Insider Selling: MaxLinear, Inc. (NASDAQ:MXL) VP Sells 6,100 Shares of Stock

MaxLinear, Inc. (NASDAQ:MXL) VP William Torgerson sold 6,100 shares of MaxLinear stock in a transaction on Friday, November 8th. The stock was sold at an average price of $15.40, for a total value of $93,940.00. Following the completion of the sale, the vice president now directly owns 179,262 shares of the company’s stock, valued at $2,760,634.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

MaxLinear Stock Down 4.7 %

Shares of MaxLinear stock traded down $0.74 during trading hours on Wednesday, reaching $14.88. The company’s stock had a trading volume of 816,028 shares, compared to its average volume of 1,005,913. The company has a market capitalization of $1.26 billion, a P/E ratio of -5.47 and a beta of 1.85. MaxLinear, Inc. has a one year low of $11.08 and a one year 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. The stock’s fifty day simple moving average is $14.25 and its two-hundred day simple moving average is $16.49.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MXL. Headlands Technologies LLC bought a new stake in MaxLinear in the first quarter worth approximately $27,000. Innealta Capital LLC bought a new position in MaxLinear during the 2nd quarter worth approximately $30,000. International Assets Investment Management LLC purchased a new position in MaxLinear during the second quarter worth about $31,000. Canada Pension Plan Investment Board purchased a new position in shares of MaxLinear during the 2nd quarter valued at $56,000. Finally, Truvestments Capital LLC purchased a new stake in MaxLinear in the third quarter worth $42,000. Institutional investors and hedge funds own 90.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MXL shares. Susquehanna lowered shares of MaxLinear from a “positive” rating to a “neutral” rating and reduced their price objective for the company from $26.00 to $15.00 in a report on Tuesday, October 1st. Craig Hallum lowered their price objective on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a report on Thursday, October 24th. Northland Securities decreased their price objective on MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Finally, Stifel Nicolaus raised their target price on MaxLinear from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $23.86.

About MaxLinear

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.