MaxLinear (NASDAQ:MXL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of MaxLinear (NASDAQ:MXL) from a hold rating to a buy rating in a research report report published on Sunday morning.

Several other research analysts also recently commented on MXL. Roth Capital lifted their target price on shares of MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Friday. Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a report on Friday, July 17th. Benchmark initiated coverage on MaxLinear in a research report on Wednesday, May 27th. They issued a “buy” rating and a $125.00 price target on the stock. Susquehanna raised their price target on MaxLinear from $45.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Loop Capital upgraded MaxLinear from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $17.00 to $75.00 in a research note on Wednesday, April 29th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $85.00.

MaxLinear Trading Down 9.1%

Shares of MXL stock opened at $58.94 on Friday. MaxLinear has a 12 month low of $12.77 and a 12 month high of $128.30. The company has a quick ratio of 1.15, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. The business’s 50 day moving average is $88.99 and its two-hundred day moving average is $50.71. The company has a market cap of $5.28 billion, a PE ratio of -49.53 and a beta of 3.91.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The company had revenue of $168.85 million for the quarter, compared to analyst estimates of $164.64 million. MaxLinear had a negative net margin of 18.24% and a positive return on equity of 2.24%. The company’s quarterly revenue was up 55.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.02 earnings per share. Equities analysts predict that MaxLinear will post 0.5 EPS for the current year.

Insiders Place Their Bets

In related news, insider Connie H. Kwong sold 35,000 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $96.96, for a total transaction of $3,393,600.00. Following the completion of the transaction, the insider directly owned 13,947 shares in the company, valued at $1,352,301.12. This represents a 71.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas E. Pardun sold 11,000 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $105.00, for a total transaction of $1,155,000.00. Following the completion of the sale, the director directly owned 55,252 shares of the company’s stock, valued at approximately $5,801,460. This trade represents a 16.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On MaxLinear

Several hedge funds have recently made changes to their positions in the stock. Larson Financial Group LLC increased its stake in MaxLinear by 161.7% during the fourth quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 875 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of MaxLinear by 103.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 726 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of MaxLinear during the 4th quarter worth approximately $25,000. International Assets Investment Management LLC acquired a new stake in shares of MaxLinear during the 4th quarter worth approximately $27,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of MaxLinear by 16.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 217 shares during the period. Institutional investors own 90.79% of the company’s stock.

MaxLinear Company Profile

MaxLinear, Inc is a provider of radio-frequency (RF), analog, and mixed-signal integrated circuits for broadband communications, data center connectivity, and video infrastructure applications. The company’s product portfolio includes high-performance RF front-end modules, broadband power amplifiers, optical and Ethernet transceivers, and network processors designed to support demanding signal processing requirements.

MaxLinear’s semiconductor solutions are used by cable and satellite television operators, fiber-to-the-home service providers, network equipment manufacturers, and data center operators.