MaxLinear (MXL) Rating Reiterated by Needham & Company LLC

MaxLinear (NYSE:MXL)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a research note issued to investors on Wednesday, October 31st. They presently have a $20.00 price target on the semiconductor company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 6.10% from the stock’s current price.

The analysts wrote, “MXL reported in-line 3Q18 results, but provided 4Q18 guidance slightly below expectations as near-term uncertainties limit the pace of revenue recovery. With the order volatility from the DOCSIS 3.1 transition in the cable data market nearing an end, MXL expects to see its cable data business return to Q/ Q growth in 4Q18. MXL’s Infrastructure segment remains on track to deliver double- digit growth in 2018 with expected ~14% Q/Q revenue growth in 4Q18. We believe MXL is poised for a resumption in revenue growth after reaching a trough in 3Q18, but have reduced the pace of recovery in our estimates to reflect uncertainty around tariff impacts in the cable data market as well as a lower outlook for the Industrial segment. We maintain our Buy rating with a $20 PT , based on an EV of ~3.6x expected 2020 sales.””

Other equities analysts have also issued research reports about the company. Zacks Investment Research raised MaxLinear from a “sell” rating to a “hold” rating in a research note on Thursday, September 6th. Stifel Nicolaus decreased their price target on MaxLinear from $31.00 to $25.00 and set a “$17.41” rating on the stock in a research note on Thursday, July 19th. ValuEngine raised MaxLinear from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 9th. UBS Group lowered MaxLinear from a “positive” rating to a “neutral” rating in a research note on Thursday, October 25th. Finally, Susquehanna Bancshares lowered MaxLinear from a “positive” rating to a “neutral” rating and decreased their price target for the company from $21.00 to $18.00 in a research note on Thursday, October 25th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $22.60.

NYSE:MXL traded up $0.34 during trading hours on Wednesday, hitting $18.85. The company had a trading volume of 441,012 shares, compared to its average volume of 833,374. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.69. The stock has a market cap of $1.28 billion, a P/E ratio of 15.97, a PEG ratio of 1.38 and a beta of 0.87. MaxLinear has a 1 year low of $14.87 and a 1 year high of $28.06.

MaxLinear (NYSE:MXL) last issued its earnings results on Tuesday, October 30th. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The company had revenue of $85.00 million during the quarter, compared to analysts’ expectations of $85.01 million. MaxLinear had a positive return on equity of 15.35% and a negative net margin of 11.18%. The firm’s quarterly revenue was down 25.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.39 EPS. On average, equities analysts anticipate that MaxLinear will post 0.67 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in MXL. Royce & Associates LP lifted its stake in MaxLinear by 29.5% during the 2nd quarter. Royce & Associates LP now owns 889,742 shares of the semiconductor company’s stock worth $13,871,000 after acquiring an additional 202,500 shares in the last quarter. Bank of America Corp DE lifted its stake in MaxLinear by 5.0% during the 2nd quarter. Bank of America Corp DE now owns 414,883 shares of the semiconductor company’s stock worth $6,468,000 after acquiring an additional 19,705 shares in the last quarter. Divisar Capital Management LLC lifted its stake in MaxLinear by 17.2% during the 2nd quarter. Divisar Capital Management LLC now owns 545,100 shares of the semiconductor company’s stock worth $8,498,000 after acquiring an additional 80,000 shares in the last quarter. Avalon Global Asset Management LLC lifted its stake in MaxLinear by 8.7% during the 2nd quarter. Avalon Global Asset Management LLC now owns 186,500 shares of the semiconductor company’s stock worth $2,908,000 after acquiring an additional 15,000 shares in the last quarter. Finally, Jennison Associates LLC lifted its stake in MaxLinear by 27.7% during the 2nd quarter. Jennison Associates LLC now owns 1,414,066 shares of the semiconductor company’s stock worth $22,045,000 after acquiring an additional 306,538 shares in the last quarter.

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 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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