MaxLinear (NYSE:MXL) posted its quarterly earnings results on Thursday. The semiconductor company reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11, Morningstar.com reports. MaxLinear had a positive return on equity of 8.68% and a negative net margin of 9.17%. The business had revenue of $82.50 million for the quarter, compared to analyst estimates of $82.58 million. During the same quarter in the previous year, the firm earned $0.34 EPS. The company’s quarterly revenue was down 18.7% compared to the same quarter last year. MaxLinear updated its Q3 2019 guidance to EPS.
MXL traded down $2.32 on Friday, hitting $23.21. The company had a trading volume of 1,228,451 shares, compared to its average volume of 479,901. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 29.76, a P/E/G ratio of 3.67 and a beta of 1.29. MaxLinear has a 1 year low of $14.87 and a 1 year high of $28.70. The stock’s fifty day simple moving average is $23.58. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.86 and a current ratio of 2.44.
Several research firms have recently commented on MXL. Wells Fargo & Co began coverage on Semtech in a report on Tuesday, May 14th. They set an “outperform” rating and a $48.03 price target on the stock. Roth Capital reduced their price target on MaxLinear from $28.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, June 4th. Needham & Company LLC lifted their price target on Alteryx to $108.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. ValuEngine upgraded Zogenix from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 27th. Finally, Zacks Investment Research lowered Zafgen from a “buy” rating to a “hold” rating in a report on Saturday, July 20th. Seven investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $19.75.
In related news, VP Michael J. Lachance sold 3,495 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $21.90, for a total value of $76,540.50. Following the sale, the vice president now directly owns 56,475 shares in the company, valued at approximately $1,236,802.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.97% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MXL. Norges Bank acquired a new position in MaxLinear in the 4th quarter valued at about $23,105,000. Eagle Asset Management Inc. acquired a new position in shares of MaxLinear during the first quarter worth about $6,216,000. Wasatch Advisors Inc. grew its position in shares of MaxLinear by 100.1% during the first quarter. Wasatch Advisors Inc. now owns 456,883 shares of the semiconductor company’s stock worth $11,664,000 after buying an additional 228,562 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of MaxLinear by 8.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,892,231 shares of the semiconductor company’s stock worth $33,304,000 after buying an additional 145,776 shares in the last quarter. Finally, Deutsche Bank AG grew its position in shares of MaxLinear by 41.7% during the fourth quarter. Deutsche Bank AG now owns 369,890 shares of the semiconductor company’s stock worth $6,509,000 after buying an additional 108,920 shares in the last quarter. 91.73% of the stock is owned by institutional investors.
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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