MaxLinear (NYSE:MXL) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of MaxLinear (NYSE:MXL) from a hold rating to a sell rating in a research note issued to investors on Wednesday, 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. “

A number of other research firms have also commented on MXL. ValuEngine raised shares of Zogenix from a buy rating to a strong-buy rating in a research report on Thursday, June 27th. Needham & Company LLC raised their price target on shares of Alteryx to $108.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. Wells Fargo & Co initiated coverage on shares of Semtech in a research report on Tuesday, May 14th. They set an outperform rating and a $48.03 price target on the stock. Finally, Roth Capital lowered their price target on shares of MaxLinear from $28.00 to $23.00 and set a neutral rating on the stock in a research report on Tuesday, June 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $20.80.

NYSE MXL opened at $24.79 on Wednesday. The business’s 50-day moving average is $22.60. The company has a current ratio of 2.44, a quick ratio of 1.86 and a debt-to-equity ratio of 0.59. The firm has a market cap of $1.75 billion, a PE ratio of 49.58, a PEG ratio of 3.49 and a beta of 1.29. MaxLinear has a 52-week low of $14.87 and a 52-week high of $28.70.

MaxLinear (NYSE:MXL) last posted its earnings results on Wednesday, May 1st. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. The company had revenue of $84.64 million during the quarter, compared to analysts’ expectations of $84.44 million. MaxLinear had a negative net margin of 9.17% and a positive return on equity of 8.68%. MaxLinear’s quarterly revenue was down 23.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.37 EPS. On average, equities analysts anticipate that MaxLinear will post 0.57 EPS for the current fiscal year.

In related news, VP Michael J. Lachance sold 3,495 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were 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 $1,236,802.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 9.97% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Cortina Asset Management LLC lifted its position in shares of MaxLinear by 25.1% in the 2nd quarter. Cortina Asset Management LLC now owns 219,674 shares of the semiconductor company’s stock worth $5,149,000 after purchasing an additional 44,088 shares during the period. Primecap Management Co. CA lifted its position in shares of MaxLinear by 2.1% in the 1st quarter. Primecap Management Co. CA now owns 4,901,334 shares of the semiconductor company’s stock worth $125,131,000 after purchasing an additional 99,190 shares during the period. Qtron Investments LLC acquired a new position in shares of MaxLinear in the 1st quarter worth approximately $488,000. State of Wisconsin Investment Board lifted its position in shares of MaxLinear by 3.0% in the 1st quarter. State of Wisconsin Investment Board now owns 473,900 shares of the semiconductor company’s stock worth $12,099,000 after purchasing an additional 13,900 shares during the period. Finally, William Blair Investment Management LLC lifted its position in shares of MaxLinear by 1.3% in the 1st quarter. William Blair Investment Management LLC now owns 3,111,276 shares of the semiconductor company’s stock worth $79,431,000 after purchasing an additional 40,270 shares during the period. 91.66% of the stock is currently owned by institutional investors and hedge funds.

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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