MaxLinear (MXL) Expected to Announce Earnings of $0.33 Per Share

Brokerages predict that MaxLinear (NYSE:MXL) will announce earnings per share of $0.33 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for MaxLinear’s earnings, with the lowest EPS estimate coming in at $0.32 and the highest estimate coming in at $0.33. MaxLinear posted earnings of $0.35 per share in the same quarter last year, which indicates a negative year over year growth rate of 5.7%. The firm is expected to issue its next earnings report on Tuesday, August 14th.

On average, analysts expect that MaxLinear will report full-year earnings of $1.42 per share for the current year, with EPS estimates ranging from $1.40 to $1.45. For the next year, analysts forecast that the company will post earnings of $1.69 per share, with EPS estimates ranging from $1.57 to $1.84. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow MaxLinear.

MaxLinear (NYSE:MXL) last issued its quarterly earnings data on Tuesday, May 8th. The semiconductor company reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.01. The company had revenue of $110.83 million during the quarter, compared to analysts’ expectations of $111.91 million. MaxLinear had a positive return on equity of 19.99% and a negative net margin of 3.57%. The business’s revenue was up 24.8% on a year-over-year basis. During the same period last year, the business earned $0.33 earnings per share.

A number of brokerages have issued reports on MXL. Zacks Investment Research cut MaxLinear from a “hold” rating to a “sell” rating in a report on Tuesday, May 15th. ValuEngine cut MaxLinear from a “hold” rating to a “sell” rating in a report on Wednesday, May 9th. Stifel Nicolaus cut their price objective on MaxLinear from $33.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, May 9th. Deutsche Bank cut MaxLinear from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a report on Wednesday, May 9th. Finally, Needham & Company LLC cut their price target on MaxLinear from $32.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, February 14th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $30.80.

Shares of NYSE MXL traded down $0.04 during midday trading on Friday, reaching $19.06. 877,549 shares of the company traded hands, compared to its average volume of 871,770. The stock has a market cap of $1.30 billion, a PE ratio of 16.15, a PEG ratio of 0.95 and a beta of 0.55. MaxLinear has a 12 month low of $17.54 and a 12 month high of $32.47. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.32 and a current ratio of 3.00.

In related news, insider Connie H. Kwong sold 1,500 shares of MaxLinear stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $19.30, for a total value of $28,950.00. Following the completion of the transaction, the insider now directly owns 5,609 shares of the company’s stock, valued at $108,253.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael J. Lachance sold 25,000 shares of MaxLinear stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $23.63, for a total value of $590,750.00. Following the completion of the transaction, the vice president now directly owns 71,757 shares of the company’s stock, valued at $1,695,617.91. The disclosure for this sale can be found here. Insiders sold 73,821 shares of company stock valued at $1,707,851 over the last ninety days. 11.47% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Oak Ridge Investments LLC increased its position in MaxLinear by 5,900.1% in the first quarter. Oak Ridge Investments LLC now owns 717,730 shares of the semiconductor company’s stock worth $16,328,000 after purchasing an additional 705,768 shares during the period. UBS Asset Management Americas Inc. increased its position in MaxLinear by 1,203.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 538,133 shares of the semiconductor company’s stock worth $14,217,000 after purchasing an additional 496,860 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in MaxLinear by 18.2% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,974,675 shares of the semiconductor company’s stock worth $52,171,000 after purchasing an additional 303,350 shares during the period. BlackRock Inc. increased its position in MaxLinear by 3.3% in the fourth quarter. BlackRock Inc. now owns 7,561,303 shares of the semiconductor company’s stock worth $199,772,000 after purchasing an additional 239,077 shares during the period. Finally, Divisar Capital Management LLC acquired a new stake in MaxLinear in the fourth quarter worth about $6,079,000. 90.80% of the stock is owned by institutional investors and hedge funds.

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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