MaxLinear, Inc (NASDAQ:MXL) Receives Consensus Recommendation of “Hold” from Analysts

Shares of MaxLinear, Inc (NASDAQ:MXL) have received a consensus recommendation of “Hold” from the nine brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $18.8571.

A number of equities research analysts have recently weighed in on the company. Zacks Research downgraded MaxLinear from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 22nd. Williams Trading set a $25.00 target price on shares of MaxLinear in a research note on Friday, October 24th. Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a research note on Wednesday, October 8th. Stifel Nicolaus set a $23.00 price target on shares of MaxLinear in a report on Friday, October 24th. Finally, Benchmark restated a “buy” rating and set a $25.00 target price on shares of MaxLinear in a report on Friday, October 24th.

Insider Buying and Selling at MaxLinear

In related news, Director Daniel A. Artusi sold 20,747 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $15.39, for a total value of $319,296.33. Following the transaction, the director directly owned 12,141 shares of the company’s stock, valued at approximately $186,849.99. This trade represents a 63.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On MaxLinear

Several hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC raised its stake in shares of MaxLinear by 97.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 1,039 shares in the last quarter. Quarry LP raised its stake in MaxLinear by 1,293.0% during the third quarter. Quarry LP now owns 2,187 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 2,030 shares in the last quarter. Farther Finance Advisors LLC bought a new position in shares of MaxLinear during the second quarter valued at $44,000. PNC Financial Services Group Inc. boosted its stake in shares of MaxLinear by 104.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,579 shares of the semiconductor company’s stock valued at $51,000 after purchasing an additional 1,828 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of MaxLinear by 917.6% in the 3rd quarter. Bessemer Group Inc. now owns 3,175 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 2,863 shares during the last quarter. 90.79% of the stock is owned by institutional investors.

MaxLinear Stock Performance

MaxLinear stock opened at $18.42 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.55 and a quick ratio of 1.08. The company has a market cap of $1.61 billion, a P/E ratio of -8.81 and a beta of 1.77. MaxLinear has a fifty-two week low of $8.35 and a fifty-two week high of $25.73. The firm’s 50 day simple moving average is $16.66 and its 200-day simple moving average is $16.11.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings data on Thursday, October 23rd. The semiconductor company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The firm had revenue of $126.46 million during the quarter, compared to analyst estimates of $124.66 million. MaxLinear had a negative net margin of 42.43% and a negative return on equity of 12.74%. The company’s revenue was up 56.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.36) EPS. As a group, equities research analysts predict that MaxLinear will post -0.37 EPS for the current year.

MaxLinear announced that its board has initiated a stock repurchase program on Monday, November 24th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the semiconductor company to buy up to 5.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

MaxLinear Company Profile

MaxLinear, Inc is a provider of radio-frequency (RF), analog, and mixed-signal integrated circuits for broadband communications, data center connectivity, and video infrastructure applications. The company’s product portfolio includes high-performance RF front-end modules, broadband power amplifiers, optical and Ethernet transceivers, and network processors designed to support demanding signal processing requirements.

MaxLinear’s semiconductor solutions are used by cable and satellite television operators, fiber-to-the-home service providers, network equipment manufacturers, and data center operators.