MaxLinear (NASDAQ:MXL) Stock Rating Upgraded by Zacks Research

MaxLinear (NASDAQ:MXL) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday, Zacks reports.

Other equities analysts have also recently issued reports about the stock. Needham & Company LLC lifted their price target on shares of MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Wall Street Zen raised shares of MaxLinear from a “hold” rating to a “buy” rating in a research note on Sunday, July 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a research note on Thursday, October 15th. Wells Fargo & Company dropped their target price on MaxLinear from $95.00 to $78.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 20th. Finally, Susquehanna set a $70.00 target price on MaxLinear in a research note on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, MaxLinear currently has an average rating of “Moderate Buy” and an average target price of $94.30.

MaxLinear Trading Down 4.7%

Shares of MXL stock opened at $71.61 on Wednesday. MaxLinear has a 1 year low of $12.77 and a 1 year high of $128.30. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.22 and a quick ratio of 1.57. The stock’s 50 day simple moving average is $77.15 and its two-hundred day simple moving average is $59.12. The company has a market cap of $6.49 billion, a PE ratio of -193.54 and a beta of 3.93.

MaxLinear (NASDAQ:MXL) last released its earnings results on Thursday, October 22nd. The semiconductor company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.06. The firm had revenue of $218.06 million for the quarter, compared to the consensus estimate of $214.95 million. MaxLinear had a positive return on equity of 12.89% and a negative net margin of 4.45%. The company’s revenue for the quarter was up 72.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS. Research analysts predict that MaxLinear will post 1.10 earnings per share for the current year.

Insider Activity

In related news, CEO Kishore Seendripu sold 351,454 shares of MaxLinear stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $85.95, for a total value of $30,207,471.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On MaxLinear

Several large investors have recently modified their holdings of MXL. Arlington Capital Management INC purchased a new position in shares of MaxLinear in the 3rd quarter valued at $3,786,000. Vise Technologies Inc. grew its stake in MaxLinear by 25.4% in the third quarter. Vise Technologies Inc. now owns 3,602 shares of the semiconductor company’s stock valued at $325,000 after purchasing an additional 730 shares during the last quarter. Summit Global Investments grew its stake in MaxLinear by 5.9% in the third quarter. Summit Global Investments now owns 6,524 shares of the semiconductor company’s stock valued at $589,000 after purchasing an additional 365 shares during the last quarter. Asset Management One Co. Ltd. bought a new position in MaxLinear in the third quarter worth about $506,000. Finally, Carolina Wealth Advisors LLC lifted its position in shares of MaxLinear by 65.0% during the third quarter. Carolina Wealth Advisors LLC now owns 612 shares of the semiconductor company’s stock valued at $55,000 after buying an additional 241 shares during the last quarter. Institutional investors own 90.79% of the company’s stock.

MaxLinear Company Profile

MaxLinear, Inc is a fabless semiconductor company that designs, develops and sells integrated circuits and related solutions for broadband communications, wired and wireless infrastructure, data centers, industrial applications and consumer electronics. Its products are used by equipment manufacturers and service providers to support the transmission, processing and management of voice, video and data.

The company’s portfolio includes broadband access system-on-chip products, Ethernet transceivers and controllers, high-speed interconnect and communications devices, radio-frequency and analog products, optical and copper connectivity solutions, and power-management components.