MaxLinear (NYSE:MXL) Upgraded to C- by TheStreet

MaxLinear (NYSE:MXL) was upgraded by research analysts at TheStreet from a “d+” rating to a “c-” rating in a research note issued to investors on Thursday, TheStreetRatingsTable reports.

Other equities research analysts also recently issued reports about the stock. Loop Capital initiated coverage on shares of MaxLinear in a research note on Thursday, July 23rd. They issued a “hold” rating and a $27.00 price target for the company. Roth Capital raised shares of MaxLinear from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Friday, July 24th. ValuEngine cut shares of MaxLinear from a “buy” rating to a “hold” rating in a report on Wednesday, July 8th. Deutsche Bank boosted their price target on shares of MaxLinear from $24.00 to $30.00 and gave the stock a “hold” rating in a report on Friday, July 24th. Finally, Stifel Nicolaus boosted their price target on shares of MaxLinear from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $29.40.

NYSE MXL traded down $0.39 during mid-day trading on Thursday, reaching $25.35. 706,054 shares of the stock were exchanged, compared to its average volume of 933,699. MaxLinear has a one year low of $7.79 and a one year high of $28.10. The stock has a 50 day simple moving average of $22.94 and a 200-day simple moving average of $18.02. The stock has a market cap of $1.85 billion, a P/E ratio of -36.74, a P/E/G ratio of 32.17 and a beta of 1.87. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.72 and a quick ratio of 2.23.

MaxLinear (NYSE:MXL) last posted its quarterly earnings results on Thursday, July 23rd. The semiconductor company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. MaxLinear had a negative net margin of 18.07% and a positive return on equity of 3.13%. The firm had revenue of $65.22 million during the quarter, compared to the consensus estimate of $65.29 million. Sell-side analysts anticipate that MaxLinear will post 0.04 EPS for the current fiscal year.

In other MaxLinear news, CEO Kishore Seendripu sold 30,000 shares of the business’s stock in a transaction dated Tuesday, July 14th. The shares were sold at an average price of $24.83, for a total value of $744,900.00. Following the transaction, the chief executive officer now directly owns 100,651 shares in the company, valued at $2,499,164.33. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Madhukar Reddy sold 25,352 shares of the business’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $16.17, for a total transaction of $409,941.84. Following the completion of the transaction, the vice president now owns 365,950 shares in the company, valued at $5,917,411.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 173,431 shares of company stock worth $3,301,835. Corporate insiders own 9.97% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Comerica Bank boosted its stake in MaxLinear by 43.0% in the second quarter. Comerica Bank now owns 90,759 shares of the semiconductor company’s stock valued at $2,419,000 after acquiring an additional 27,284 shares during the last quarter. Brinker Capital Inc. bought a new position in shares of MaxLinear in the 2nd quarter worth about $368,000. Moody Aldrich Partners LLC bought a new position in shares of MaxLinear in the 2nd quarter worth about $3,502,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of MaxLinear by 32.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,992 shares of the semiconductor company’s stock worth $150,000 after acquiring an additional 1,730 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of MaxLinear by 1,201.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,070 shares of the semiconductor company’s stock worth $173,000 after acquiring an additional 7,450 shares in the last quarter. Hedge funds and other institutional investors own 82.66% of the company’s stock.

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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Analyst Recommendations for MaxLinear (NYSE:MXL)

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