Zacks Investment Research Downgrades MaxLinear (MXL) to Strong Sell

Zacks Investment Research downgraded shares of MaxLinear (NYSE:MXL) from a hold rating to a strong sell rating in a research report released on Tuesday.

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. “

Several other equities research analysts also recently commented on MXL. Needham & Company LLC lowered their target price on shares of MaxLinear from $32.00 to $30.00 and set a buy rating for the company in a research note on Wednesday, February 14th. Roth Capital reaffirmed a buy rating and issued a $33.00 target price on shares of MaxLinear in a research note on Friday, December 29th. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $31.20.

MaxLinear (NYSE MXL) opened at $23.12 on Tuesday. MaxLinear has a twelve month low of $20.38 and a twelve month high of $32.47. The firm has a market cap of $1,532.67, a P/E ratio of -154.12 and a beta of 0.41. The company has a quick ratio of 1.94, a current ratio of 2.64 and a debt-to-equity ratio of 0.90.

MaxLinear (NYSE:MXL) last announced its quarterly earnings data on Tuesday, February 13th. The semiconductor company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.01. MaxLinear had a negative net margin of 2.19% and a positive return on equity of 20.70%. The business had revenue of $113.72 million for the quarter, compared to analyst estimates of $114.01 million. equities analysts predict that MaxLinear will post 1.24 EPS for the current fiscal year.

In other MaxLinear news, VP Brendan Walsh sold 25,018 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $28.00, for a total value of $700,504.00. Following the completion of the sale, the vice president now owns 155,441 shares of the company’s stock, valued at $4,352,348. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.92% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. William Blair Investment Management LLC increased its position in shares of MaxLinear by 3.8% during the fourth quarter. William Blair Investment Management LLC now owns 4,802,122 shares of the semiconductor company’s stock worth $126,872,000 after acquiring an additional 175,864 shares in the last quarter. MetLife Investment Advisors LLC bought a new stake in shares of MaxLinear during the fourth quarter worth $705,000. Macquarie Group Ltd. increased its position in shares of MaxLinear by 4.8% during the fourth quarter. Macquarie Group Ltd. now owns 3,380,029 shares of the semiconductor company’s stock worth $89,300,000 after acquiring an additional 154,980 shares in the last quarter. Meadow Creek Investment Management LLC bought a new stake in shares of MaxLinear during the fourth quarter worth $216,000. Finally, TIAA CREF Investment Management LLC increased its position in shares of MaxLinear by 12.0% during the fourth quarter. TIAA CREF Investment Management LLC now owns 179,028 shares of the semiconductor company’s stock worth $4,730,000 after acquiring an additional 19,168 shares in the last quarter. 87.45% of the stock is owned by hedge funds and other institutional investors.

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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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