Insider Selling: MaxLinear, Inc. (NASDAQ:MXL) Insider Sells 32,000 Shares of Stock

MaxLinear, Inc. (NASDAQ:MXL) insider Steven G. Litchfield sold 32,000 shares of MaxLinear stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $20.35, for a total transaction of $651,200.00. Following the transaction, the insider now directly owns 365,868 shares in the company, valued at $7,445,413.80. The trade was a 8.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

MaxLinear Stock Performance

MXL opened at $19.40 on Thursday. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of -7.13 and a beta of 1.87. The business’s 50-day moving average price is $15.64 and its two-hundred day moving average price is $16.09. MaxLinear, Inc. has a 1 year low of $11.08 and a 1 year high of $26.59. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.95 and a quick ratio of 1.38.

MaxLinear (NASDAQ:MXL) last announced its earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. The firm had revenue of $81.10 million during the quarter, compared to analyst estimates of $80.40 million. During the same period in the prior year, the business posted ($0.02) EPS. The firm’s quarterly revenue was down 40.2% compared to the same quarter last year. Equities analysts expect that MaxLinear, Inc. will post -1.66 EPS for the current fiscal year.

Institutional Trading of MaxLinear

A number of hedge funds and other institutional investors have recently made changes to their positions in MXL. Louisiana State Employees Retirement System grew its position in MaxLinear by 3.0% in the second quarter. Louisiana State Employees Retirement System now owns 38,000 shares of the semiconductor company’s stock valued at $765,000 after purchasing an additional 1,100 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in MaxLinear by 20.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 7,761 shares of the semiconductor company’s stock worth $112,000 after buying an additional 1,308 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of MaxLinear during the 2nd quarter worth about $30,000. International Assets Investment Management LLC bought a new position in shares of MaxLinear in the 2nd quarter valued at about $31,000. Finally, GAMMA Investing LLC increased its position in shares of MaxLinear by 151.8% in the third quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 2,093 shares during the last quarter. 90.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MXL shares. Wells Fargo & Company started coverage on shares of MaxLinear in a report on Friday, November 22nd. They issued an “equal weight” rating and a $14.00 target price on the stock. Benchmark raised their price objective on MaxLinear from $22.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Susquehanna cut MaxLinear from a “positive” rating to a “neutral” rating and decreased their target price for the company from $26.00 to $15.00 in a research note on Tuesday, October 1st. Craig Hallum lowered their price target on MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of MaxLinear in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $23.14.

MaxLinear Company Profile

MaxLinear, Inc provides communications systems-on-chip solutions worldwide. Its products integrate various portions of a high-speed communication system, including radio frequency, high-performance analog, mixed-signal, digital signal processing, security engines, data compression and networking layers, and power management.