MaxLinear, Inc (NYSE:MXL) Posts Earnings Results
MaxLinear, Inc (NYSE:MXL) released its quarterly earnings data on Tuesday. The semiconductor company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.04, Morningstar.com reports. MaxLinear had a net margin of 13.12% and a return on equity of 26.77%. The firm had revenue of $104.18 million for the quarter, compared to analyst estimates of $107.77 million. During the same period last year, the firm earned $0.50 earnings per share. The business’s quarterly revenue was up 2.4% compared to the same quarter last year.
Shares of MaxLinear (NYSE:MXL) traded down 8.26% during mid-day trading on Wednesday, hitting $22.65. 2,262,452 shares of the stock traded hands. MaxLinear has a 1-year low of $17.13 and a 1-year high of $32.47. The company’s 50-day moving average price is $27.50 and its 200 day moving average price is $27.63. The company has a market capitalization of $1.48 billion, a PE ratio of 31.41 and a beta of 0.61.
MXL has been the topic of a number of recent research reports. Stifel Nicolaus raised their price objective on shares of MaxLinear from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, July 4th. Deutsche Bank AG lowered their target price on shares of MaxLinear from $33.00 to $32.00 and set a “buy” rating for the company in a report on Friday, July 21st. Zacks Investment Research upgraded shares of MaxLinear from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a report on Wednesday, April 12th. Needham & Company LLC increased their target price on shares of MaxLinear from $32.00 to $34.00 and gave the company a “buy” rating in a report on Friday, June 9th. Finally, BidaskClub downgraded shares of MaxLinear from a “buy” rating to a “hold” rating in a report on Friday, June 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $31.36.
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In related news, VP Michael J. Lachance sold 40,000 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $31.12, for a total value of $1,244,800.00. Following the transaction, the vice president now owns 84,734 shares in the company, valued at approximately $2,636,922.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Madhukar Reddy sold 52,979 shares of the company’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $31.32, for a total transaction of $1,659,302.28. Following the completion of the transaction, the vice president now owns 226,671 shares in the company, valued at approximately $7,099,335.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 276,004 shares of company stock worth $8,638,836. 11.92% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in MXL. BlackRock Inc. boosted its position in MaxLinear by 74,544.4% in the first quarter. BlackRock Inc. now owns 3,342,576 shares of the semiconductor company’s stock valued at $93,758,000 after buying an additional 3,338,098 shares in the last quarter. William Blair Investment Management LLC boosted its position in MaxLinear by 750.3% in the first quarter. William Blair Investment Management LLC now owns 3,752,779 shares of the semiconductor company’s stock valued at $105,265,000 after buying an additional 3,311,413 shares in the last quarter. Ranger Investment Management L.P. bought a new position in MaxLinear during the first quarter valued at about $22,169,000. Columbus Circle Investors bought a new position in MaxLinear during the first quarter valued at about $15,816,000. Finally, Mesirow Financial Investment Management Equity Management bought a new position in MaxLinear during the second quarter valued at about $13,721,000. Institutional investors own 85.44% of the company’s stock.
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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