MaxLinear (MXL) Upgraded at ValuEngine

ValuEngine upgraded shares of MaxLinear (NYSE:MXL) from a strong sell rating to a sell rating in a research report released on Thursday.

A number of other brokerages have also recently weighed in on MXL. Deutsche Bank cut MaxLinear from a buy rating to a hold rating and set a $30.00 price objective for the company. in a research note on Wednesday, May 9th. Stifel Nicolaus decreased their price objective on MaxLinear from $33.00 to $31.00 and set a buy rating for the company in a research note on Wednesday, May 9th. Zacks Investment Research upgraded MaxLinear from a sell rating to a hold rating in a research note on Wednesday, April 18th. Roth Capital restated a neutral rating and set a $20.00 price objective (down from $27.00) on shares of MaxLinear in a research note on Monday, June 11th. Finally, William Blair assumed coverage on MaxLinear in a research note on Monday, June 4th. They set an outperform rating for the company. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $25.00.

Shares of MaxLinear opened at $18.40 on Thursday, according to Marketbeat. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.62 and a quick ratio of 2.32. The firm has a market cap of $1.25 billion, a P/E ratio of 15.59, a P/E/G ratio of 0.96 and a beta of 0.65. MaxLinear has a 1-year low of $15.39 and a 1-year high of $28.06.

MaxLinear (NYSE:MXL) last issued its quarterly earnings data on Tuesday, August 7th. The semiconductor company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. The firm had revenue of $101.53 million during the quarter. MaxLinear had a positive return on equity of 19.00% and a negative net margin of 9.37%. equities analysts forecast that MaxLinear will post 0.67 EPS for the current fiscal year.

In other MaxLinear news, CEO Kishore Seendripu purchased 27,100 shares of the firm’s stock in a transaction on Friday, August 10th. The stock was bought at an average cost of $18.47 per share, for a total transaction of $500,537.00. Following the completion of the purchase, the chief executive officer now owns 130,474 shares in the company, valued at approximately $2,409,854.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Connie H. Kwong sold 1,500 shares of the stock in a transaction dated Thursday, May 17th. The shares were sold at an average price of $19.30, for a total value of $28,950.00. Following the completion of the sale, the insider now owns 5,609 shares of the company’s stock, valued at $108,253.70. The disclosure for this sale can be found here. Company insiders own 11.47% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Avalon Global Asset Management LLC raised its stake in MaxLinear by 8.7% in the second quarter. Avalon Global Asset Management LLC now owns 186,500 shares of the semiconductor company’s stock valued at $2,908,000 after buying an additional 15,000 shares during the last quarter. FMR LLC raised its stake in MaxLinear by 15.7% in the second quarter. FMR LLC now owns 4,205,480 shares of the semiconductor company’s stock valued at $65,563,000 after buying an additional 570,185 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in MaxLinear by 9.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,496,425 shares of the semiconductor company’s stock valued at $23,330,000 after buying an additional 126,812 shares during the last quarter. Legal & General Group Plc raised its stake in MaxLinear by 6.6% in the second quarter. Legal & General Group Plc now owns 133,623 shares of the semiconductor company’s stock valued at $2,089,000 after buying an additional 8,241 shares during the last quarter. Finally, BlackRock Inc. raised its stake in MaxLinear by 11.4% in the second quarter. BlackRock Inc. now owns 8,651,323 shares of the semiconductor company’s stock valued at $134,873,000 after buying an additional 888,287 shares during the last quarter. Institutional investors own 92.56% of the company’s stock.

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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