MaxLinear (NASDAQ:MXL) CEO Sells $30,207,471.30 in Stock

MaxLinear, Inc (NASDAQ:MXL) CEO Kishore Seendripu sold 351,454 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $85.95, for a total transaction of $30,207,471.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Kishore Seendripu also recently made the following trade(s):

• On Friday, August 14th, Kishore Seendripu sold 240,000 shares of MaxLinear stock. The shares were sold at an average price of $84.28, for a total transaction of $20,227,200.00.

MaxLinear Stock Performance

NASDAQ:MXL traded down $12.13 during trading hours on Tuesday, reaching $72.63. 2,731,502 shares of the company’s stock were exchanged, compared to its average volume of 3,200,429. The firm has a market capitalization of $6.59 billion, a price-to-earnings ratio of -61.03 and a beta of 3.96. The company has a 50-day moving average of $82.95 and a 200 day moving average of $55.90. The company has a quick ratio of 1.15, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. MaxLinear, Inc has a 1-year low of $12.77 and a 1-year high of $128.30.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings data on Thursday, July 23rd. The semiconductor company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. MaxLinear had a negative net margin of 18.24% and a positive return on equity of 2.24%. The company had revenue of $168.85 million for the quarter, compared to analyst estimates of $164.64 million. During the same period in the previous year, the business posted $0.02 earnings per share. MaxLinear’s quarterly revenue was up 55.2% on a year-over-year basis. Research analysts anticipate that MaxLinear, Inc will post 0.78 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MXL. Pure Financial Advisors LLC purchased a new stake in shares of MaxLinear during the 4th quarter worth $1,424,000. HighTower Advisors LLC lifted its stake in shares of MaxLinear by 1.7% in the fourth quarter. HighTower Advisors LLC now owns 656,319 shares of the semiconductor company’s stock valued at $11,440,000 after purchasing an additional 10,948 shares during the period. Pictet Asset Management Holding SA acquired a new stake in shares of MaxLinear in the fourth quarter valued at about $190,000. Assenagon Asset Management S.A. boosted its holdings in MaxLinear by 110.9% during the second quarter. Assenagon Asset Management S.A. now owns 221,266 shares of the semiconductor company’s stock worth $28,329,000 after buying an additional 116,339 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in MaxLinear by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 13,326,387 shares of the semiconductor company’s stock worth $232,279,000 after buying an additional 605,903 shares in the last quarter. Institutional investors and hedge funds own 90.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a report on Friday, July 17th. Loop Capital upgraded shares of MaxLinear from a “hold” rating to a “buy” rating and lifted their price objective for the company from $17.00 to $75.00 in a research report on Wednesday, April 29th. Susquehanna boosted their price objective on shares of MaxLinear from $45.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Wells Fargo & Company upped their price objective on shares of MaxLinear from $42.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, July 20th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $40.00 target price on shares of MaxLinear in a report on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $85.00.

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.