MaxLinear, Inc. (MXL) Expected to Announce Quarterly Sales of $84.50 Million

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Wall Street analysts expect that MaxLinear, Inc. (NYSE:MXL) will announce sales of $84.50 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for MaxLinear’s earnings, with estimates ranging from $84.49 million to $84.50 million. MaxLinear posted sales of $110.83 million in the same quarter last year, which suggests a negative year over year growth rate of 23.8%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, May 14th.

According to Zacks, analysts expect that MaxLinear will report full year sales of $373.83 million for the current financial year, with estimates ranging from $367.90 million to $392.50 million. For the next fiscal year, analysts expect that the firm will post sales of $410.46 million, with estimates ranging from $400.62 million to $431.78 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for MaxLinear.

MaxLinear (NYSE:MXL) last issued its quarterly earnings results on Tuesday, February 5th. The semiconductor company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.11. MaxLinear had a negative net margin of 6.80% and a positive return on equity of 11.90%. The business had revenue of $87.63 million for the quarter, compared to the consensus estimate of $87.00 million. During the same quarter in the previous year, the firm earned $0.38 earnings per share. The company’s revenue for the quarter was down 22.9% on a year-over-year basis.

Several research firms have recently commented on MXL. Zacks Investment Research downgraded shares of MaxLinear from a “hold” rating to a “sell” rating in a report on Saturday, February 9th. Needham & Company LLC reissued a “buy” rating on shares of MaxLinear in a report on Wednesday, February 6th. ValuEngine downgraded shares of MaxLinear from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. JPMorgan Chase & Co. started coverage on shares of MaxLinear in a report on Friday, January 4th. They issued a “neutral” rating and a $18.00 target price on the stock. Finally, UBS Group cut shares of MaxLinear from a “positive” rating to a “neutral” rating in a research report on Thursday, October 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $21.83.

Shares of MXL stock traded up $0.22 during mid-day trading on Tuesday, hitting $22.91. The company had a trading volume of 362,141 shares, compared to its average volume of 601,733. MaxLinear has a 52-week low of $14.87 and a 52-week high of $26.03. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.97 and a current ratio of 2.56. The company has a market capitalization of $1.58 billion, a PE ratio of 29.37, a price-to-earnings-growth ratio of 1.46 and a beta of 1.00.

In other MaxLinear news, VP William Torgerson sold 12,500 shares of the stock in a transaction dated Thursday, December 6th. The shares were sold at an average price of $19.61, for a total transaction of $245,125.00. Following the completion of the sale, the vice president now directly owns 104,761 shares of the company’s stock, valued at $2,054,363.21. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Michael J. Lachance sold 50,000 shares of the stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $20.75, for a total transaction of $1,037,500.00. Following the sale, the vice president now directly owns 131,232 shares of the company’s stock, valued at $2,723,064. The disclosure for this sale can be found here. Insiders have sold 115,743 shares of company stock worth $2,483,144 in the last quarter. Company insiders own 11.47% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Westside Investment Management Inc. purchased a new stake in shares of MaxLinear during the third quarter valued at about $324,000. Vanguard Group Inc raised its position in shares of MaxLinear by 7.7% in the 3rd quarter. Vanguard Group Inc now owns 6,208,370 shares of the semiconductor company’s stock valued at $123,423,000 after purchasing an additional 443,729 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of MaxLinear by 3,113.1% in the 3rd quarter. Alliancebernstein L.P. now owns 3,147,190 shares of the semiconductor company’s stock valued at $62,566,000 after purchasing an additional 3,049,241 shares during the last quarter. Bank of America Corp DE raised its position in shares of MaxLinear by 5.0% in the 2nd quarter. Bank of America Corp DE now owns 414,883 shares of the semiconductor company’s stock valued at $6,468,000 after purchasing an additional 19,705 shares during the last quarter. Finally, Capital Research Global Investors purchased a new position in shares of MaxLinear in the 3rd quarter valued at approximately $37,772,000. 94.87% of the stock is owned by institutional investors and hedge funds.

MaxLinear Company Profile

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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