MaxLinear Inc. (NYSE:MXL) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday. The brokerage currently has a $24.00 price target on the stock. Zacks Investment Research’s target price would suggest a potential upside of 22.01% 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. “
A number of other equities analysts also recently weighed in on the company. Deutsche Bank AG reduced their price target on MaxLinear from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, August 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $21.00 price target on shares of MaxLinear in a research report on Tuesday, August 9th. Finally, Stifel Nicolaus reduced their price target on MaxLinear from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, August 9th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $21.00.
Shares of MaxLinear (NYSE:MXL) traded down 0.15% during midday trading on Wednesday, hitting $19.67.
558,953 shares of the stock traded hands. The firm’s 50 day moving average price is $19.68 and its 200 day moving average price is $19.19. MaxLinear has a 12-month low of $12.67 and a 12-month high of $22.50. The company has a market capitalization of $1.26 billion, a PE ratio of 34.94 and a beta of 0.48.
MaxLinear (NYSE:MXL) last issued its quarterly earnings data on Monday, August 8th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.06. MaxLinear had a return on equity of 35.97% and a net margin of 8.72%. The business earned $101.70 million during the quarter, compared to analyst estimates of $101.94 million. During the same period in the previous year, the firm earned $0.21 EPS. MaxLinear’s quarterly revenue was up 43.6% compared to the same quarter last year. Analysts expect that MaxLinear will post $1.74 EPS for the current year.
In other MaxLinear news, VP Brendan Walsh sold 12,500 shares of the firm’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $18.04, for a total transaction of $225,500.00. Following the completion of the sale, the vice president now owns 162,210 shares of the company’s stock, valued at approximately $2,926,268.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 12.48% of the company’s stock. A number of large investors have recently made changes to their positions in MXL. Whale Rock Capital Management LLC increased its stake in shares of MaxLinear by 8.1% in the second quarter.
Whale Rock Capital Management LLC now owns 2,414,490 shares of the company’s stock valued at $43,413,000 after buying an additional 180,107 shares in the last quarter. Lord Abbett & CO. LLC increased its stake in shares of MaxLinear by 253.9% in the second quarter. Lord Abbett & CO. LLC now owns 2,394,055 shares of the company’s stock valued at $43,045,000 after buying an additional 1,717,539 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of MaxLinear by 15.0% in the second quarter. Vanguard Group Inc. now owns 2,289,026 shares of the company’s stock valued at $41,158,000 after buying an additional 299,312 shares in the last quarter.
BlackRock Fund Advisors increased its stake in shares of MaxLinear by 2.2% in the first quarter. BlackRock Fund Advisors now owns 1,420,080 shares of the company’s stock valued at $26,271,000 after buying an additional 30,423 shares in the last quarter. Finally, State Street Corp increased its stake in shares of MaxLinear by 4.5% in the second quarter. State Street Corp now owns 1,214,163 shares of the company’s stock valued at $21,833,000 after buying an additional 52,480 shares in the last quarter.
75.94% of the stock is owned by institutional investors and hedge funds. 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.