MaxLinear, Inc (NASDAQ:MXL) Receives Average Recommendation of “Hold” from Analysts

MaxLinear, Inc (NASDAQ:MXL) has earned a consensus recommendation of “Hold” from the ten brokerages that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $19.9375.

Several equities research analysts recently commented on MXL shares. Wall Street Zen upgraded shares of MaxLinear from a “hold” rating to a “buy” rating in a research report on Saturday, September 20th. Benchmark reiterated a “buy” rating and set a $25.00 price objective on shares of MaxLinear in a report on Friday, October 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a research report on Wednesday, October 8th. Williams Trading set a $25.00 target price on MaxLinear in a research report on Friday, October 24th. Finally, Zacks Research lowered MaxLinear from a “strong-buy” rating to a “hold” rating in a report on Monday, September 22nd.

Insider Activity

In related news, Director Daniel A. Artusi sold 20,747 shares of the company’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $15.39, for a total value of $319,296.33. Following the sale, the director owned 12,141 shares in the company, valued at $186,849.99. This represents a 63.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 7.80% of the stock is owned by corporate insiders.

Institutional Trading of MaxLinear

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Maryland State Retirement & Pension System raised its position in MaxLinear by 3.0% in the 2nd quarter. Maryland State Retirement & Pension System now owns 23,099 shares of the semiconductor company’s stock valued at $328,000 after buying an additional 680 shares during the last quarter. Amalgamated Bank grew its stake in shares of MaxLinear by 3.5% in the 3rd quarter. Amalgamated Bank now owns 23,210 shares of the semiconductor company’s stock worth $373,000 after acquiring an additional 775 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of MaxLinear by 3.5% in the third quarter. Arizona State Retirement System now owns 24,295 shares of the semiconductor company’s stock valued at $391,000 after purchasing an additional 830 shares during the last quarter. Bank of Montreal Can lifted its position in shares of MaxLinear by 7.8% during the second quarter. Bank of Montreal Can now owns 12,381 shares of the semiconductor company’s stock valued at $176,000 after purchasing an additional 896 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its holdings in MaxLinear by 2.5% during the third quarter. Louisiana State Employees Retirement System now owns 37,600 shares of the semiconductor company’s stock worth $605,000 after purchasing an additional 900 shares during the last quarter. 90.79% of the stock is owned by institutional investors.

MaxLinear Trading Down 2.0%

MXL opened at $17.69 on Friday. The company’s 50 day moving average price is $16.18 and its two-hundred day moving average price is $15.59. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -8.46 and a beta of 1.83. MaxLinear has a fifty-two week low of $8.35 and a fifty-two week high of $25.73. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.55 and a quick ratio of 1.08.

MaxLinear (NASDAQ:MXL) last released its earnings results on Thursday, October 23rd. The semiconductor company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $126.46 million during the quarter, compared to the consensus estimate of $124.66 million. MaxLinear had a negative net margin of 42.43% and a negative return on equity of 12.74%. The company’s revenue for the quarter was up 56.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.36) EPS. As a group, research analysts predict that MaxLinear will post -0.37 earnings per share for the current year.

MaxLinear declared that its board has authorized a stock buyback program on Monday, November 24th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 5.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

About MaxLinear

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.