MaxLinear, Inc. (NYSE:MXL) – William Blair dropped their Q2 2019 earnings per share estimates for shares of MaxLinear in a note issued to investors on Tuesday, June 4th, Zacks Investment Research reports. William Blair analyst now forecasts that the semiconductor company will earn $0.11 per share for the quarter, down from their previous estimate of $0.14. William Blair also issued estimates for MaxLinear’s Q3 2019 earnings at $0.13 EPS, Q4 2019 earnings at $0.21 EPS, FY2019 earnings at $0.54 EPS, Q1 2020 earnings at $0.15 EPS, Q2 2020 earnings at $0.19 EPS and FY2020 earnings at $0.82 EPS.
MaxLinear (NYSE:MXL) last issued its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $0.09 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.09. The business had revenue of $84.64 million for 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 company’s revenue was down 23.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.37 EPS.
Several other research analysts have also recently weighed in on the stock. ValuEngine upgraded shares of MaxLinear from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Zacks Investment Research cut shares of MaxLinear from a “hold” rating to a “sell” rating in a research note on Thursday. Roth Capital lowered their target price on shares of MaxLinear from $28.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 4th. Wells Fargo & Co assumed coverage on shares of MaxLinear in a research note on Tuesday, May 14th. They set a “market perform” rating on the stock. Finally, Needham & Company LLC cut shares of MaxLinear from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, six have given a hold rating and one has given a strong buy rating to the company’s stock. MaxLinear has a consensus rating of “Hold” and a consensus price target of $20.80.
Shares of MaxLinear stock traded up $0.09 on Thursday, hitting $23.44. 958,342 shares of the company’s stock were exchanged, compared to its average volume of 487,508. The firm has a 50-day moving average of $22.48. The company has a market capitalization of $1.60 billion, a PE ratio of 30.05, a PEG ratio of 3.20 and a beta of 1.29. MaxLinear has a 1 year low of $14.87 and a 1 year high of $28.70. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.44 and a quick ratio of 1.86.
Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC lifted its stake in MaxLinear by 6.6% in the 4th quarter. Geode Capital Management LLC now owns 660,461 shares of the semiconductor company’s stock worth $11,624,000 after purchasing an additional 41,128 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new stake in MaxLinear in the 4th quarter worth $318,000. Principal Financial Group Inc. lifted its stake in MaxLinear by 1.1% in the 4th quarter. Principal Financial Group Inc. now owns 509,509 shares of the semiconductor company’s stock worth $8,967,000 after purchasing an additional 5,395 shares in the last quarter. Channing Capital Management LLC lifted its stake in MaxLinear by 128.9% in the 4th quarter. Channing Capital Management LLC now owns 1,256,079 shares of the semiconductor company’s stock worth $22,107,000 after purchasing an additional 707,366 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in MaxLinear by 41.7% in the 4th quarter. Deutsche Bank AG now owns 369,890 shares of the semiconductor company’s stock worth $6,509,000 after purchasing an additional 108,920 shares in the last quarter. Institutional investors and hedge funds own 91.66% of the company’s stock.
In other MaxLinear news, VP Michael J. Lachance sold 3,495 shares of the business’s stock in a transaction on 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 owns 56,475 shares in the company, valued at approximately $1,236,802.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 9.97% of the stock is currently owned by insiders.
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.