MaxLinear (NYSE:MXL) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday, Zacks.com reports. The firm currently has a $38.00 target price on the semiconductor company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 15.64% from the company’s previous close.
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 brokerages have also commented on MXL. Craig Hallum upped their target price on MaxLinear from $43.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, January 6th. They noted that the move was a valuation call. Roth Capital upped their target price on MaxLinear from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, December 30th. Loop Capital upgraded MaxLinear from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Monday. Deutsche Bank Aktiengesellschaft increased their price target on MaxLinear from $30.00 to $34.00 and gave the stock a “hold” rating in a report on Friday, November 6th. Finally, Wells Fargo & Company lowered MaxLinear from an “overweight” rating to an “equal weight” rating and set a $40.00 price target on the stock. in a report on Monday, January 11th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $37.70.
Fortunes will be made and lost in 2021 – and you likely have just weeks to decide which side you’ll be on.
Shares of MaxLinear stock opened at $32.86 on Wednesday. MaxLinear has a one year low of $7.79 and a one year high of $38.71. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.66 and a quick ratio of 1.16. The stock’s 50-day moving average is $35.45 and its 200 day moving average is $28.75. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of -29.34, a PEG ratio of 2.09 and a beta of 1.94.
MaxLinear (NYSE:MXL) last announced its earnings results on Wednesday, February 3rd. The semiconductor company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.16 by $0.23. MaxLinear had a positive return on equity of 3.25% and a negative net margin of 23.18%. The company had revenue of $194.70 million for the quarter, compared to analyst estimates of $189.83 million. During the same quarter in the prior year, the company earned $0.16 EPS. The firm’s revenue for the quarter was up 178.1% compared to the same quarter last year. On average, sell-side analysts expect that MaxLinear will post 0.24 EPS for the current fiscal year.
In other news, insider Connie H. Kwong sold 2,000 shares of the stock in a transaction that occurred on Monday, November 23rd. The stock was sold at an average price of $30.00, for a total value of $60,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kishore Seendripu sold 4,455 shares of the stock in a transaction that occurred on Thursday, November 12th. The stock was sold at an average price of $26.76, for a total value of $119,215.80. Following the completion of the sale, the chief executive officer now directly owns 103,598 shares of the company’s stock, valued at $2,772,282.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 70,714 shares of company stock valued at $2,432,680. Company insiders own 9.97% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Harbor Investment Advisory LLC increased its position in shares of MaxLinear by 59.3% during the third quarter. Harbor Investment Advisory LLC now owns 1,437 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 535 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of MaxLinear during the third quarter valued at approximately $44,000. Exchange Traded Concepts LLC increased its position in shares of MaxLinear by 4,211.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,897 shares of the semiconductor company’s stock valued at $72,000 after acquiring an additional 1,853 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of MaxLinear during the fourth quarter valued at approximately $78,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of MaxLinear by 17.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,204 shares of the semiconductor company’s stock valued at $191,000 after acquiring an additional 1,212 shares during the last quarter. 82.07% of the stock is owned by institutional investors.
About MaxLinear
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 various 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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