MaxLinear Inc. (MXL) Lifted to “Buy” at Zacks Investment Research
MaxLinear Inc. (NYSE:MXL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday. The brokerage currently has a $24.00 target price on the stock. Zacks Investment Research’s target price would suggest a potential upside of 13.21% from the company’s previous close.
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. “
MXL has been the topic of a number of other reports. Needham & Company LLC raised 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. Stifel Nicolaus decreased their target price on shares of MaxLinear from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, August 9th.
Deutsche Bank AG decreased their target price on shares of MaxLinear from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, August 9th. Finally, Chardan Capital reissued a “buy” rating on shares of MaxLinear in a research note on Wednesday, November 2nd. Ten investment analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus target price of $22.79.
Shares of MaxLinear (NYSE:MXL1) opened at 21.20 on Friday. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 37.66 and a beta of 0.85. MaxLinear has a one year low of $12.67 and a one year high of $22.50. The company has a 50 day moving average price of $19.86 and a 200-day moving average price of $19.43. MaxLinear (NYSE:MXL) last released its earnings results on Monday, November 7th.
The company reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.04. MaxLinear had a net margin of 10.72% and a return on equity of 34.63%. The business had revenue of $96.30 million for the quarter, compared to analyst estimates of $16.14 million. During the same period last year, the company posted $0.40 EPS. The business’s revenue was up 1.2% on a year-over-year basis. Equities analysts predict that MaxLinear will post $1.73 earnings per share for the current fiscal year. In related news, VP Brendan Walsh sold 12,500 shares of MaxLinear stock in a transaction that occurred on Friday, August 19th.
The shares were sold at an average price of $18.04, for a total value of $225,500.00. Following the completion of the sale, the vice president now owns 162,210 shares in the company, valued at approximately $2,926,268.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website2.
12.48% of the stock is currently owned by corporate insiders. A number of institutional investors have recently modified their holdings of MXL. Creative Planning boosted its position in shares of MaxLinear by 16.2% in the second quarter. Creative Planning now owns 46,098 shares of the company’s stock valued at $829,000 after buying an additional 6,410 shares in the last quarter. New England Research & Management Inc. acquired a new position in shares of MaxLinear during the second quarter valued at approximately $421,000. Avalon Advisors LLC boosted its position in shares of MaxLinear by 13.8% in the first quarter.
Avalon Advisors LLC now owns 52,429 shares of the company’s stock valued at $970,000 after buying an additional 6,369 shares in the last quarter. Panagora Asset Management Inc. boosted its position in shares of MaxLinear by 97.1% in the first quarter. Panagora Asset Management Inc. now owns 364,374 shares of the company’s stock valued at $6,741,000 after buying an additional 179,478 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of MaxLinear by 55.3% in the first quarter. Barclays PLC now owns 56,345 shares of the company’s stock valued at $1,015,000 after buying an additional 20,062 shares in the last quarter.
75.82% of the stock is owned by 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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