Zacks Investment Research upgraded shares of MaxLinear Inc. (NYSE:MXL) from a hold rating to a strong-buy rating in a report issued on Wednesday. Zacks Investment Research currently has $24.00 price target on the stock.
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. “
Other analysts also recently issued reports about the company. Deutsche Bank AG dropped their price objective on MaxLinear from $30.00 to $25.00 and set a buy rating for the company in a report on Tuesday, August 9th. Needham & Company LLC reaffirmed a buy rating and set a $21.00 price target on shares of MaxLinear in a research report on Tuesday, August 9th. Finally, Stifel Nicolaus decreased their price target on shares of MaxLinear from $26.00 to $24.00 and set a buy rating for the company in a research report on Tuesday, August 9th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and an average price target of $21.00.
Shares of MaxLinear (NYSE:MXL) opened at 19.39 on Wednesday. The firm has a market capitalization of $1.24 billion, a PE ratio of 34.44 and a beta of 0.48. MaxLinear has a 1-year low of $12.67 and a 1-year high of $22.50. The firm has a 50-day moving average price of $19.69 and a 200-day moving average price of $19.21.
MaxLinear (NYSE:MXL) last released its quarterly earnings data on Monday, August 8th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. The business earned $101.70 million during 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%. The business’s revenue for the quarter was up 43.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.21 EPS. On average, analysts forecast that MaxLinear will post $1.74 EPS for the current fiscal year.
In other news, VP Brendan Walsh sold 12,500 shares of the stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $18.04, for a total transaction of $225,500.00. Following the transaction, the vice president now owns 162,210 shares of the company’s stock, valued at $2,926,268.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.48% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of MXL. 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 valued at $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 valued at $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 valued at $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 valued at $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 valued at $687,000 after buying an additional 1,779 shares during the last quarter. 75.96% 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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