MaxLinear (NYSE:MXL) Lowered 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 sent to investors on Wednesday morning, 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 analysts have also issued research reports about the stock. ValuEngine upgraded shares of Zogenix from a buy rating to a strong-buy rating in a research note on Thursday, June 27th. Roth Capital reduced their target price on shares of MaxLinear from $28.00 to $23.00 and set a neutral rating for the company in a research note on Tuesday, June 4th. Wells Fargo & Co began coverage on shares of Semtech in a research note on Tuesday, May 14th. They issued an outperform rating and a $48.03 target price for the company. Finally, Needham & Company LLC upped their target price on shares of Alteryx to $108.00 and gave the stock a buy rating in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $20.80.

NYSE MXL opened at $24.79 on Wednesday. MaxLinear has a 1 year low of $14.87 and a 1 year high of $28.70. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.86 and a current ratio of 2.44. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 49.58, a price-to-earnings-growth ratio of 3.49 and a beta of 1.29. The business has a fifty day moving average price of $22.60.

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

In related news, VP Michael J. Lachance sold 3,495 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $21.90, for a total value of $76,540.50. Following the transaction, the vice president now directly 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 Securities & Exchange Commission, which is available through this link. Also, VP Michael J. Lachance sold 36,470 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $21.65, for a total transaction of $789,575.50. The disclosure for this sale can be found here. 9.97% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Cortina Asset Management LLC grew its position in MaxLinear by 25.1% during the second quarter. Cortina Asset Management LLC now owns 219,674 shares of the semiconductor company’s stock valued at $5,149,000 after acquiring an additional 44,088 shares during the last quarter. Primecap Management Co. CA grew its position in MaxLinear by 2.1% during the first quarter. Primecap Management Co. CA now owns 4,901,334 shares of the semiconductor company’s stock valued at $125,131,000 after acquiring an additional 99,190 shares during the last quarter. Qtron Investments LLC bought a new position in MaxLinear during the first quarter valued at approximately $488,000. State of Wisconsin Investment Board grew its position in MaxLinear by 3.0% during the first quarter. State of Wisconsin Investment Board now owns 473,900 shares of the semiconductor company’s stock valued at $12,099,000 after acquiring an additional 13,900 shares during the last quarter. Finally, William Blair Investment Management LLC grew its position in MaxLinear by 1.3% during the first quarter. William Blair Investment Management LLC now owns 3,111,276 shares of the semiconductor company’s stock valued at $79,431,000 after acquiring an additional 40,270 shares during the last quarter. 91.66% of the stock is currently owned by institutional investors.

MaxLinear Company Profile

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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