MaxLinear, Inc (NYSE:MXL) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday. The brokerage presently has a $30.00 price target on the semiconductor company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 15.38% from the company’s current price.
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. “
A number of other research firms have also recently commented on MXL. Needham & Company LLC cut their target price on MaxLinear from $34.00 to $32.00 and set a “buy” rating on the stock in a research note on Monday, July 17th. Deutsche Bank AG cut their target price on MaxLinear from $33.00 to $32.00 and set a “buy” rating on the stock in a research note on Friday, July 21st. Roth Capital cut their target price on MaxLinear from $38.00 to $33.50 and set a “buy” rating on the stock in a research note on Wednesday, August 9th. Stifel Nicolaus lowered their price target on MaxLinear from $34.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, August 9th. Finally, BidaskClub downgraded MaxLinear from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. One research analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $30.36.
Shares of MaxLinear (NYSE MXL) opened at $26.00 on Tuesday. MaxLinear has a 12 month low of $19.22 and a 12 month high of $32.47. The company has a market capitalization of $1,738.23, a price-to-earnings ratio of 22.38, a PEG ratio of 1.24 and a beta of 0.47. The company has a quick ratio of 1.58, a current ratio of 2.23 and a debt-to-equity ratio of 0.93.
MaxLinear (NYSE:MXL) last released its earnings results on Tuesday, November 7th. The semiconductor company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.06. MaxLinear had a return on equity of 20.96% and a net margin of 4.73%. The firm had revenue of $113.58 million for the quarter, compared to analysts’ expectations of $115.77 million. During the same period in the prior year, the firm posted $0.43 earnings per share. The company’s quarterly revenue was up 17.9% on a year-over-year basis. equities research analysts anticipate that MaxLinear will post 1.05 EPS for the current year.
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In other MaxLinear news, insider Daniel Omeniuk purchased 250,000 shares of the stock in a transaction dated Monday, September 25th. The shares were purchased at an average cost of $0.19 per share, with a total value of $47,500.00. Corporate insiders own 11.92% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its holdings in MaxLinear by 45.7% in the second quarter. Bank of New York Mellon Corp now owns 1,339,398 shares of the semiconductor company’s stock valued at $37,355,000 after acquiring an additional 419,925 shares during the period. Emerald Advisers Inc. PA lifted its holdings in MaxLinear by 7.2% in the second quarter. Emerald Advisers Inc. PA now owns 464,640 shares of the semiconductor company’s stock valued at $12,959,000 after acquiring an additional 31,105 shares during the period. BlackRock Inc. lifted its holdings in MaxLinear by 94.6% in the second quarter. BlackRock Inc. now owns 6,503,231 shares of the semiconductor company’s stock valued at $181,375,000 after acquiring an additional 3,160,655 shares during the period. Rhumbline Advisers lifted its holdings in MaxLinear by 68.8% in the second quarter. Rhumbline Advisers now owns 109,300 shares of the semiconductor company’s stock valued at $3,048,000 after acquiring an additional 44,541 shares during the period. Finally, UBS Asset Management Americas Inc. lifted its holdings in MaxLinear by 30.1% in the second quarter. UBS Asset Management Americas Inc. now owns 37,159 shares of the semiconductor company’s stock valued at $1,036,000 after acquiring an additional 8,601 shares during the period. 84.71% of the stock is currently owned by institutional investors.
MaxLinear, Inc is a provider of radio frequency (RF) and mixed-signal integrated circuits for cable and satellite broadband communications and the connected home, and wired and wireless infrastructure markets. The Company’s RF receiver products capture and process digital and analog broadband signals to be decoded for various applications.
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