MaxLinear, Inc (NYSE:MXL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued 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. “
Other equities research analysts have also issued reports about the stock. Stifel Nicolaus raised their price objective on shares of MaxLinear to $27.00 in a report on Monday.
Benchmark Co. raised 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. Needham & Company LLC raised their price objective on shares of MaxLinear from $21.00 to $22.50 and gave the company a “buy” rating in a report on Tuesday, November 8th. Chardan Capital restated a “buy” rating on shares of MaxLinear in a report on Wednesday, November 2nd. Finally, Susquehanna initiated coverage on shares of MaxLinear in a report on Tuesday, December 20th. They issued a “positive” rating and a $26.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating and ten have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $24.69.
MaxLinear (NYSE:MXL) opened at 22.61 on Tuesday. The stock’s 50 day moving average is $21.50 and its 200-day moving average is $20.14. MaxLinear has a 52-week low of $12.67 and a 52-week high of $23.07. The firm has a market capitalization of $1.46 billion, a PE ratio of 33.25 and a beta of 0.83. MaxLinear (NYSE:MXL) last announced its quarterly earnings data on Monday, November 7th. The company reported $0.43 earnings per share for the quarter, beating 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 business earned $0.40 EPS. The company’s revenue was up 1.2% on a year-over-year basis. Equities analysts expect that MaxLinear will post $1.76 earnings per share for the current year. In other MaxLinear news, insider Connie H. Kwong sold 2,009 shares of the firm’s stock in a transaction on Tuesday, November 15th.
The shares were sold at an average price of $21.51, for a total transaction of $43,213.59. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Brendan Walsh sold 10,000 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 160,754 shares in the company, 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.
Hedge funds and other institutional investors have recently modified their holdings of the company. Whale Rock Capital Management LLC increased its position 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 during 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 during 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 during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of MaxLinear by 32.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 1,423,724 shares of the company’s stock valued at $28,859,000 after buying an additional 350,329 shares during the last quarter. Finally, BlackRock Fund Advisors increased its stake 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 valued at $28,677,000 after buying an additional 88,071 shares during the last quarter.
78.93% of the stock is currently 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.
Get a free copy of the Zacks research report on MaxLinear (MXL)
For more information about research offerings from Zacks Investment Research, visit Zacks.com