MaxLinear (NYSE:MXL) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of MaxLinear (NYSE:MXL) from a buy rating to a hold rating in a research report sent to investors on Thursday morning, 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. “

MXL has been the topic of several other reports. Northland Securities began coverage on MaxLinear in a report on Monday, June 15th. They set a buy rating and a $27.00 price objective on the stock. Roth Capital upgraded MaxLinear from a neutral rating to a buy rating and set a $30.00 price objective on the stock in a report on Friday, July 24th. Loop Capital began coverage on MaxLinear in a report on Thursday, July 23rd. They set a hold rating and a $27.00 price objective on the stock. Needham & Company LLC lifted their price objective on MaxLinear from $23.00 to $33.00 and gave the stock a buy rating in a report on Tuesday, July 7th. They noted that the move was a valuation call. Finally, ValuEngine lowered MaxLinear from a buy rating to a hold rating in a research report on Wednesday, July 8th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $29.40.

Shares of NYSE:MXL opened at $25.35 on Thursday. The company has a market cap of $1.85 billion, a P/E ratio of -36.74, a PEG ratio of 31.69 and a beta of 1.87. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.23 and a current ratio of 2.72. MaxLinear has a one year low of $7.79 and a one year high of $28.10. The business’s 50-day simple moving average is $22.94 and its 200 day simple moving average is $18.02.

MaxLinear (NYSE:MXL) last posted its quarterly earnings data on Thursday, July 23rd. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.01. MaxLinear had a positive return on equity of 3.13% and a negative net margin of 18.07%. The company had revenue of $65.22 million for the quarter, compared to the consensus estimate of $65.29 million. Analysts predict that MaxLinear will post 0.04 earnings per share for the current year.

In related news, CEO Kishore Seendripu sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 14th. The stock was sold at an average price of $24.83, for a total transaction of $744,900.00. Following the completion of the transaction, the chief executive officer now owns 100,651 shares in the company, valued at approximately $2,499,164.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Madhukar Reddy sold 25,352 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $16.17, for a total value of $409,941.84. Following the transaction, the vice president now owns 365,950 shares of the company’s stock, valued at approximately $5,917,411.50. The disclosure for this sale can be found here. Insiders have sold a total of 173,431 shares of company stock valued at $3,301,835 in the last 90 days. Insiders own 9.97% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in MXL. Mason Street Advisors LLC raised its position in MaxLinear by 3.1% during the fourth quarter. Mason Street Advisors LLC now owns 22,684 shares of the semiconductor company’s stock valued at $481,000 after buying an additional 677 shares during the period. Stifel Financial Corp raised its position in MaxLinear by 3.6% during the fourth quarter. Stifel Financial Corp now owns 23,159 shares of the semiconductor company’s stock valued at $487,000 after buying an additional 799 shares during the period. New York State Teachers Retirement System raised its position in MaxLinear by 3.2% during the second quarter. New York State Teachers Retirement System now owns 25,763 shares of the semiconductor company’s stock valued at $553,000 after buying an additional 810 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in MaxLinear by 31.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,262 shares of the semiconductor company’s stock valued at $61,000 after buying an additional 1,270 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in MaxLinear by 32.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,992 shares of the semiconductor company’s stock valued at $150,000 after buying an additional 1,730 shares during the period. Institutional investors and hedge funds own 82.66% of the company’s stock.

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.

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