MaxLinear Inc. (MXL) Receives Average Rating of “Buy” from Analysts
Shares of MaxLinear Inc. (NYSE:MXL) have been assigned a consensus recommendation of “Buy” from the eleven analysts that are currently covering the stock. One research analyst has rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $20.00.
A number of analysts recently issued reports on the company. Deutsche Bank AG lowered their target price on MaxLinear from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, August 9th. Zacks Investment Research downgraded MaxLinear from a “buy” rating to a “hold” rating in a research report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $21.00 target price (up previously from $20.00) on shares of MaxLinear in a research report on Sunday, July 10th. Finally, Stifel Nicolaus lowered their target price on MaxLinear from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, August 9th.
Shares of MaxLinear (NYSE:MXL) traded down 0.61% during mid-day trading on Wednesday, hitting $19.65. The company’s stock had a trading volume of 352,331 shares. The company has a 50-day moving average of $19.71 and a 200 day moving average of $19.22. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 34.90 and a beta of 0.48. MaxLinear has a 1-year low of $12.67 and a 1-year high of $22.50.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/19/maxlinear-inc-mxl-receives-average-rating-of-buy-from-analysts.html
MaxLinear (NYSE:MXL) last released its earnings results on Monday, August 8th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. The business had revenue of $101.70 million for the quarter, compared to the consensus estimate of $101.94 million. MaxLinear had a return on equity of 35.97% and a net margin of 8.72%. MaxLinear’s quarterly revenue was up 43.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 earnings per share. On average, analysts expect that MaxLinear will post $1.74 EPS for the current year.
In other news, VP Brendan Walsh sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $18.04, for a total transaction of $225,500.00. Following the completion of the sale, the vice president now owns 162,210 shares in the company, valued at $2,926,268.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 12.48% of the company’s stock.
Several large investors have recently modified their holdings of the company. Lord Abbett & CO. LLC boosted 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 worth $43,045,000 after buying an additional 1,717,539 shares in the last quarter. Mesirow Financial Investment Management Equity Management bought a new stake in shares of MaxLinear during the second quarter valued at about $16,626,000. Numeric Investors LLC boosted its stake in shares of MaxLinear by 433.2% in the second quarter. Numeric Investors LLC now owns 739,048 shares of the company’s stock valued at $13,288,000 after buying an additional 600,448 shares during the period. Teachers Advisors Inc. boosted its stake in shares of MaxLinear by 527.4% in the second quarter. Teachers Advisors Inc. now owns 494,469 shares of the company’s stock valued at $8,891,000 after buying an additional 415,652 shares during the period. Finally, Vanguard Group Inc. boosted 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 period. Institutional investors own 75.96% of the company’s stock.
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.
Receive News & Ratings for MaxLinear Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MaxLinear Inc. and related companies with MarketBeat.com's FREE daily email newsletter.