MaxLinear, Inc. (NYSE:MXL) Expected to Post Quarterly Sales of $61.80 Million

Wall Street brokerages forecast that MaxLinear, Inc. (NYSE:MXL) will announce $61.80 million in sales for the current quarter, Zacks reports. Six analysts have made estimates for MaxLinear’s earnings, with estimates ranging from $60.28 million to $62.50 million. MaxLinear posted sales of $82.51 million in the same quarter last year, which suggests a negative year over year growth rate of 25.1%. The firm is scheduled to announce its next quarterly earnings report on Thursday, July 23rd.

On average, analysts expect that MaxLinear will report full year sales of $269.42 million for the current financial year, with estimates ranging from $266.43 million to $276.30 million. For the next fiscal year, analysts forecast that the firm will report sales of $312.36 million, with estimates ranging from $295.00 million to $320.87 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow MaxLinear.

MaxLinear (NYSE:MXL) last announced its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported $0.07 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.07. MaxLinear had a positive return on equity of 6.51% and a negative net margin of 10.36%. The firm had revenue of $62.00 million for the quarter, compared to the consensus estimate of $62.12 million. During the same quarter last year, the business posted $0.20 earnings per share. The firm’s revenue was down 27.1% compared to the same quarter last year.

A number of equities research analysts have commented on MXL shares. Stifel Nicolaus restated a “buy” rating and issued a $25.00 target price on shares of MaxLinear in a research report on Wednesday, June 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 price objective on shares of MaxLinear in a research note on Thursday, April 30th. Wells Fargo & Co raised MaxLinear from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $21.00 to $23.00 in a research note on Tuesday, April 7th. Northland Securities started coverage on MaxLinear in a research note on Monday, June 15th. They set a “buy” rating and a $27.00 target price for the company. Finally, Susquehanna Bancshares boosted their target price on MaxLinear from $15.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $22.33.

NYSE:MXL traded up $0.34 on Friday, reaching $21.20. The company’s stock had a trading volume of 436,494 shares, compared to its average volume of 595,939. MaxLinear has a 12-month low of $7.79 and a 12-month high of $26.20. The company has a quick ratio of 2.40, a current ratio of 2.89 and a debt-to-equity ratio of 0.53. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of -50.48, a price-to-earnings-growth ratio of 23.04 and a beta of 1.87. The stock has a 50 day moving average price of $18.97 and a 200 day moving average price of $17.48.

In other news, CEO Kishore Seendripu sold 17,306 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $17.01, for a total value of $294,375.06. Following the completion of the sale, the chief executive officer now directly owns 101,260 shares of the company’s stock, valued at approximately $1,722,432.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Madhukar Reddy sold 25,352 shares of the business’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $16.17, for a total value of $409,941.84. Following the completion of the sale, the vice president now directly owns 365,950 shares of the company’s stock, valued at $5,917,411.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 143,431 shares of company stock valued at $2,556,935. Insiders own 9.97% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in MaxLinear during the 2nd quarter valued at approximately $211,000. State Street Corp raised its stake in MaxLinear by 5.5% during the 1st quarter. State Street Corp now owns 2,461,774 shares of the semiconductor company’s stock valued at $28,729,000 after acquiring an additional 129,176 shares during the last quarter. Royal Bank of Canada raised its stake in MaxLinear by 713.9% during the 1st quarter. Royal Bank of Canada now owns 25,508 shares of the semiconductor company’s stock valued at $298,000 after acquiring an additional 22,374 shares during the last quarter. State of Tennessee Treasury Department raised its stake in MaxLinear by 30.5% during the 1st quarter. State of Tennessee Treasury Department now owns 41,632 shares of the semiconductor company’s stock valued at $486,000 after acquiring an additional 9,735 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado raised its stake in MaxLinear by 155.8% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 10,349 shares of the semiconductor company’s stock valued at $121,000 after acquiring an additional 6,303 shares during the last quarter. 82.71% of the stock is owned by hedge funds and other 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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Earnings History and Estimates for MaxLinear (NYSE:MXL)

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