MaxLinear, Inc. (NYSE:MXL) Given Consensus Recommendation of “Hold” by Brokerages

MaxLinear, Inc. (NYSE:MXL) has been assigned an average rating of “Hold” from the nine ratings firms that are presently covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $21.00.

A number of equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of MaxLinear from a “sell” rating to a “hold” rating in a report on Wednesday, May 15th. Wells Fargo & Co assumed coverage on shares of MaxLinear in a report on Tuesday, May 14th. They issued a “market perform” rating for the company. Needham & Company LLC lowered shares of MaxLinear from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. They noted that the move was a valuation call. Roth Capital dropped their price objective on shares of MaxLinear from $28.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, June 4th. Finally, ValuEngine raised shares of MaxLinear from a “hold” rating to a “buy” rating in a research note on Thursday, February 28th.

In other MaxLinear news, VP Michael J. Lachance sold 36,470 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $21.65, for a total transaction of $789,575.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael J. Lachance sold 3,495 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $21.90, for a total transaction of $76,540.50. Following the transaction, the vice president now directly owns 56,475 shares of the company’s stock, valued at approximately $1,236,802.50. The disclosure for this sale can be found here. Company insiders own 9.97% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in shares of MaxLinear by 6.6% in the fourth quarter. Geode Capital Management LLC now owns 660,461 shares of the semiconductor company’s stock valued at $11,624,000 after purchasing an additional 41,128 shares during the period. Municipal Employees Retirement System of Michigan purchased a new position in shares of MaxLinear in the fourth quarter valued at approximately $318,000. Principal Financial Group Inc. boosted its stake in shares of MaxLinear by 1.1% in the fourth quarter. Principal Financial Group Inc. now owns 509,509 shares of the semiconductor company’s stock valued at $8,967,000 after purchasing an additional 5,395 shares during the period. Channing Capital Management LLC boosted its stake in shares of MaxLinear by 128.9% in the fourth quarter. Channing Capital Management LLC now owns 1,256,079 shares of the semiconductor company’s stock valued at $22,107,000 after purchasing an additional 707,366 shares during the period. Finally, Deutsche Bank AG boosted its stake in shares of MaxLinear by 41.7% in the fourth quarter. Deutsche Bank AG now owns 369,890 shares of the semiconductor company’s stock valued at $6,509,000 after purchasing an additional 108,920 shares during the period. 91.68% of the stock is owned by institutional investors and hedge funds.

Shares of MXL traded up $0.22 during mid-day trading on Tuesday, reaching $22.18. The stock had a trading volume of 512,521 shares, compared to its average volume of 349,631. The company has a current ratio of 2.44, a quick ratio of 1.86 and a debt-to-equity ratio of 0.59. MaxLinear has a 52-week low of $14.87 and a 52-week high of $28.70. The firm has a market capitalization of $1.57 billion, a P/E ratio of 28.44, a P/E/G ratio of 3.12 and a beta of 1.29.

MaxLinear (NYSE:MXL) last announced its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.09. MaxLinear had a negative net margin of 9.17% and a positive return on equity of 8.68%. The firm had revenue of $84.64 million during the quarter, compared to analyst estimates of $84.44 million. During the same quarter in the prior year, the firm posted $0.37 earnings per share. MaxLinear’s quarterly revenue was down 23.6% on a year-over-year basis. Equities research analysts predict that MaxLinear will post 0.57 earnings per share for the current fiscal year.

About MaxLinear

MaxLinear, Inc provides radio-frequency (RF), high-performance analog, and mixed-signal communications systems-on-chip solutions (SoCs) for the connected home, wired and wireless infrastructure, and industrial and multi-market applications worldwide. The company offers range of semiconductor products, such as RF receivers and RF receiver SoCs, wireless infrastructure backhaul RF receivers and modem SoCs, laser modulator drivers, transimpedance amplifiers, clock and data recovery circuits, interface solutions, power management products, and data encryption and compression products.

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Analyst Recommendations for MaxLinear (NYSE:MXL)

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