MaxLinear, Inc (NASDAQ:MXL) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• MaxLinear has a consensus “Hold” rating from 10 analysts, with five buys, four holds and one sell. The average 12-month price target is $85, although several firms recently raised targets and issued buy ratings.
• The company exceeded quarterly expectations, reporting EPS of $0.35 versus a $0.33 consensus and revenue of $168.85 million versus $164.64 million. Revenue increased 55.2% year over year, despite a negative net margin of 18.24%.
• Institutional investors own 90.79% of MaxLinear, while CEO Kishore Seendripu recently sold 351,454 shares for approximately $30.2 million. The stock opened at $66.36 and has traded between $12.77 and $128.30 over the past year.

MaxLinear, Inc (NASDAQ:MXL - Get Free Report) has been assigned an average rating of "Hold" from the ten research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $85.00.

MXL has been the subject of several recent research reports. Benchmark assumed coverage on shares of MaxLinear in a research note on Wednesday, May 27th. They set a "buy" rating and a $125.00 target price for the company. Loop Capital raised shares of MaxLinear from a "hold" rating to a "buy" rating and lifted their price target for the company from $17.00 to $75.00 in a report on Wednesday, April 29th. Roth Capital boosted their price objective on shares of MaxLinear from $60.00 to $100.00 and gave the company a "buy" rating in a research report on Friday, July 24th. Wall Street Zen upgraded shares of MaxLinear from a "hold" rating to a "buy" rating in a research note on Sunday, July 26th. Finally, Stifel Nicolaus increased their price objective on shares of MaxLinear from $110.00 to $120.00 and gave the stock a "buy" rating in a research note on Friday, July 24th.

MaxLinear Trading Up 5.7%

NASDAQ:MXL opened at $66.36 on Wednesday. The company has a market cap of $6.02 billion, a PE ratio of -55.76 and a beta of 3.96. The business's 50 day moving average is $81.29 and its two-hundred day moving average is $57.96. The company has a quick ratio of 1.15, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. MaxLinear has a 52 week low of $12.77 and a 52 week high of $128.30.

MaxLinear (NASDAQ:MXL - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.02. MaxLinear had a positive return on equity of 2.24% and a negative net margin of 18.24%.The business had revenue of $168.85 million during the quarter, compared to the consensus estimate of $164.64 million. During the same period in the previous year, the business earned $0.02 EPS. The business's quarterly revenue was up 55.2% on a year-over-year basis. On average, analysts predict that MaxLinear will post 0.78 EPS for the current year.

Insider Activity at MaxLinear

In other news, CEO Kishore Seendripu sold 351,454 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $85.95, for a total transaction of $30,207,471.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 7.70% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in MaxLinear in the second quarter worth $1,754,062,000. Vanguard Group Inc. boosted its holdings in shares of MaxLinear by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 13,326,387 shares of the semiconductor company's stock valued at $232,279,000 after acquiring an additional 605,903 shares during the period. California State Teachers Retirement System grew its position in shares of MaxLinear by 12,029.5% during the second quarter. California State Teachers Retirement System now owns 12,619,533 shares of the semiconductor company's stock worth $1,615,679,000 after acquiring an additional 12,515,493 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of MaxLinear by 27.8% during the second quarter. The Manufacturers Life Insurance Company now owns 2,889,111 shares of the semiconductor company's stock worth $41,054,000 after acquiring an additional 628,719 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of MaxLinear by 419.9% in the 4th quarter. Invesco Ltd. now owns 2,149,589 shares of the semiconductor company's stock worth $37,467,000 after acquiring an additional 1,736,141 shares during the period. Institutional investors and hedge funds 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.

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