Steven Litchfield Sells 4,929 Shares of MaxLinear (NASDAQ:MXL) Stock

MaxLinear, Inc (NASDAQ:MXL) insider Steven Litchfield sold 4,929 shares of the firm’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $16.81, for a total value of $82,856.49. Following the completion of the transaction, the insider directly owned 363,435 shares in the company, valued at $6,109,342.35. This trade represents a 1.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

MaxLinear Trading Down 4.1%

MXL stock opened at $15.72 on Friday. MaxLinear, Inc has a fifty-two week low of $8.35 and a fifty-two week high of $20.82. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.92 and a current ratio of 1.34. The firm has a fifty day moving average price of $18.36 and a 200 day moving average price of $16.94. The firm has a market cap of $1.36 billion, a PE ratio of -9.95 and a beta of 1.70.

MaxLinear (NASDAQ:MXL) last announced its earnings results on Thursday, January 29th. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. The firm had revenue of $136.44 million for the quarter, compared to analysts’ expectations of $134.82 million. MaxLinear had a negative net margin of 29.23% and a negative return on equity of 6.95%. The business’s revenue was up 48.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.09) EPS. Sell-side analysts anticipate that MaxLinear, Inc will post -0.37 earnings per share for the current fiscal year.

MaxLinear declared that its board has authorized a stock buyback plan on Monday, November 24th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 5.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Institutional Trading of MaxLinear

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Pure Financial Advisors LLC purchased a new position in shares of MaxLinear in the 4th quarter valued at $1,424,000. Invesco Ltd. raised its position in shares of MaxLinear by 419.9% in the 4th quarter. Invesco Ltd. now owns 2,149,589 shares of the semiconductor company’s stock worth $37,467,000 after acquiring an additional 1,736,141 shares in the last quarter. Summit Global Investments lifted its stake in shares of MaxLinear by 68.2% during the 4th quarter. Summit Global Investments now owns 58,007 shares of the semiconductor company’s stock worth $1,011,000 after purchasing an additional 23,510 shares during the last quarter. XTX Topco Ltd lifted its stake in shares of MaxLinear by 75.0% during the 4th quarter. XTX Topco Ltd now owns 54,622 shares of the semiconductor company’s stock worth $952,000 after purchasing an additional 23,417 shares during the last quarter. Finally, nVerses Capital LLC bought a new stake in MaxLinear during the fourth quarter valued at about $204,000. Institutional investors own 90.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Benchmark raised their price target on MaxLinear from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MaxLinear in a report on Thursday, January 22nd. Finally, Wells Fargo & Company upped their price objective on shares of MaxLinear from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Friday, January 30th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $19.57.

About MaxLinear

MaxLinear, Inc is a provider of radio-frequency (RF), analog, and mixed-signal integrated circuits for broadband communications, data center connectivity, and video infrastructure applications. The company’s product portfolio includes high-performance RF front-end modules, broadband power amplifiers, optical and Ethernet transceivers, and network processors designed to support demanding signal processing requirements.

MaxLinear’s semiconductor solutions are used by cable and satellite television operators, fiber-to-the-home service providers, network equipment manufacturers, and data center operators.