MaxLinear (NYSE:MXL) Upgraded to “Hold” by Zacks Investment Research

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Zacks Investment Research upgraded shares of MaxLinear (NYSE:MXL) from a sell rating to a hold rating in a report released on Friday morning, Zacks.com reports.

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. “

Several other research firms have also recently commented on MXL. Deutsche Bank set a $25.00 target price on MaxLinear and gave the company a hold rating in a research note on Friday, July 26th. Wells Fargo & Co began coverage on MaxLinear in a research note on Tuesday, May 14th. They issued a market perform rating for the company. Roth Capital lowered their target price on MaxLinear from $28.00 to $23.00 and set a neutral rating for the company in a research note on Tuesday, June 4th. ValuEngine cut MaxLinear from a strong-buy rating to a buy rating in a research note on Thursday, August 1st. Finally, Needham & Company LLC cut MaxLinear from a buy rating to a hold rating in a research note on Thursday, May 2nd. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $20.80.

Shares of MXL opened at $20.18 on Friday. The company has a fifty day simple moving average of $23.55. The company has a current ratio of 2.58, a quick ratio of 1.94 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 company has a market cap of $1.44 billion, a P/E ratio of 25.87, a price-to-earnings-growth ratio of 3.69 and a beta of 1.27.

MaxLinear (NYSE:MXL) last issued its quarterly earnings data on Thursday, July 25th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.11. The firm had revenue of $82.50 million during the quarter, compared to the consensus estimate of $82.58 million. MaxLinear had a positive return on equity of 7.16% and a negative net margin of 6.09%. The business’s revenue for the quarter was down 18.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS. On average, sell-side analysts forecast that MaxLinear will post 0.45 EPS for the current fiscal year.

In related news, VP Michael J. Lachance sold 3,495 shares of MaxLinear stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $21.90, for a total transaction of $76,540.50. Following the completion of the sale, the vice president now directly owns 56,475 shares of the company’s stock, valued at $1,236,802.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Michael J. Lachance sold 34,332 shares of MaxLinear stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $21.91, for a total value of $752,214.12. Following the sale, the vice president now directly owns 38,051 shares of the company’s stock, valued at $833,697.41. The disclosure for this sale can be found here. Insiders sold a total of 74,297 shares of company stock valued at $1,618,330 over the last three months. Insiders own 9.97% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Truvestments Capital LLC acquired a new stake in shares of MaxLinear during the first quarter worth $59,000. Bank of Montreal Can grew its stake in shares of MaxLinear by 42.6% during the first quarter. Bank of Montreal Can now owns 5,315 shares of the semiconductor company’s stock worth $136,000 after purchasing an additional 1,587 shares during the period. Everence Capital Management Inc. acquired a new stake in shares of MaxLinear during the first quarter worth $220,000. Amalgamated Bank acquired a new stake in shares of MaxLinear during the fourth quarter worth $177,000. Finally, O Shaughnessy Asset Management LLC acquired a new stake in shares of MaxLinear during the first quarter worth $343,000. 91.71% of the stock is owned by institutional investors and hedge funds.

MaxLinear Company Profile

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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