Insider Selling: MaxLinear, Inc. (NASDAQ:MXL) Director Sells 5,800 Shares of Stock

MaxLinear, Inc. (NASDAQ:MXL) Director Ted L. Tewksbury III sold 5,800 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $15.36, for a total transaction of $89,088.00. Following the transaction, the director now directly owns 69,717 shares in the company, valued at approximately $1,070,853.12. The trade was a 7.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

MaxLinear Stock Performance

Shares of MXL stock traded up $0.33 on Monday, hitting $15.87. 1,120,187 shares of the stock traded hands, compared to its average volume of 998,813. The company has a market capitalization of $1.34 billion, a PE ratio of -5.89 and a beta of 1.85. The company’s fifty day moving average is $14.40 and its 200 day moving average is $16.21. 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, Inc. has a 1-year low of $11.08 and a 1-year high of $26.59.

MaxLinear (NASDAQ:MXL) last posted its quarterly 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 return on equity of 19.22% and a negative net margin of 57.37%. The business had revenue of $81.10 million during the quarter, compared to the consensus estimate of $80.40 million. During the same quarter in the previous year, the business posted ($0.02) earnings per share. The company’s quarterly revenue was down 40.2% compared to the same quarter last year. On average, equities research analysts predict that MaxLinear, Inc. will post -1.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MXL. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. Wells Fargo & Company began coverage on MaxLinear in a research note on Friday. They issued an “equal weight” rating and a $14.00 price target on the stock. Benchmark restated a “buy” rating and set a $22.00 price objective on shares of MaxLinear in a research note on Thursday, October 24th. Susquehanna lowered MaxLinear from a “positive” rating to a “neutral” rating and cut their target price for the company from $26.00 to $15.00 in a research report on Tuesday, October 1st. Finally, Craig Hallum decreased their price target 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $22.29.

Hedge Funds Weigh In On MaxLinear

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of MaxLinear by 5.8% during the first quarter. Vanguard Group Inc. now owns 12,253,823 shares of the semiconductor company’s stock valued at $228,779,000 after acquiring an additional 667,550 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in MaxLinear during the 3rd quarter valued at about $16,696,000. EntryPoint Capital LLC bought a new position in MaxLinear in the 1st quarter worth about $59,000. Millennium Management LLC increased its stake in shares of MaxLinear by 307.9% in the second quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company’s stock valued at $21,039,000 after purchasing an additional 788,558 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in shares of MaxLinear during the third quarter valued at approximately $833,000. 90.79% of the stock is currently owned by institutional investors and hedge funds.

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.