MaxLinear (NASDAQ:MXL) Rating Lowered to “Hold” at Wall Street Zen

MaxLinear (NASDAQ:MXL) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

A number of other analysts have also commented on MXL. Roth Capital raised shares of MaxLinear from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Friday, April 24th. Stifel Nicolaus lifted their target price on shares of MaxLinear from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Susquehanna restated a “neutral” rating and set a $30.00 price target on shares of MaxLinear in a report on Monday, April 20th. Benchmark initiated coverage on shares of MaxLinear in a research report on Wednesday, May 27th. They issued a “buy” rating and a $125.00 price target for the company. Finally, Needham & Company LLC upgraded shares of MaxLinear from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Friday, April 24th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, MaxLinear currently has an average rating of “Hold” and a consensus target price of $65.50.

MaxLinear Trading Down 3.4%

Shares of NASDAQ MXL opened at $71.84 on Friday. MaxLinear has a 12 month low of $12.77 and a 12 month high of $128.30. The company has a market cap of $6.43 billion, a price-to-earnings ratio of -47.26 and a beta of 3.91. The company has a quick ratio of 1.12, a current ratio of 1.70 and a debt-to-equity ratio of 0.27. The business has a fifty day simple moving average of $91.21 and a 200-day simple moving average of $47.63.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. The business had revenue of $137.19 million during the quarter, compared to analyst estimates of $137.15 million. MaxLinear had a negative return on equity of 2.33% and a negative net margin of 25.96%.MaxLinear’s revenue for the quarter was up 43.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.05) EPS. Sell-side analysts predict that MaxLinear will post 0.52 EPS for the current year.

Insider Activity

In other MaxLinear news, Director Thomas E. Pardun sold 11,000 shares of MaxLinear stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $105.00, for a total transaction of $1,155,000.00. Following the transaction, the director owned 55,252 shares of the company’s stock, valued at $5,801,460. The trade was a 16.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Connie H. Kwong sold 35,000 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $96.96, for a total value of $3,393,600.00. Following the completion of the transaction, the insider owned 13,947 shares in the company, valued at $1,352,301.12. This represents a 71.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 65,168 shares of company stock valued at $5,559,358. Company insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MXL. Pure Financial Advisors LLC acquired a new position in MaxLinear in the 4th quarter worth about $1,424,000. HighTower Advisors LLC grew its stake in shares of MaxLinear by 1.7% in the 4th quarter. HighTower Advisors LLC now owns 656,319 shares of the semiconductor company’s stock valued at $11,440,000 after buying an additional 10,948 shares in the last quarter. Pictet Asset Management Holding SA acquired a new position in MaxLinear in the fourth quarter worth approximately $190,000. Tudor Investment Corp ET AL raised its position in MaxLinear by 68.5% during the third quarter. Tudor Investment Corp ET AL now owns 427,195 shares of the semiconductor company’s stock valued at $6,869,000 after acquiring an additional 173,709 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in MaxLinear by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 13,326,387 shares of the semiconductor company’s stock valued at $232,279,000 after acquiring an additional 605,903 shares during the last quarter. 90.79% of the stock is owned by hedge funds and other institutional investors.

MaxLinear Company Profile

MaxLinear, Inc is a provider of radio-frequency (RF), analog, and mixed-signal integrated circuits for broadband communications, data center connectivity, and video infrastructure applications. The company’s product portfolio includes high-performance RF front-end modules, broadband power amplifiers, optical and Ethernet transceivers, and network processors designed to support demanding signal processing requirements.

MaxLinear’s semiconductor solutions are used by cable and satellite television operators, fiber-to-the-home service providers, network equipment manufacturers, and data center operators.