Wells Fargo & Co Initiates Coverage on MaxLinear (MXL)

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Analysts at Wells Fargo & Co initiated coverage on shares of MaxLinear (NYSE:MXL) in a research note issued on Tuesday, Marketbeat Ratings reports. The brokerage set a “market perform” rating on the semiconductor company’s stock.

MXL has been the subject of a number of other research reports. ValuEngine upgraded shares of MaxLinear from a “hold” rating to a “buy” rating in a report on Thursday, February 28th. Zacks Investment Research cut shares of MaxLinear from a “hold” rating to a “sell” rating in a report on Saturday, February 9th. Finally, Needham & Company LLC restated a “buy” rating on shares of MaxLinear in a report on Wednesday, February 6th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $20.20.

Shares of NYSE MXL opened at $24.70 on Tuesday. The company has a market cap of $1.72 billion, a P/E ratio of 31.67, a PEG ratio of 1.78 and a beta of 1.16. The company has a quick ratio of 1.86, a current ratio of 2.44 and a debt-to-equity ratio of 0.59. MaxLinear has a 52-week low of $14.87 and a 52-week high of $28.70.

MaxLinear (NYSE:MXL) last issued its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.09. The firm had revenue of $84.64 million during the quarter, compared to analysts’ expectations of $84.44 million. MaxLinear had a negative net margin of 9.17% and a positive return on equity of 8.68%. The business’s revenue for the quarter was down 23.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.37 earnings per share. As a group, equities research analysts predict that MaxLinear will post 0.67 earnings per share for the current year.

In other MaxLinear news, Director Albert J. Moyer sold 34,575 shares of MaxLinear stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $22.79, for a total value of $787,964.25. Following the transaction, the director now owns 89,283 shares of the company’s stock, valued at $2,034,759.57. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 9.97% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund lifted its stake in MaxLinear by 1.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 24,306 shares of the semiconductor company’s stock valued at $621,000 after buying an additional 439 shares in the last quarter. Legal & General Group Plc lifted its position in shares of MaxLinear by 0.3% in the fourth quarter. Legal & General Group Plc now owns 145,927 shares of the semiconductor company’s stock worth $2,570,000 after purchasing an additional 455 shares in the last quarter. Piedmont Investment Advisors Inc. lifted its position in shares of MaxLinear by 3.8% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 14,943 shares of the semiconductor company’s stock worth $263,000 after purchasing an additional 552 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of MaxLinear by 2.8% in the fourth quarter. State of Alaska Department of Revenue now owns 20,971 shares of the semiconductor company’s stock worth $369,000 after purchasing an additional 575 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of MaxLinear by 24.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,995 shares of the semiconductor company’s stock worth $53,000 after purchasing an additional 584 shares in the last quarter. 98.67% of the stock is currently owned by hedge funds and other 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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Analyst Recommendations for MaxLinear (NYSE:MXL)

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