Zacks Investment Research upgraded shares of MaxLinear (NYSE:MXL) from a sell rating to a hold rating in a research report sent 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. “

Other analysts also recently issued reports about the company. Wells Fargo & Co began coverage on MaxLinear in a research note on Tuesday, May 14th. They issued a market perform rating for the company. Needham & Company LLC downgraded MaxLinear from a buy rating to a hold rating in a research note on Thursday, May 2nd. They noted that the move was a valuation call. Roth Capital reduced their price target on MaxLinear from $28.00 to $23.00 and set a neutral rating for the company in a research note on Tuesday, June 4th. Finally, ValuEngine upgraded MaxLinear from a hold rating to a buy rating in a research note on Thursday, February 28th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. MaxLinear has an average rating of Hold and an average target price of $20.80.

Shares of NYSE MXL opened at $23.02 on Wednesday. The company has a quick ratio of 1.86, a current ratio of 2.44 and a debt-to-equity ratio of 0.59. MaxLinear has a 12 month low of $14.87 and a 12 month high of $28.70. The company has a market cap of $1.63 billion, a PE ratio of 29.51, a price-to-earnings-growth ratio of 3.26 and a beta of 1.29.

MaxLinear (NYSE:MXL) last issued its earnings results on Wednesday, May 1st. The semiconductor company reported $0.09 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.09. MaxLinear had a positive return on equity of 8.68% and a negative net margin of 9.17%. The company had revenue of $84.64 million during the quarter, compared to the consensus estimate of $84.44 million. During the same period in the previous year, the company posted $0.37 EPS. The firm’s revenue for the quarter was down 23.6% compared to the same quarter last year. On average, research analysts expect that MaxLinear will post 0.57 EPS for the current year.

In other news, VP Michael J. Lachance sold 3,495 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $21.90, for a total transaction of $76,540.50. Following the completion of the sale, the vice president now directly owns 56,475 shares in the company, valued at approximately $1,236,802.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.97% of the company’s stock.

Several large investors have recently added to or reduced their stakes in MXL. Norges Bank bought a new stake in shares of MaxLinear during the 4th quarter valued at $23,105,000. Channing Capital Management LLC raised its holdings in shares of MaxLinear by 128.9% during the 4th quarter. Channing Capital Management LLC now owns 1,256,079 shares of the semiconductor company’s stock worth $22,107,000 after buying an additional 707,366 shares in the last quarter. Macquarie Group Ltd. raised its holdings in shares of MaxLinear by 10.8% during the 4th quarter. Macquarie Group Ltd. now owns 4,816,410 shares of the semiconductor company’s stock worth $84,769,000 after buying an additional 469,445 shares in the last quarter. Eagle Asset Management Inc. acquired a new position in shares of MaxLinear during the 1st quarter worth $6,216,000. Finally, Wasatch Advisors Inc. raised its holdings in shares of MaxLinear by 100.1% during the 1st quarter. Wasatch Advisors Inc. now owns 456,883 shares of the semiconductor company’s stock worth $11,664,000 after buying an additional 228,562 shares in the last quarter. Hedge funds and other institutional investors own 91.66% 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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