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. “
Several other research firms have also recently issued reports on MXL. Roth Capital cut their price target on shares of MaxLinear from $28.00 to $23.00 and set a neutral rating on the stock in a report on Tuesday, June 4th. Wells Fargo & Co initiated coverage on shares of MaxLinear in a report on Tuesday, May 14th. They issued a market perform rating on the stock. Needham & Company LLC cut shares of MaxLinear from a buy rating to a hold rating in a report on Thursday, May 2nd. They noted that the move was a valuation call. Deutsche Bank set a $25.00 price target on shares of MaxLinear and gave the company a hold rating in a report on Friday, July 26th. Finally, ValuEngine cut shares of MaxLinear from a strong-buy rating to a buy rating in a report on Thursday, August 1st. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $20.80.
MaxLinear (NYSE:MXL) last posted its quarterly earnings results on Thursday, July 25th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. The firm had revenue of $82.50 million for the quarter, compared to analysts’ expectations of $82.58 million. MaxLinear had a negative net margin of 6.09% and a positive return on equity of 7.16%. The firm’s quarterly revenue was down 18.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 earnings per share. On average, equities research analysts forecast that MaxLinear will post 0.45 earnings per share for the current fiscal year.
In related news, VP Michael J. Lachance sold 36,470 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $21.65, for a total value of $789,575.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 sale, the vice president now owns 56,475 shares of the company’s stock, valued at approximately $1,236,802.50. The disclosure for this sale can be found here. Insiders sold 95,297 shares of company stock worth $2,054,920 over the last ninety days. 9.97% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC increased its stake in MaxLinear by 6,133.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,870 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 1,840 shares during the last quarter. Truvestments Capital LLC increased its stake in MaxLinear by 56.3% during the second quarter. Truvestments Capital LLC now owns 3,622 shares of the semiconductor company’s stock valued at $85,000 after purchasing an additional 1,305 shares during the last quarter. Royal Bank of Canada increased its stake in MaxLinear by 1,273.1% during the second quarter. Royal Bank of Canada now owns 3,625 shares of the semiconductor company’s stock valued at $84,000 after purchasing an additional 3,361 shares during the last quarter. Bank of Montreal Can increased its stake in MaxLinear by 42.6% during the first quarter. Bank of Montreal Can now owns 5,315 shares of the semiconductor company’s stock valued at $136,000 after purchasing an additional 1,587 shares during the last quarter. Finally, Everence Capital Management Inc. bought a new stake in MaxLinear during the first quarter valued at $220,000. Hedge funds and other institutional investors own 90.86% of the company’s stock.
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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