MaxLinear, Inc (NYSE:MXL) has received a consensus recommendation of “Buy” from the eight analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $30.40.
MXL has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of MaxLinear from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Wednesday, April 12th. Stifel Nicolaus lifted their price objective on shares of MaxLinear from $34.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, May 10th. Needham & Company LLC lifted their price objective on shares of MaxLinear from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, June 9th. BidaskClub cut shares of MaxLinear from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. Finally, Deutsche Bank AG reduced their price objective on shares of MaxLinear from $33.00 to $32.00 and set a “buy” rating on the stock in a research report on Friday, July 21st.
MaxLinear (NYSE MXL) traded up 2.11% during trading on Friday, reaching $25.20. 184,995 shares of the company’s stock were exchanged. The company has a market cap of $1.65 billion, a P/E ratio of 34.95 and a beta of 0.61. MaxLinear has a 12-month low of $17.13 and a 12-month high of $32.47. The stock’s 50-day moving average is $27.86 and its 200-day moving average is $27.70.
MaxLinear (NYSE:MXL) last released its quarterly earnings data on Tuesday, May 9th. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.04. The firm had revenue of $88.84 million for the quarter, compared to analysts’ expectations of $88.02 million. MaxLinear had a net margin of 13.12% and a return on equity of 26.77%. The company’s revenue for the quarter was down 13.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.47 earnings per share. Analysts predict that MaxLinear will post $1.42 EPS for the current fiscal year.
In related news, Director Albert J. Moyer sold 21,149 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $31.86, for a total value of $673,807.14. Following the completion of the transaction, the director now directly owns 75,857 shares of the company’s stock, valued at $2,416,804.02. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Madhukar Reddy sold 60,000 shares of the firm’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $31.68, for a total transaction of $1,900,800.00. Following the completion of the transaction, the vice president now directly owns 245,819 shares of the company’s stock, valued at $7,787,545.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 276,004 shares of company stock valued at $8,638,836. 11.92% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Karp Capital Management Corp acquired a new position in MaxLinear during the first quarter worth $217,000. Russell Investments Group Ltd. acquired a new position in MaxLinear during the fourth quarter worth $354,000. Swiss National Bank raised its position in MaxLinear by 1.5% in the first quarter. Swiss National Bank now owns 95,673 shares of the semiconductor company’s stock worth $2,684,000 after buying an additional 1,400 shares during the period. Piedmont Investment Advisors LLC raised its position in MaxLinear by 9.0% in the first quarter. Piedmont Investment Advisors LLC now owns 34,005 shares of the semiconductor company’s stock worth $954,000 after buying an additional 2,805 shares during the period. Finally, Emerald Advisers Inc. PA acquired a new position in MaxLinear during the first quarter worth $12,161,000. 85.44% of the stock is owned by hedge funds and other institutional investors.
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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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