MaxLinear (NASDAQ:MXL) Upgraded to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded MaxLinear from “hold” to “strong buy,” while the broader analyst consensus remains “moderate buy” with a $94.30 price target.
• MaxLinear reported quarterly EPS of $0.62, beating estimates of $0.56, while revenue reached $218.06 million, up 72.4% year over year and above expectations.
• The stock opened at $71.61, with a market capitalization of $6.49 billion; insiders own 7.70% of shares and institutional investors hold 90.79%.

MaxLinear (NASDAQ:MXL - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Wednesday, Zacks reports.

Several other equities analysts have also weighed in on MXL. Wells Fargo & Company dropped their price objective on shares of MaxLinear from $95.00 to $78.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 20th. Morgan Stanley set a $125.00 price target on MaxLinear in a research note on Monday, September 14th. Susquehanna set a $70.00 price objective on MaxLinear in a report on Friday, October 23rd. Roth Capital upped their target price on MaxLinear from $60.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. Finally, Needham & Company LLC upped their price objective on shares of MaxLinear from $60.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $94.30.

MaxLinear Stock Performance

Shares of MXL opened at $71.61 on Wednesday. The company has a current ratio of 2.22, a quick ratio of 1.57 and a debt-to-equity ratio of 0.31. The firm's fifty day simple moving average is $77.15 and its two-hundred day simple moving average is $59.12. MaxLinear has a 12 month low of $12.77 and a 12 month high of $128.30. The stock has a market capitalization of $6.49 billion, a P/E ratio of 119.27 and a beta of 3.93.

MaxLinear (NASDAQ:MXL - Get Free Report) last announced its quarterly earnings data on Thursday, October 22nd. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.56 by $0.06. MaxLinear had a positive return on equity of 12.89% and a negative net margin of 4.45%. The company had revenue of $218.06 million for the quarter, compared to the consensus estimate of $214.95 million. During the same period in the previous year, the business earned $0.14 EPS. The firm's revenue was up 72.4% compared to the same quarter last year. As a group, analysts predict that MaxLinear will post 1.10 EPS for the current year.

Insider Activity at MaxLinear

In related news, CEO Kishore Seendripu sold 351,454 shares of the firm's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $85.95, for a total transaction of $30,207,471.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 7.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MaxLinear

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its holdings in shares of MaxLinear by 16.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company's stock valued at $27,000 after acquiring an additional 217 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of MaxLinear by 16.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,678 shares of the semiconductor company's stock worth $215,000 after buying an additional 232 shares during the last quarter. Carolina Wealth Advisors LLC grew its position in MaxLinear by 65.0% during the third quarter. Carolina Wealth Advisors LLC now owns 612 shares of the semiconductor company's stock valued at $55,000 after buying an additional 241 shares during the period. Ameritas Advisory Services LLC purchased a new stake in MaxLinear during the second quarter worth about $32,000. Finally, Abel Hall LLC increased its stake in shares of MaxLinear by 8.4% during the 3rd quarter. Abel Hall LLC now owns 3,958 shares of the semiconductor company's stock worth $357,000 after purchasing an additional 308 shares during the last quarter. Hedge funds and other institutional investors own 90.79% of the company's stock.

MaxLinear Company Profile

MaxLinear, Inc is a fabless semiconductor company that designs, develops and sells integrated circuits and related solutions for broadband communications, wired and wireless infrastructure, data centers, industrial applications and consumer electronics. Its products are used by equipment manufacturers and service providers to support the transmission, processing and management of voice, video and data.

The company's portfolio includes broadband access system-on-chip products, Ethernet transceivers and controllers, high-speed interconnect and communications devices, radio-frequency and analog products, optical and copper connectivity solutions, and power-management components.

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