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The MaxLinear, Inc. (MXL) Rating Increased to Buy at Zacks Investment Research

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. “

MaxLinear, Inc. (NYSE:MXL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage presently has a $31.00 price target on the stock. Zacks Investment Research’s price target suggests a potential upside of 16.45% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Stifel Nicolaus upped their price target on shares of MaxLinear from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $29.00 price target on shares of MaxLinear in a research note on Thursday, March 30th. Finally, Susquehanna Bancshares Inc initiated coverage on shares of MaxLinear in a research note on Tuesday, December 20th. They set a “positive” rating and a $26.00 price target on the stock. Eight equities research analysts have rated the stock with a buy rating, MaxLinear has a consensus rating of “Buy” and an average price target of $28.83. Shares of MaxLinear (NYSE:MXL) opened at 26.62 on Wednesday.

MaxLinear has a 52-week low of $15.31 and a 52-week high of $28.56. The company’s 50-day moving average is $26.76 and its 200 day moving average is $23.32. The firm has a market capitalization of $1.73 billion, a PE ratio of 29.25 and a beta of 0.72. MaxLinear (NYSE:MXL) last posted its quarterly earnings results on Wednesday, February 8th. The company reported $0.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.03. MaxLinear had a net margin of 15.40% and a return on equity of 30.61%. The business had revenue of $87.14 million for the quarter, compared to analysts’ expectations of $85.90 million.

During the same period in the prior year, the company posted $0.46 EPS. The business’s revenue for the quarter was down 11.9% on a year-over-year basis. Equities analysts expect that MaxLinear will post $1.39 earnings per share for the current fiscal year. Several large investors have recently added to or reduced their stakes in MXL. Macquarie Group Ltd. raised its position in shares of MaxLinear by 4.3% in the fourth quarter. Macquarie Group Ltd.

now owns 2,411,172 shares of the company’s stock worth $52,564,000 after buying an additional 98,860 shares during the period. BlackRock Fund Advisors raised its position in shares of MaxLinear by 6.6% in the third quarter. BlackRock Fund Advisors now owns 1,414,764 shares of the company’s stock worth $28,677,000 after buying an additional 88,071 shares during the period. Gotham Asset Management LLC raised its position in shares of MaxLinear by 91.6% in the third quarter. Gotham Asset Management LLC now owns 1,134,113 shares of the company’s stock worth $22,988,000 after buying an additional 542,065 shares during the period. Cortina Asset Management LLC raised its position in shares of MaxLinear by 104.6% in the fourth quarter. Cortina Asset Management LLC now owns 1,118,699 shares of the company’s stock worth $24,388,000 after buying an additional 571,859 shares during the period. Finally, Kalmar Investments Inc. DE raised its position in shares of 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 period. Institutional investors and hedge funds own 78.21% of the company’s stock. About MaxLinear

MaxLinear, Inc is a provider of radio frequency (RF) and mixed-signal integrated circuits for cable and satellite broadband communications and the connected home, and wired and wireless infrastructure markets. The Company’s RF receiver products capture and process digital and analog broadband signals to be decoded for various applications.

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