MaxLinear (NYSE:MXL) Cut to “Sell” at Zacks Investment Research

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Zacks Investment Research downgraded shares of MaxLinear (NYSE:MXL) from a hold rating to a sell rating in a research report report published on Wednesday, Zacks.com reports.

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. “

Other equities research analysts also recently issued research reports about the stock. Roth Capital cut their price objective on shares of MaxLinear from $28.00 to $23.00 and set a neutral rating for the company in a research report on Tuesday, June 4th. ValuEngine raised shares of Zogenix from a buy rating to a strong-buy rating in a research report on Thursday, June 27th. Needham & Company LLC boosted their price objective on shares of Alteryx to $108.00 and gave the company a buy rating in a research report on Thursday, May 2nd. Finally, Wells Fargo & Co initiated coverage on shares of Semtech in a research report on Tuesday, May 14th. They set an outperform rating and a $48.03 price objective for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a strong buy rating to the company’s stock. MaxLinear has a consensus rating of Hold and an average price target of $20.80.

NYSE:MXL traded up $0.05 during trading hours on Wednesday, reaching $24.46. The company had a trading volume of 428,714 shares, compared to its average volume of 477,073. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.86 and a current ratio of 2.44. MaxLinear has a 52 week low of $14.87 and a 52 week high of $28.70. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 31.36, a price-to-earnings-growth ratio of 3.38 and a beta of 1.29. The company’s 50 day simple moving average is $22.53.

MaxLinear (NYSE:MXL) last posted its earnings results on Wednesday, May 1st. The semiconductor company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. MaxLinear had a negative net margin of 9.17% and a positive return on equity of 8.68%. The business had revenue of $84.64 million during the quarter, compared to the consensus estimate of $84.44 million. During the same quarter in the previous year, the firm posted $0.37 EPS. The firm’s revenue was down 23.6% on a year-over-year basis. On average, equities research analysts predict that MaxLinear will post 0.57 earnings per share for the current year.

In other news, VP Michael J. Lachance sold 3,495 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $21.90, for a total transaction of $76,540.50. Following the completion of the sale, the vice president now owns 56,475 shares of the company’s stock, valued at approximately $1,236,802.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 9.97% of the company’s stock.

A number of institutional investors have recently modified their holdings of MXL. Norges Bank bought a new position in MaxLinear in the 4th quarter worth $23,105,000. Macquarie Group Ltd. boosted its holdings in MaxLinear by 10.8% in the 4th quarter. Macquarie Group Ltd. now owns 4,816,410 shares of the semiconductor company’s stock worth $84,769,000 after buying an additional 469,445 shares during the period. Eagle Asset Management Inc. bought a new position in MaxLinear in the 1st quarter worth $6,216,000. Wasatch Advisors Inc. boosted its holdings in MaxLinear by 100.1% in the 1st quarter. Wasatch Advisors Inc. now owns 456,883 shares of the semiconductor company’s stock worth $11,664,000 after buying an additional 228,562 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in MaxLinear by 8.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,892,231 shares of the semiconductor company’s stock worth $33,304,000 after buying an additional 145,776 shares during the period. 91.66% of the stock is owned by institutional investors.

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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