MaxLinear (NASDAQ:MXL) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of MaxLinear (NASDAQ:MXL) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday morning,Zacks reports.

A number of other research firms also recently weighed in on MXL. Wall Street Zen raised MaxLinear from a “hold” rating to a “buy” rating in a research note on Sunday, July 26th. Roth Capital raised their price target on MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Wells Fargo & Company decreased their price objective on MaxLinear from $95.00 to $78.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 20th. Susquehanna set a $70.00 price objective on MaxLinear in a report on Friday, October 23rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a research note on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.30.

MaxLinear Stock Down 4.7%

Shares of NASDAQ:MXL opened at $71.61 on Wednesday. MaxLinear has a one year low of $12.77 and a one year high of $128.30. The company has a 50 day moving average of $77.15 and a 200-day moving average of $59.12. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.22 and a quick ratio of 1.57. The stock has a market cap of $6.49 billion, a price-to-earnings ratio of -193.54 and a beta of 3.93.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings results on Thursday, October 22nd. The semiconductor company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.06. MaxLinear had a negative net margin of 4.45% and a positive return on equity of 12.89%. The business had revenue of $218.06 million during the quarter, compared to the consensus estimate of $214.95 million. During the same period in the previous year, the firm posted $0.14 earnings per share. MaxLinear’s revenue for the quarter was up 72.4% compared to the same quarter last year. On average, sell-side analysts forecast that MaxLinear will post 1.10 earnings per share for the current year.

Insider Transactions at MaxLinear

In other MaxLinear news, CEO Kishore Seendripu sold 351,454 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $85.95, for a total value of $30,207,471.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On MaxLinear

Hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its holdings in shares of MaxLinear by 16.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 217 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of MaxLinear by 16.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,678 shares of the semiconductor company’s stock worth $215,000 after purchasing an additional 232 shares during the period. Carolina Wealth Advisors LLC lifted its holdings in shares of MaxLinear by 65.0% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 612 shares of the semiconductor company’s stock valued at $55,000 after purchasing an additional 241 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in shares of MaxLinear during the 2nd quarter valued at about $32,000. Finally, Abel Hall LLC lifted its holdings in shares of MaxLinear by 8.4% during the 3rd quarter. Abel Hall LLC now owns 3,958 shares of the semiconductor company’s stock valued at $357,000 after purchasing an additional 308 shares in the last quarter. 90.79% of the stock is owned by institutional investors.

MaxLinear Company Profile

MaxLinear, Inc is a fabless semiconductor company that designs, develops and sells integrated circuits and related solutions for broadband communications, wired and wireless infrastructure, data centers, industrial applications and consumer electronics. Its products are used by equipment manufacturers and service providers to support the transmission, processing and management of voice, video and data.

The company’s portfolio includes broadband access system-on-chip products, Ethernet transceivers and controllers, high-speed interconnect and communications devices, radio-frequency and analog products, optical and copper connectivity solutions, and power-management components.