is $20.14. MaxLinear (NYSE:MXL) last issued its earnings results on Monday, November 7th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.04.

The firm had revenue of $96.30 million for the quarter, compared to the consensus estimate of $16.14 million. MaxLinear had a net margin of 10.72% and a return on equity of 34.63%. The business’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.40 earnings per share. On average, equities research analysts forecast that MaxLinear will post $1.76 earnings per share for the current fiscal year. In other MaxLinear news, insider Connie H. Kwong sold 2,009 shares of the company’s stock in a transaction that occurred on Tuesday, November 15th.

The shares were sold at an average price of $21.51, for a total value of $43,213.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brendan Walsh sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 2nd. The stock was sold at an average price of $19.49, for a total transaction of $194,900.00. Following the completion of the transaction, the vice president now owns 160,754 shares of the company’s stock, valued at $3,133,095.46. The disclosure for this sale can be found here. Company insiders own 12.48% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Macquarie Group Ltd. raised its position in MaxLinear by 29.7% in the second quarter. Macquarie Group Ltd. now owns 745,744 shares of the company’s stock worth $13,408,000 after buying an additional 170,945 shares during the last quarter. Meritage Portfolio Management purchased a new position in MaxLinear during the third quarter worth $5,004,000. Columbus Circle Investors raised its position in MaxLinear by 12.4% in the second quarter. Columbus Circle Investors now owns 987,216 shares of the company’s stock worth $17,750,000 after buying an additional 108,879 shares during the last quarter. Kalmar Investments Inc.

DE raised its position in MaxLinear by 58.9% in the third quarter. Kalmar Investments Inc. DE now owns 1,067,050 shares of the company’s stock worth $21,629,000 after buying an additional 395,460 shares during the last quarter. Finally, Spark Investment Management LLC raised its position in MaxLinear by 46.2% in the third quarter. Spark Investment Management LLC now owns 148,200 shares of the company’s stock worth $3,004,000 after buying an additional 46,800 shares during the last quarter. Institutional investors and hedge funds own 78.93% of the company’s stock. About MaxLinear

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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