MaxLinear, Inc (MXL) Stock Rating Lowered by BidaskClub
BidaskClub lowered shares of MaxLinear, Inc (NYSE:MXL) from a sell rating to a strong sell rating in a research report report published on Thursday morning.
Several other brokerages have also recently weighed in on MXL. Needham & Company LLC upped their price objective on shares of MaxLinear from $32.00 to $34.00 and gave the stock a buy rating in a research note on Friday, June 9th. Zacks Investment Research cut shares of MaxLinear from a buy rating to a hold rating in a research note on Tuesday, May 16th. Deutsche Bank AG decreased their price objective on shares of MaxLinear from $32.00 to $30.00 and set a buy rating on the stock in a research note on Wednesday, August 9th. TheStreet cut shares of MaxLinear from a b rating to a c+ rating in a research note on Thursday, August 10th. Finally, Stifel Nicolaus upped their price objective on shares of MaxLinear from $34.00 to $36.00 and gave the stock a buy rating in a research note on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $31.36.
MaxLinear (NYSE MXL) opened at 21.72 on Thursday. The stock’s 50 day moving average price is $24.81 and its 200-day moving average price is $27.29. MaxLinear has a 52 week low of $17.82 and a 52 week high of $32.47. The stock has a market capitalization of $1.45 billion, a P/E ratio of 39.28 and a beta of 0.61.
MaxLinear (NYSE:MXL) last issued its quarterly earnings data on Tuesday, August 8th. The semiconductor company reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.04. The firm had revenue of $104.18 million for the quarter, compared to analysts’ expectations of $107.77 million. MaxLinear had a net margin of 9.95% and a return on equity of 22.29%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.50 earnings per share. Equities research analysts expect that MaxLinear will post $1.39 earnings per share for the current year.
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In other news, VP Madhukar Reddy sold 52,979 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $31.32, for a total transaction of $1,659,302.28. Following the sale, the vice president now directly owns 226,671 shares of the company’s stock, valued at $7,099,335.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 11.92% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. LS Investment Advisors LLC bought a new stake in MaxLinear during the second quarter valued at approximately $134,000. Ameritas Investment Partners Inc. bought a new stake in MaxLinear during the first quarter valued at approximately $135,000. D.A. Davidson & CO. boosted its stake in MaxLinear by 0.9% in the second quarter. D.A. Davidson & CO. now owns 5,298 shares of the semiconductor company’s stock valued at $147,000 after buying an additional 45 shares during the period. Envestnet Asset Management Inc. boosted its stake in MaxLinear by 10.8% in the first quarter. Envestnet Asset Management Inc. now owns 6,404 shares of the semiconductor company’s stock valued at $179,000 after buying an additional 624 shares during the period. Finally, Pinebridge Investments L.P. bought a new stake in MaxLinear during the second quarter valued at approximately $192,000. 86.26% of the stock is currently owned by institutional investors and hedge funds.
MaxLinear Company Profile
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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