MaxLinear (NASDAQ:MXL) Insider Sells $313,600.00 in Stock

MaxLinear, Inc (NASDAQ:MXL) insider Steven Litchfield sold 20,000 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $15.68, for a total transaction of $313,600.00. Following the completion of the sale, the insider directly owned 343,435 shares of the company’s stock, valued at $5,385,060.80. This represents a 5.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

MaxLinear Price Performance

NASDAQ MXL opened at $15.72 on Monday. The company has a current ratio of 1.34, a quick ratio of 0.92 and a debt-to-equity ratio of 0.27. MaxLinear, Inc has a 12 month low of $8.35 and a 12 month high of $20.82. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of -9.95 and a beta of 1.70. The company’s 50 day moving average is $18.36 and its two-hundred day moving average is $16.96.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings results on Thursday, January 29th. The semiconductor company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $136.44 million during the quarter, compared to analyst estimates of $134.82 million. MaxLinear had a negative net margin of 29.23% and a negative return on equity of 6.95%. The company’s revenue was up 48.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.09) earnings per share. As a group, research analysts anticipate that MaxLinear, Inc will post -0.37 earnings per share for the current year.

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

Institutional Trading of MaxLinear

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC lifted its position in MaxLinear by 161.7% in the fourth quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock worth $25,000 after buying an additional 875 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in MaxLinear by 103.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock worth $25,000 after buying an additional 726 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in MaxLinear during the fourth quarter valued at $25,000. International Assets Investment Management LLC bought a new position in MaxLinear during the fourth quarter valued at $27,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of MaxLinear by 97.0% in the third quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 1,039 shares during the period. Hedge funds and other institutional investors own 90.79% of the company’s stock.

Analysts Set New Price Targets

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