Roth Capital Reiterates “Buy” Rating for MaxLinear (MXL)

MaxLinear (NYSE:MXL)‘s stock had its “buy” rating reissued by investment analysts at Roth Capital in a note issued to investors on Friday. They currently have a $33.00 target price on the semiconductor company’s stock. Roth Capital’s price target suggests a potential upside of 24.91% from the company’s current price.

Several other equities research analysts have also commented on the company. Zacks Investment Research raised MaxLinear from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Needham & Company LLC reissued a “buy” rating and set a $32.00 price target on shares of MaxLinear in a research note on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $31.60.

MaxLinear (MXL) opened at $26.42 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.58 and a current ratio of 2.23. MaxLinear has a 52-week low of $20.38 and a 52-week high of $32.47. The stock has a market capitalization of $1,760.00, a P/E ratio of 101.62 and a beta of 0.47.

MaxLinear (NYSE:MXL) last released its earnings results on Tuesday, November 7th. The semiconductor company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.06. MaxLinear had a return on equity of 20.96% and a net margin of 4.73%. The company had revenue of $113.58 million for the quarter, compared to analysts’ expectations of $115.77 million. During the same quarter in the previous year, the firm posted $0.43 EPS. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. sell-side analysts forecast that MaxLinear will post 1.09 earnings per share for the current fiscal year.

In other news, insider Daniel Omeniuk sold 760,000 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $0.15, for a total transaction of $114,000.00. 11.92% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in MaxLinear by 45.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,339,398 shares of the semiconductor company’s stock valued at $37,355,000 after buying an additional 419,925 shares in the last quarter. BlackRock Inc. lifted its stake in MaxLinear by 94.6% in the 2nd quarter. BlackRock Inc. now owns 6,503,231 shares of the semiconductor company’s stock valued at $181,375,000 after buying an additional 3,160,655 shares in the last quarter. Rhumbline Advisers lifted its stake in MaxLinear by 68.8% in the 2nd quarter. Rhumbline Advisers now owns 109,300 shares of the semiconductor company’s stock valued at $3,048,000 after buying an additional 44,541 shares in the last quarter. UBS Asset Management Americas Inc. lifted its stake in MaxLinear by 30.1% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 37,159 shares of the semiconductor company’s stock valued at $1,036,000 after buying an additional 8,601 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in MaxLinear by 7.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 242,533 shares of the semiconductor company’s stock valued at $6,765,000 after buying an additional 15,960 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

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About MaxLinear

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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