MaxLinear, Inc. (NYSE:MXL) Expected to Post Quarterly Sales of $82.50 Million

Wall Street brokerages forecast that MaxLinear, Inc. (NYSE:MXL) will report $82.50 million in sales for the current quarter, Zacks reports. Six analysts have provided estimates for MaxLinear’s earnings, with the highest sales estimate coming in at $82.53 million and the lowest estimate coming in at $82.46 million. MaxLinear reported sales of $101.53 million during the same quarter last year, which would suggest a negative year over year growth rate of 18.7%. The company is expected to announce its next quarterly earnings results on Tuesday, August 6th.

On average, analysts expect that MaxLinear will report full-year sales of $345.50 million for the current fiscal year, with estimates ranging from $342.19 million to $348.10 million. For the next year, analysts expect that the business will post sales of $382.26 million, with estimates ranging from $372.08 million to $400.24 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow MaxLinear.

MaxLinear (NYSE:MXL) last announced its earnings results on Wednesday, May 1st. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. The company had revenue of $84.64 million for the quarter, compared to analyst estimates of $84.44 million. MaxLinear had a positive return on equity of 8.68% and a negative net margin of 9.17%. The firm’s quarterly revenue was down 23.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.37 earnings per share.

A number of analysts have issued reports on MXL shares. Needham & Company LLC lowered MaxLinear from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. They noted that the move was a valuation call. Zacks Investment Research raised MaxLinear from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. ValuEngine raised MaxLinear from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Wells Fargo & Co started coverage on MaxLinear in a research report on Tuesday, May 14th. They issued a “market perform” rating on the stock. Finally, Roth Capital cut their target price on MaxLinear from $28.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a strong buy rating to the company’s stock. MaxLinear presently has an average rating of “Hold” and a consensus target price of $20.80.

Shares of NYSE MXL opened at $23.35 on Friday. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 29.94, a price-to-earnings-growth ratio of 3.15 and a beta of 1.29. The company has a current ratio of 2.44, a quick ratio of 1.86 and a debt-to-equity ratio of 0.59. MaxLinear has a 52-week low of $14.87 and a 52-week high of $28.70. The firm has a 50 day moving average price of $22.48.

In other news, VP Michael J. Lachance sold 3,495 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $21.90, for a total transaction of $76,540.50. Following the sale, the vice president now owns 56,475 shares of the company’s stock, valued at $1,236,802.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael J. Lachance sold 36,470 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $21.65, for a total value of $789,575.50. The disclosure for this sale can be found here. 9.97% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the company. Bank of Montreal Can increased its position in shares of MaxLinear by 37.3% during the 4th quarter. Bank of Montreal Can now owns 3,728 shares of the semiconductor company’s stock valued at $66,000 after purchasing an additional 1,013 shares during the last quarter. Rhumbline Advisers grew its stake in shares of MaxLinear by 22.6% during the 4th quarter. Rhumbline Advisers now owns 176,292 shares of the semiconductor company’s stock worth $3,103,000 after acquiring an additional 32,444 shares during the period. Oregon Public Employees Retirement Fund bought a new position in shares of MaxLinear during the 4th quarter worth $420,000. Piedmont Investment Advisors Inc. grew its stake in shares of MaxLinear by 3.8% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 14,943 shares of the semiconductor company’s stock worth $263,000 after acquiring an additional 552 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in shares of MaxLinear by 24.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,995 shares of the semiconductor company’s stock worth $53,000 after acquiring an additional 584 shares during the period. 91.66% of the stock is currently owned by institutional investors and hedge funds.

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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