MaxLinear (MXL) Stock Rating Upgraded by Zacks Investment Research

MaxLinear (NYSE:MXL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports.

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 also recently issued reports about the company. Wells Fargo & Co assumed coverage on MaxLinear in a report on Tuesday. They set a “market perform” rating for the company. Needham & Company LLC downgraded MaxLinear from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. They noted that the move was a valuation call. Finally, ValuEngine raised MaxLinear from a “hold” rating to a “buy” rating in a report on Thursday, February 28th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. MaxLinear presently has an average rating of “Hold” and an average price target of $20.20.

Shares of NYSE MXL opened at $24.33 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.44 and a quick ratio of 1.86. MaxLinear has a 1-year low of $14.87 and a 1-year high of $28.70. The firm has a market cap of $1.74 billion, a P/E ratio of 31.19, a P/E/G ratio of 1.87 and a beta of 1.16.

MaxLinear (NYSE:MXL) last issued its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $0.09 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.09. MaxLinear had a positive return on equity of 8.68% and a negative net margin of 9.17%. The firm had revenue of $84.64 million during the quarter, compared to the consensus estimate of $84.44 million. During the same period last year, the company earned $0.37 earnings per share. The company’s revenue for the quarter was down 23.6% on a year-over-year basis. On average, sell-side analysts predict that MaxLinear will post 0.67 earnings per share for the current fiscal year.

In related news, Director Albert J. Moyer sold 34,575 shares of the stock in a transaction on Friday, February 15th. The stock was sold at an average price of $22.79, for a total transaction of $787,964.25. Following the completion of the sale, the director now directly owns 89,283 shares of the company’s stock, valued at $2,034,759.57. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 9.97% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in MaxLinear by 1.1% in the first quarter. BlackRock Inc. now owns 9,183,756 shares of the semiconductor company’s stock valued at $234,461,000 after acquiring an additional 101,280 shares during the period. Vanguard Group Inc. lifted its holdings in MaxLinear by 7.7% in the third quarter. Vanguard Group Inc. now owns 6,208,370 shares of the semiconductor company’s stock valued at $123,423,000 after acquiring an additional 443,729 shares during the period. Primecap Management Co. CA lifted its holdings in MaxLinear by 2.1% in the first quarter. Primecap Management Co. CA now owns 4,901,334 shares of the semiconductor company’s stock valued at $125,131,000 after acquiring an additional 99,190 shares during the period. Macquarie Group Ltd. lifted its holdings in MaxLinear by 10.8% in the fourth quarter. Macquarie Group Ltd. now owns 4,816,410 shares of the semiconductor company’s stock valued at $84,769,000 after acquiring an additional 469,445 shares during the period. Finally, William Blair Investment Management LLC lifted its holdings in MaxLinear by 1.3% in the first quarter. William Blair Investment Management LLC now owns 3,111,276 shares of the semiconductor company’s stock valued at $79,431,000 after acquiring an additional 40,270 shares during the period. 98.48% of the stock is owned by institutional investors.

MaxLinear Company Profile

MaxLinear, Inc provides radio-frequency (RF), high-performance analog, and mixed-signal communications systems-on-chip solutions (SoCs) for the connected home, wired and wireless infrastructure, and industrial and multi-market applications worldwide. The company offers range of semiconductor products, such as RF receivers and RF receiver SoCs, wireless infrastructure backhaul RF receivers and modem SoCs, laser modulator drivers, transimpedance amplifiers, clock and data recovery circuits, interface solutions, power management products, and data encryption and compression products.

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