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 the business’s 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 transaction, the insider now owns 365,868 shares in the company, valued at $7,445,413.80. This represents a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

MaxLinear Stock Performance

MXL traded up $0.22 during trading on Monday, hitting $20.90. The stock had a trading volume of 1,672,028 shares, compared to its average volume of 1,041,244. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.95 and a quick ratio of 1.38. The company has a 50 day moving average price of $15.53 and a 200-day moving average price of $16.08. MaxLinear, Inc. has a one year low of $11.08 and a one year high of $26.59. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of -7.68 and a beta of 1.87.

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 business had revenue of $81.10 million during the quarter, compared to the consensus estimate of $80.40 million. During the same period in the previous year, the firm posted ($0.02) EPS. The company’s revenue was down 40.2% compared to the same quarter last year. As a group, research analysts predict that MaxLinear, Inc. will post -1.66 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on MXL. Benchmark boosted their price target on MaxLinear from $22.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Susquehanna lowered 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. Craig Hallum dropped their price target on MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Wells Fargo & Company initiated coverage on shares of MaxLinear in a research report on Friday, November 22nd. They set an “equal weight” rating and a $14.00 price objective for the company. 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 given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $23.14.

Institutional Inflows and Outflows

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

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.