MaxLinear, Inc. (NASDAQ:MXL) Insider Sells $651,200.00 in Stock

MaxLinear, Inc. (NASDAQ:MXL) insider Steven G. Litchfield sold 32,000 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $20.35, for a total transaction of $651,200.00. Following the sale, the insider now owns 365,868 shares of the company’s stock, valued at $7,445,413.80. This trade represents a 8.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

MaxLinear Stock Down 0.8 %

Shares of MXL opened at $19.40 on Thursday. The business’s fifty day moving average price is $15.64 and its two-hundred day moving average price is $16.09. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of -7.13 and a beta of 1.87. MaxLinear, Inc. has a 52 week low of $11.08 and a 52 week high of $26.59. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.95.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in shares of MaxLinear by 0.4% during the third quarter. Geode Capital Management LLC now owns 1,805,722 shares of the semiconductor company’s stock worth $26,152,000 after buying an additional 6,420 shares during the last quarter. Barclays PLC grew its holdings in MaxLinear by 47.6% during the 3rd quarter. Barclays PLC now owns 335,804 shares of the semiconductor company’s stock worth $4,860,000 after acquiring an additional 108,346 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of MaxLinear by 4,298.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 20,979 shares of the semiconductor company’s stock valued at $304,000 after acquiring an additional 20,502 shares during the last quarter. Orion Portfolio Solutions LLC raised its position in shares of MaxLinear by 35.7% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 32,259 shares of the semiconductor company’s stock valued at $467,000 after acquiring an additional 8,495 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its stake in shares of MaxLinear by 21.8% in the 3rd quarter. Two Sigma Advisers LP now owns 694,149 shares of the semiconductor company’s stock valued at $10,051,000 after purchasing an additional 124,300 shares during the period. 90.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MXL has been the subject of several recent analyst reports. Wells Fargo & Company began coverage on shares of MaxLinear in a report on Friday, November 22nd. They set an “equal weight” rating and a $14.00 price objective for the company. Benchmark raised their price target on MaxLinear from $22.00 to $28.00 and gave the company a “buy” rating in a report on Monday, December 9th. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. Susquehanna cut MaxLinear from a “positive” rating to a “neutral” rating and decreased their target price for the stock from $26.00 to $15.00 in a report on Tuesday, October 1st. Finally, Craig Hallum cut 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.