MaxLinear (MXL) Downgraded by Zacks Investment Research

MaxLinear (NYSE:MXL) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Wednesday.

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. “

A number of other equities analysts have also recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $32.00 price target on shares of MaxLinear in a report on Wednesday, November 8th. Roth Capital reissued a “buy” rating and issued a $33.00 price target on shares of MaxLinear in a report on Friday, December 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $31.60.

MaxLinear (NYSE:MXL) opened at $28.00 on Wednesday. The stock has a market capitalization of $1,860.00, a price-to-earnings ratio of 107.69 and a beta of 0.47. MaxLinear has a 1-year low of $20.38 and a 1-year high of $32.47. The company has a current ratio of 2.23, a quick ratio of 1.58 and a debt-to-equity ratio of 0.93.

MaxLinear (NYSE:MXL) last issued its quarterly earnings data on Tuesday, November 7th. The semiconductor company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.06. The firm had revenue of $113.58 million during the quarter, compared to analysts’ expectations of $115.77 million. MaxLinear had a return on equity of 20.96% and a net margin of 4.73%. MaxLinear’s revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.43 earnings per share. analysts predict that MaxLinear will post 1.05 EPS for the current year.

In other news, insider Daniel Omeniuk sold 760,000 shares of the business’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $0.15, for a total value of $114,000.00. Insiders own 11.92% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MXL. Schwab Charles Investment Management Inc. raised its holdings in shares of MaxLinear by 7.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 242,533 shares of the semiconductor company’s stock worth $6,765,000 after acquiring an additional 15,960 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of MaxLinear by 610.0% in the second quarter. Legal & General Group Plc now owns 95,673 shares of the semiconductor company’s stock worth $2,669,000 after acquiring an additional 82,198 shares during the last quarter. Comerica Bank acquired a new position in shares of MaxLinear in the second quarter worth $1,479,000. BNP Paribas Arbitrage SA raised its holdings in shares of MaxLinear by 2,067.0% in the second quarter. BNP Paribas Arbitrage SA now owns 17,444 shares of the semiconductor company’s stock worth $487,000 after acquiring an additional 16,639 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in shares of MaxLinear by 86.0% in the second quarter. State Board of Administration of Florida Retirement System now owns 37,111 shares of the semiconductor company’s stock worth $1,035,000 after acquiring an additional 17,164 shares during the last quarter. 88.64% of the stock is owned by institutional investors.

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About MaxLinear

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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