MaxLinear (NASDAQ:MXL) Raised to “Buy” at Wall Street Zen

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

A number of other analysts have also recently weighed in on MXL. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $40.00 target price on shares of MaxLinear in a report on Friday, April 24th. Roth Mkm upgraded 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. Stifel Nicolaus raised their price objective on MaxLinear from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Susquehanna restated a “neutral” rating and issued a $30.00 target price on shares of MaxLinear in a report on Monday, April 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxLinear in a research report on Tuesday, April 21st. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $65.50.

MaxLinear Stock Performance

Shares of MaxLinear stock opened at $93.12 on Friday. The business has a fifty day simple moving average of $87.41 and a 200-day simple moving average of $42.76. MaxLinear has a fifty-two week low of $12.77 and a fifty-two week high of $128.30. The firm has a market cap of $8.34 billion, a price-to-earnings ratio of -61.26 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.

MaxLinear (NASDAQ:MXL) last released its earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $137.19 million for the quarter, compared to analyst estimates of $137.15 million. During the same period in the previous year, the company earned ($0.05) earnings per share. MaxLinear’s revenue was up 43.0% compared to the same quarter last year. On average, equities analysts forecast that MaxLinear will post 0.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other MaxLinear news, insider Connie H. Kwong sold 35,000 shares of the company’s stock in a transaction dated 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 $1,352,301.12. This represents a 71.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas E. Pardun sold 11,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $105.00, for a total value of $1,155,000.00. Following the sale, the director directly owned 55,252 shares of the company’s stock, valued at $5,801,460. This trade represents a 16.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 65,168 shares of company stock valued at $5,559,358 in the last three months. Company insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On MaxLinear

A number of hedge funds have recently added to or reduced their stakes in the company. Glenmede Trust Co. NA lifted its stake in MaxLinear by 66.2% during the first quarter. Glenmede Trust Co. NA now owns 37,836 shares of the semiconductor company’s stock worth $658,000 after purchasing an additional 15,072 shares during the period. Bank of America Corp DE grew its stake in shares of MaxLinear by 6.9% in the 1st quarter. Bank of America Corp DE now owns 641,034 shares of the semiconductor company’s stock valued at $11,148,000 after purchasing an additional 41,119 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of MaxLinear by 16.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock worth $27,000 after buying an additional 217 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of MaxLinear by 28.4% in the 1st quarter. California State Teachers Retirement System now owns 104,040 shares of the semiconductor company’s stock worth $1,809,000 after buying an additional 22,993 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its position in shares of MaxLinear by 14.3% during the 1st quarter. Quantinno Capital Management LP now owns 47,858 shares of the semiconductor company’s stock worth $832,000 after buying an additional 5,982 shares during the period. Institutional investors and hedge funds own 90.79% of the company’s stock.

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.