MaxLinear, Inc (NASDAQ:MXL) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Analysts assign MaxLinear a consensus “Hold” rating: five analysts recommend buying, four recommend holding, and one recommends selling. The average 12-month price target is $85.
• MaxLinear exceeded quarterly expectations, reporting $0.35 in EPS versus a $0.33 consensus estimate and revenue of $168.85 million, up 55.2% year over year.
• Insiders recently sold shares, while institutional investors own a substantial 90.79% of the company; the stock opened at $66.82 and has traded between $12.77 and $128.30 over the past year.

MaxLinear, Inc (NASDAQ:MXL - Get Free Report) has been assigned a consensus rating of "Hold" from the ten analysts that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $85.00.

MXL has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $40.00 price target on shares of MaxLinear in a research report on Friday, April 24th. Stifel Nicolaus lifted their target price on MaxLinear from $110.00 to $120.00 and gave the company a "buy" rating in a research note on Friday, July 24th. Benchmark assumed coverage on shares of MaxLinear in a report on Wednesday, May 27th. They issued a "buy" rating and a $125.00 target price for the company. Wall Street Zen raised shares of MaxLinear from a "hold" rating to a "buy" rating in a research report on Sunday, July 26th. Finally, Needham & Company LLC raised their price target on shares of MaxLinear from $60.00 to $100.00 and gave the company a "buy" rating in a report on Friday, July 24th.

MaxLinear Price Performance

MXL opened at $66.82 on Friday. The company has a current ratio of 1.78, a quick ratio of 1.15 and a debt-to-equity ratio of 0.26. MaxLinear has a 12-month low of $12.77 and a 12-month high of $128.30. The business's fifty day simple moving average is $86.90 and its 200-day simple moving average is $51.43. The company has a market capitalization of $6.06 billion, a price-to-earnings ratio of -56.15 and a beta of 3.91.

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

Insider Buying and Selling

In related news, Director Thomas E. Pardun sold 11,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $105.00, for a total transaction of $1,155,000.00. Following the completion of the sale, the director owned 55,252 shares of the company's stock, valued at $5,801,460. This represents a 16.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Connie H. Kwong sold 35,000 shares of MaxLinear stock in a transaction on Friday, May 8th. The stock was sold at an average price of $96.96, for a total transaction of $3,393,600.00. Following the completion of the transaction, the insider directly owned 13,947 shares in the company, valued at $1,352,301.12. This represents a 71.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 7.70% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB increased its position in MaxLinear by 7.4% during the 2nd quarter. Handelsbanken Fonder AB now owns 39,381 shares of the semiconductor company's stock valued at $5,042,000 after buying an additional 2,700 shares in the last quarter. Carolina Wealth Advisors LLC acquired a new stake in MaxLinear in the second quarter worth about $47,000. World Equity Group Inc. purchased a new stake in shares of MaxLinear during the second quarter worth about $285,000. Arista Wealth Management LLC purchased a new stake in shares of MaxLinear during the second quarter worth about $387,000. Finally, UNICOM Systems Inc. acquired a new position in shares of MaxLinear during the second quarter valued at about $14,711,000. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.