MaxLinear (NASDAQ:MXL) Lowered to “Hold” Rating by 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 brokerages also recently commented on MXL. Roth Mkm raised MaxLinear from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Friday, April 24th. Loop Capital upgraded MaxLinear from a “hold” rating to a “buy” rating and increased their target price for the stock from $17.00 to $75.00 in a research report on Wednesday, April 29th. Benchmark assumed coverage on MaxLinear in a research note on Wednesday, May 27th. They issued a “buy” rating and a $125.00 price target on the stock. Susquehanna restated a “neutral” rating and issued a $30.00 price target on shares of MaxLinear in a report on Monday, April 20th. Finally, Needham & Company LLC upgraded MaxLinear from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Friday, April 24th. Five 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, the company presently has an average rating of “Hold” and an average target price of $65.00.

MaxLinear Stock Up 2.3%

MXL stock opened at $96.60 on Friday. The stock has a market capitalization of $8.65 billion, a P/E ratio of -63.55 and a beta of 3.98. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.12 and a current ratio of 1.70. MaxLinear has a one year low of $12.77 and a one year high of $106.28. The company has a 50 day moving average price of $79.69 and a two-hundred day moving average price of $39.68.

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

Insider Buying and Selling at MaxLinear

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

Institutional Investors Weigh In On MaxLinear

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. raised its holdings in shares of MaxLinear by 419.9% in the 4th quarter. Invesco Ltd. now owns 2,149,589 shares of the semiconductor company’s stock worth $37,467,000 after purchasing an additional 1,736,141 shares during the period. Paradigm Capital Management Inc. NY grew its holdings in shares of MaxLinear by 582.7% during the 4th quarter. Paradigm Capital Management Inc. NY now owns 861,000 shares of the semiconductor company’s stock worth $15,007,000 after purchasing an additional 734,875 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of MaxLinear by 27.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,889,111 shares of the semiconductor company’s stock worth $41,054,000 after purchasing an additional 628,719 shares during the period. Defiance ETFs LLC acquired a new stake in MaxLinear during the 4th quarter worth approximately $10,944,000. Finally, Vanguard Group Inc. increased its position in MaxLinear by 4.8% during the 4th quarter. Vanguard Group Inc. now owns 13,326,387 shares of the semiconductor company’s stock worth $232,279,000 after purchasing an additional 605,903 shares in the last quarter. 90.79% of the stock is currently owned by institutional investors and hedge funds.

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.