MaxLinear (NYSE:MXL) Downgraded by ValuEngine to Buy

ValuEngine lowered shares of MaxLinear (NYSE:MXL) from a strong-buy rating to a buy rating in a research note released on Thursday morning, ValuEngine reports.

Other research analysts also recently issued research reports about the stock. Roth Capital reduced their price target on shares of MaxLinear from $28.00 to $23.00 and set a neutral rating for the company in a research report on Tuesday, June 4th. Needham & Company LLC downgraded shares of MaxLinear from a buy rating to a hold rating in a research report on Thursday, May 2nd. They noted that the move was a valuation call. Wells Fargo & Co initiated coverage on shares of MaxLinear in a research report on Tuesday, May 14th. They set a market perform rating for the company. Zacks Investment Research upgraded shares of MaxLinear from a sell rating to a hold rating in a research report on Saturday, July 20th. Finally, Deutsche Bank set a $25.00 price target on shares of MaxLinear and gave the stock a hold rating in a research report on Friday, July 26th. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $20.80.

Shares of MXL traded down $0.43 during mid-day trading on Thursday, hitting $20.96. 365,187 shares of the company were exchanged, compared to its average volume of 436,714. MaxLinear has a 1-year low of $14.87 and a 1-year high of $28.70. The company has a current ratio of 2.58, a quick ratio of 1.94 and a debt-to-equity ratio of 0.59. The firm’s 50 day simple moving average is $23.64. The stock has a market cap of $1.48 billion, a PE ratio of 26.87, a price-to-earnings-growth ratio of 3.87 and a beta of 1.27.

MaxLinear (NYSE:MXL) last released its quarterly earnings results on Thursday, July 25th. The semiconductor company reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11. MaxLinear had a negative net margin of 6.09% and a positive return on equity of 7.16%. The firm had revenue of $82.50 million during the quarter, compared to the consensus estimate of $82.58 million. During the same quarter in the prior year, the firm earned $0.34 EPS. The company’s revenue for the quarter was down 18.7% on a year-over-year basis. On average, equities research analysts expect that MaxLinear will post 0.45 EPS for the current year.

In related news, VP Michael J. Lachance sold 34,332 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $21.91, for a total transaction of $752,214.12. Following the completion of the sale, the vice president now owns 38,051 shares of the company’s stock, valued at approximately $833,697.41. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Michael J. Lachance sold 3,495 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $21.90, for a total transaction of $76,540.50. Following the sale, the vice president now directly owns 56,475 shares of the company’s stock, valued at approximately $1,236,802.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 74,297 shares of company stock valued at $1,618,330. 9.97% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund grew its stake in shares of MaxLinear by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 24,306 shares of the semiconductor company’s stock valued at $621,000 after buying an additional 439 shares during the period. Legal & General Group Plc grew its stake in shares of MaxLinear by 0.3% in the 4th quarter. Legal & General Group Plc now owns 145,927 shares of the semiconductor company’s stock valued at $2,570,000 after buying an additional 455 shares during the period. State of Alaska Department of Revenue grew its stake in shares of MaxLinear by 2.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 21,872 shares of the semiconductor company’s stock valued at $512,000 after buying an additional 536 shares during the period. Mason Street Advisors LLC grew its stake in shares of MaxLinear by 4.3% in the 1st quarter. Mason Street Advisors LLC now owns 20,328 shares of the semiconductor company’s stock valued at $519,000 after buying an additional 838 shares during the period. Finally, Piedmont Investment Advisors Inc. grew its stake in shares of MaxLinear by 6.4% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 15,894 shares of the semiconductor company’s stock valued at $406,000 after buying an additional 951 shares during the period. 91.71% of the stock is owned by institutional investors.

About MaxLinear

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.

Featured Story: Convertible Shares

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for MaxLinear (NYSE:MXL)

Receive News & Ratings for MaxLinear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MaxLinear and related companies with MarketBeat.com's FREE daily email newsletter.