MaxLinear (MXL) was Reiterated by Deutsche Bank to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 30 from a previous price target of $22 . Deutsche Bank advised their investors in a research report released on Jul 25, 2016.
On the company’s financial health, MaxLinear reported $0.47 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on May 9, 2016. Analyst had a consensus of $0.46. The company had revenue of $102.70 million for the quarter, compared to analysts expectations of $102.22 million. The company’s revenue was up 190.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 EPS.
MaxLinear opened for trading at $21.35 and hit $21.5007 on the upside on Wednesday, eventually ending the session at $21.32, with a gain of 0.80% or 0.17 points. The heightened volatility saw the trading volume jump to 7,71,203 shares. Company has a market cap of $1,344 M.
In a different news, on Jun 13, 2016, Brendan Walsh (VP, Product Line Marketing) sold 12,500 shares at $20.24 per share price. According to the SEC, on Jun 6, 2016, Thomas E Pardun (director) sold 18,000 shares at $20.39 per share price. On Jun 1, 2016, Steven Craddock (director) sold 18,770 shares at $20.62 per share price, according to the Form-4 filing with the securities and exchange commission.
MaxLinear Inc. is a provider of integrated radio-frequency (RF) and mixed-signal integrated circuits for broadband communications and data center metro and long-haul transport network applications. The Company offers semiconductor products such as RF Receivers RF Receiver systems-on-chip (SoCs) Laser Modulator Drivers Transimpedance Amplifiers and Clock and Data Recovery Circuits. The Company’s products receive and process RF and digital signals and enable the display of broadband video and data content in a range of electronic devices including cable and terrestrial and satellite set top boxes data over cable service interface specification (DOCSIS) data and voice gateways hybrid analog and digital televisions satellite low-noise blocker transponders or outdoor units and optical modules for data center metro and long-haul transport network applications.