MaxLinear, Inc (MXL) Stock Rating Lowered by BidaskClub

MaxLinear, Inc (NYSE:MXL) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Saturday, August 5th.

Other equities research analysts have also recently issued research reports about the company. Stifel Nicolaus raised their target price on MaxLinear from $34.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, May 10th. Zacks Investment Research raised MaxLinear from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Wednesday, April 12th. Deutsche Bank AG decreased their target price on MaxLinear from $33.00 to $32.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Finally, Needham & Company LLC decreased their target price on MaxLinear from $34.00 to $32.00 and set a “buy” rating for the company in a research note on Monday, July 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $31.36.

Shares of MaxLinear (NYSE MXL) traded up 2.01% during mid-day trading on Friday, reaching $21.29. The company had a trading volume of 992,557 shares. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 38.50 and a beta of 0.61. MaxLinear has a 52-week low of $17.61 and a 52-week high of $32.47. The firm’s 50-day moving average price is $25.67 and its 200 day moving average price is $27.46.

MaxLinear (NYSE:MXL) last released its earnings results on Tuesday, August 8th. The semiconductor company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.23 by $0.04. MaxLinear had a return on equity of 22.29% and a net margin of 9.95%. The business had revenue of $104.18 million during the quarter, compared to analysts’ expectations of $107.77 million. During the same quarter last year, the firm posted $0.50 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis. Equities analysts expect that MaxLinear will post $1.39 EPS for the current year.

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In other news, Director Albert J. Moyer sold 21,149 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $31.86, for a total value of $673,807.14. Following the transaction, the director now owns 75,857 shares in the company, valued at $2,416,804.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Madhukar Reddy sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $31.68, for a total value of $1,900,800.00. Following the completion of the transaction, the vice president now owns 245,819 shares in the company, valued at approximately $7,787,545.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 176,495 shares of company stock worth $5,547,833. Corporate insiders own 11.92% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. LS Investment Advisors LLC bought a new position in MaxLinear during the second quarter worth $134,000. Ameritas Investment Partners Inc. bought a new position in MaxLinear during the first quarter worth $135,000. D.A. Davidson & CO. raised its position in MaxLinear by 0.9% in the second quarter. D.A. Davidson & CO. now owns 5,298 shares of the semiconductor company’s stock worth $147,000 after buying an additional 45 shares in the last quarter. Envestnet Asset Management Inc. raised its position in MaxLinear by 10.8% in the first quarter. Envestnet Asset Management Inc. now owns 6,404 shares of the semiconductor company’s stock worth $179,000 after buying an additional 624 shares in the last quarter. Finally, Pinebridge Investments L.P. bought a new position in MaxLinear during the second quarter worth $192,000. Institutional investors own 86.26% of the company’s stock.

MaxLinear Company Profile

MaxLinear, Inc is a provider of radio frequency (RF) and mixed-signal integrated circuits for cable and satellite broadband communications and the connected home, and wired and wireless infrastructure markets. The Company’s RF receiver products capture and process digital and analog broadband signals to be decoded for various applications.

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