Brokerages expect MaxLinear, Inc (NYSE:MXL) to announce $107.74 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for MaxLinear’s earnings. The highest sales estimate is $108.04 million and the lowest is $106.90 million. MaxLinear posted sales of $101.69 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.9%. The business is expected to announce its next quarterly earnings results on Monday, August 14th.
According to Zacks, analysts expect that MaxLinear will report full year sales of $107.74 million for the current fiscal year, with estimates ranging from $451.50 million to $463.67 million. For the next fiscal year, analysts forecast that the business will report sales of $572.64 million per share, with estimates ranging from $561.30 million to $587.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover MaxLinear.
MaxLinear (NYSE:MXL) last announced its quarterly earnings data on Tuesday, May 9th. The semiconductor company reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.04. MaxLinear had a return on equity of 26.77% and a net margin of 13.12%. The business had revenue of $88.84 million for the quarter, compared to the consensus estimate of $88.02 million. During the same period in the previous year, the business earned $0.47 earnings per share. The business’s revenue was down 13.5% on a year-over-year basis.
MXL has been the topic of a number of analyst reports. Needham & Company LLC restated a “buy” rating and set a $29.00 target price on shares of MaxLinear in a research report on Thursday, March 30th. Stifel Nicolaus raised their target price on MaxLinear from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, April 6th. Finally, Zacks Investment Research upgraded MaxLinear from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research report on Wednesday, April 12th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $31.00.
In other MaxLinear news, Director Albert J. Moyer sold 21,149 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $31.86, for a total value of $673,807.14. Following the transaction, the director now directly owns 75,857 shares of the company’s stock, valued at approximately $2,416,804.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael J. Lachance sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $31.12, for a total transaction of $1,244,800.00. Following the completion of the transaction, the vice president now directly owns 84,734 shares in the company, valued at $2,636,922.08. The disclosure for this sale can be found here. Insiders sold a total of 276,004 shares of company stock worth $8,638,836 over the last three months. Corporate insiders own 11.92% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new position in MaxLinear during the fourth quarter worth $354,000. Emerald Advisers Inc. PA acquired a new position in MaxLinear during the first quarter worth $12,161,000. William Blair Investment Management LLC raised its position in MaxLinear by 22.8% in the fourth quarter. William Blair Investment Management LLC now owns 441,366 shares of the semiconductor company’s stock worth $9,622,000 after buying an additional 82,067 shares during the period. Envestnet Asset Management Inc. raised its position in MaxLinear by 28.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,780 shares of the semiconductor company’s stock worth $125,000 after buying an additional 1,267 shares during the period. Finally, James Investment Research Inc. acquired a new position in MaxLinear during the first quarter worth $2,012,000. 84.44% of the stock is currently owned by institutional investors and hedge funds.
Shares of MaxLinear (MXL) traded down 1.00% during trading on Friday, hitting $28.67. The stock had a trading volume of 782,664 shares. The firm has a market cap of $1.88 billion, a P/E ratio of 39.65 and a beta of 0.65. MaxLinear has a 12-month low of $16.84 and a 12-month high of $32.47. The firm has a 50 day moving average price of $30.03 and a 200 day moving average price of $26.43.
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MaxLinear, Inc is a provider of radio frequency (RF) and mixed-signal integrated circuits for cable and satellite broadband communications and the connected home, and wired and wireless infrastructure markets. The Company’s RF receiver products capture and process digital and analog broadband signals to be decoded for various applications.
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