MaxLinear Inc. (MXL) Raised to Strong-Buy at Zacks Investment Research
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 firm presently has a $24.00 target price on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 17.13% from the company’s current price.
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 topic of a number of other research reports. Stifel Nicolaus cut their price objective on shares of MaxLinear from $26.00 to $24.00 and set a “buy” rating on the stock in a report on Tuesday, August 9th. Deutsche Bank AG reissued a “buy” rating and set a $22.00 price objective on shares of MaxLinear in a report on Wednesday, June 15th. Finally, Needham & Company LLC reissued a “buy” rating and set a $21.00 price objective on shares of MaxLinear in a report on Tuesday, August 9th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $21.00.
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MaxLinear (NYSE:MXL) opened at 20.49 on Wednesday. The firm’s 50-day moving average is $19.54 and its 200 day moving average is $19.16. The stock has a market capitalization of $1.31 billion, a P/E ratio of 36.39 and a beta of 0.48. MaxLinear has a 12-month low of $12.12 and a 12-month high of $22.50.
MaxLinear (NYSE:MXL) last released its quarterly earnings data on Monday, August 8th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. MaxLinear had a net margin of 8.72% and a return on equity of 35.97%. The company had revenue of $101.70 million for the quarter, compared to analysts’ expectations of $101.94 million. During the same quarter last year, the company earned $0.21 earnings per share. The firm’s revenue for the quarter was up 43.6% on a year-over-year basis. Equities analysts expect that MaxLinear will post $1.74 EPS for the current year.
In other news, VP Brendan Walsh sold 12,500 shares of MaxLinear stock in a transaction on Friday, August 19th. The shares were sold at an average price of $18.04, for a total value of $225,500.00. Following the transaction, the vice president now directly owns 162,210 shares of the company’s stock, valued at approximately $2,926,268.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.48% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System boosted its position in shares of MaxLinear by 0.3% in the second quarter. California State Teachers Retirement System now owns 117,125 shares of the company’s stock worth $2,106,000 after buying an additional 366 shares during the last quarter. Teachers Advisors Inc. boosted its position in shares of MaxLinear by 1.3% in the first quarter. Teachers Advisors Inc. now owns 78,817 shares of the company’s stock worth $1,458,000 after buying an additional 974 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of MaxLinear by 22.9% in the second quarter. Teacher Retirement System of Texas now owns 7,770 shares of the company’s stock worth $140,000 after buying an additional 1,446 shares during the last quarter. Meeder Asset Management Inc. boosted its position in shares of MaxLinear by 11.9% in the second quarter. Meeder Asset Management Inc. now owns 15,098 shares of the company’s stock worth $273,000 after buying an additional 1,602 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its position in shares of MaxLinear by 4.9% in the second quarter. Nationwide Fund Advisors now owns 38,235 shares of the company’s stock worth $687,000 after buying an additional 1,779 shares during the last quarter. 75.94% of the stock is currently 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.
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