Zacks Investment Research upgraded shares of MaxLinear Inc. (NYSE:MXL) from a hold rating to a strong-buy rating in a report published 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 research analysts have also issued reports about the company. Deutsche Bank AG reissued a buy rating and issued a $30.00 price objective (up from $22.00) on shares of MaxLinear in a report on Monday, July 25th. Needham & Company LLC restated a buy rating and issued a $21.00 target price on shares of MaxLinear in a research note on Tuesday, August 9th. Finally, Stifel Nicolaus lowered their target price on MaxLinear from $26.00 to $24.00 and set a buy rating on the stock in a research note on Tuesday, August 9th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. MaxLinear presently has a consensus rating of Buy and an average price target of $21.00.
Shares of MaxLinear (NYSE:MXL) opened at 20.66 on Wednesday. The company has a 50-day moving average price of $19.60 and a 200-day moving average price of $19.17. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 36.70 and a beta of 0.48. MaxLinear has a 52 week low of $12.67 and a 52 week high of $22.50.
MaxLinear (NYSE:MXL) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. The business had revenue of $101.70 million for the quarter, compared to analyst estimates of $101.94 million. MaxLinear had a return on equity of 35.97% and a net margin of 8.72%. The company’s revenue was up 43.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.21 earnings per share. Equities analysts anticipate that MaxLinear will post $1.74 EPS for the current year.
In other MaxLinear news, VP Brendan Walsh sold 12,500 shares of the stock in a transaction that occurred on Friday, August 19th. The stock was 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 in the company, valued at $2,926,268.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.48% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. LPL Financial LLC purchased a new position in MaxLinear during the first quarter valued at $1,330,000. Harvest Capital Strategies LLC purchased a new position in MaxLinear during the first quarter valued at $1,388,000. Bogle Investment Management L P DE increased its position in MaxLinear by 55.0% in the first quarter. Bogle Investment Management L P DE now owns 703,803 shares of the company’s stock valued at $13,020,000 after buying an additional 249,832 shares during the period. Capital Growth Management LP purchased a new position in MaxLinear during the first quarter valued at $740,000. Finally, UBS Asset Management Americas Inc. increased its position in MaxLinear by 56.9% in the first quarter. UBS Asset Management Americas Inc. now owns 217,167 shares of the company’s stock valued at $4,017,000 after buying an additional 78,729 shares during the period. Institutional investors and hedge funds own 75.94% of the company’s stock.
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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