Wall Street Zen Downgrades MaxLinear (NASDAQ:MXL) to Hold

MaxLinear (NASDAQ:MXL) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Other research analysts have also issued research reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a research note on Tuesday, April 21st. Northland Securities set a $110.00 price objective on MaxLinear in a research report on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $40.00 target price on shares of MaxLinear in a research note on Friday, April 24th. Roth Capital upgraded MaxLinear from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Friday, April 24th. Finally, Benchmark began coverage on MaxLinear in a research note on Wednesday, May 27th. They issued a “buy” rating and a $125.00 price target on the stock. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, MaxLinear currently has an average rating of “Hold” and a consensus price target of $65.50.

MaxLinear Stock Performance

Shares of NASDAQ MXL opened at $71.84 on Friday. The company has a 50-day simple moving average of $91.21 and a 200-day simple moving average of $47.84. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.70 and a quick ratio of 1.12. The company has a market cap of $6.43 billion, a PE ratio of -47.26 and a beta of 3.91. MaxLinear has a 12 month low of $12.77 and a 12 month high of $128.30.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings data on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.04. MaxLinear had a negative net margin of 25.96% and a negative return on equity of 2.33%. The business had revenue of $137.19 million for the quarter, compared to the consensus estimate of $137.15 million. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. The company’s quarterly revenue was up 43.0% compared to the same quarter last year. On average, equities analysts anticipate that MaxLinear will post 0.52 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Thomas E. Pardun sold 11,000 shares of MaxLinear stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $105.00, for a total value of $1,155,000.00. Following the transaction, the director owned 55,252 shares in the company, valued at approximately $5,801,460. This trade represents a 16.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Connie H. Kwong sold 35,000 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $96.96, for a total value of $3,393,600.00. Following the sale, the insider directly owned 13,947 shares of the company’s stock, valued at approximately $1,352,301.12. This trade represents a 71.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 65,168 shares of company stock valued at $5,559,358. Insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On MaxLinear

Large investors have recently modified their holdings of the company. Handelsbanken Fonder AB lifted its stake in shares of MaxLinear by 7.4% in the 2nd quarter. Handelsbanken Fonder AB now owns 39,381 shares of the semiconductor company’s stock valued at $5,042,000 after purchasing an additional 2,700 shares in the last quarter. Carolina Wealth Advisors LLC purchased a new stake in shares of MaxLinear during the 2nd quarter worth about $47,000. World Equity Group Inc. acquired a new stake in MaxLinear during the 2nd quarter worth approximately $285,000. Arista Wealth Management LLC acquired a new stake in MaxLinear during the 2nd quarter worth approximately $387,000. Finally, UNICOM Systems Inc. purchased a new position in MaxLinear in the second quarter valued at approximately $14,711,000. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

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.