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

Shares of MaxLinear, Inc (NASDAQ:MXL) have received a consensus rating of “Hold” from the eight brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $19.5714.

A number of research analysts recently weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of MaxLinear in a research note on Thursday, January 22nd. Wells Fargo & Company raised their price target on MaxLinear from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Friday, January 30th. Williams Trading set a $25.00 price target on MaxLinear in a research report on Friday, October 24th. Stifel Nicolaus set a $23.00 price objective on MaxLinear in a research note on Friday, October 24th. Finally, Benchmark raised their target price on MaxLinear from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, January 16th.

MaxLinear Trading Up 9.4%

Shares of MaxLinear stock opened at $18.72 on Friday. The stock has a market capitalization of $1.64 billion, a P/E ratio of -11.85 and a beta of 1.74. MaxLinear has a 52-week low of $8.35 and a 52-week high of $20.82. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.92 and a current ratio of 1.34. The stock’s 50-day simple moving average is $18.20 and its 200 day simple moving average is $16.58.

MaxLinear (NASDAQ:MXL) last posted its earnings results on Thursday, January 29th. The semiconductor company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.01. MaxLinear had a negative net margin of 29.23% and a negative return on equity of 6.95%. The firm had revenue of $136.44 million during the quarter, compared to the consensus estimate of $134.82 million. During the same quarter last year, the company earned ($0.09) earnings per share. The company’s revenue was up 48.0% on a year-over-year basis. As a group, research analysts anticipate that MaxLinear will post -0.37 EPS for the current year.

MaxLinear announced that its Board of Directors has initiated a share repurchase program on Monday, November 24th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to purchase up to 5.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On MaxLinear

Hedge funds have recently bought and sold shares of the company. Larson Financial Group LLC lifted its stake in MaxLinear by 161.7% in the 4th quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 875 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of MaxLinear in the fourth quarter worth $27,000. EverSource Wealth Advisors LLC raised its position in shares of MaxLinear by 97.0% in the third quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the semiconductor company’s stock worth $34,000 after buying an additional 1,039 shares in the last quarter. Quarry LP boosted 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 valued at $35,000 after buying an additional 2,030 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in MaxLinear by 104.4% during the second quarter. PNC Financial Services Group Inc. now owns 3,579 shares of the semiconductor company’s stock worth $51,000 after buying an additional 1,828 shares in the last quarter. Hedge funds and other institutional investors own 90.79% of the company’s stock.

About MaxLinear

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.