MaxLinear, Inc (NYSE:MXL) Lifted to “Hold” at Zacks Investment Research

MaxLinear, Inc (NYSE:MXL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, November 8th.

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. “

MXL has been the subject of a number of other reports. BidaskClub downgraded shares of MaxLinear from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. TheStreet downgraded shares of MaxLinear from a “b” rating to a “c+” rating in a research note on Thursday, August 10th. Deutsche Bank AG decreased their target price on shares of MaxLinear from $33.00 to $32.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Roth Capital dropped their target price on shares of MaxLinear from $38.00 to $33.50 and set a “buy” rating on the stock in a report on Wednesday, August 9th. Finally, Needham & Company LLC decreased their target price on shares of MaxLinear from $34.00 to $32.00 and set a “buy” rating for the company in a research report on Monday, July 17th. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $30.36.

Shares of MaxLinear (MXL) traded down $0.42 during trading hours on Wednesday, hitting $26.80. 375,218 shares of the stock traded hands, compared to its average volume of 775,762. The stock has a market capitalization of $1,810.00, a P/E ratio of 23.47, a price-to-earnings-growth ratio of 1.30 and a beta of 0.47. MaxLinear has a 1-year low of $19.22 and a 1-year high of $32.47. The company has a current ratio of 2.23, a quick ratio of 1.58 and a debt-to-equity ratio of 0.93.

MaxLinear (NYSE:MXL) last announced its earnings results on Tuesday, November 7th. The semiconductor company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.06. The company had revenue of $113.58 million during the quarter, compared to analysts’ expectations of $115.77 million. MaxLinear had a net margin of 4.73% and a return on equity of 20.96%. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.43 earnings per share. sell-side analysts forecast that MaxLinear will post 1.05 earnings per share for the current fiscal year.

In related news, insider Daniel Omeniuk sold 760,000 shares of MaxLinear stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $0.15, for a total value of $114,000.00. Insiders own 11.92% of the company’s stock.

Several institutional investors have recently made changes to their positions in MXL. LS Investment Advisors LLC bought a new stake in shares of MaxLinear during the 2nd quarter worth $134,000. Ameritas Investment Partners Inc. raised its position in MaxLinear by 9.5% in the second quarter. Ameritas Investment Partners Inc. now owns 5,283 shares of the semiconductor company’s stock valued at $147,000 after purchasing an additional 460 shares during the last quarter. D.A. Davidson & CO. raised its position in MaxLinear by 0.9% in the second quarter. D.A. Davidson & CO. now owns 5,298 shares of the semiconductor company’s stock valued at $147,000 after purchasing an additional 45 shares during the last quarter. Pinebridge Investments L.P. bought a new position in MaxLinear in the second quarter valued at about $192,000. Finally, GSA Capital Partners LLP bought a new position in MaxLinear in the second quarter valued at about $208,000. Institutional investors own 85.55% of the company’s stock.

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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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