Insider Selling: MaxLinear, Inc. (NASDAQ:MXL) Director Sells $89,088.00 in Stock

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

MaxLinear Trading Down 2.6 %

MXL stock opened at $14.55 on Thursday. MaxLinear, Inc. has a fifty-two week low of $11.08 and a fifty-two week high of $26.59. The firm has a market cap of $1.23 billion, a PE ratio of -5.35 and a beta of 1.85. The firm has a fifty day moving average price of $14.44 and a 200 day moving average price of $16.16. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.95.

MaxLinear (NASDAQ:MXL) last released its 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). 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 for the quarter, compared to the consensus estimate of $80.40 million. During the same quarter last year, the business posted ($0.02) earnings per share. The firm’s revenue for the quarter was down 40.2% compared to the same quarter last year. Sell-side analysts anticipate that MaxLinear, Inc. will post -1.66 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company assumed coverage on shares of MaxLinear in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $14.00 price objective on the stock. Susquehanna cut shares of MaxLinear from a “positive” rating to a “neutral” rating and lowered their price objective for the stock from $26.00 to $15.00 in a research note on Tuesday, October 1st. Benchmark reiterated a “buy” rating and issued a $22.00 price objective on shares of MaxLinear in a research note on Thursday, October 24th. Craig Hallum lowered their price objective on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, MaxLinear presently has a consensus rating of “Hold” and a consensus price target of $22.29.

Institutional Trading of MaxLinear

Several institutional investors and hedge funds have recently made changes to their positions in MXL. Hood River Capital Management LLC bought a new stake in shares of MaxLinear during the second quarter worth $24,184,000. Vaughan Nelson Investment Management L.P. bought a new stake in shares of MaxLinear in the third quarter valued at about $16,696,000. Millennium Management LLC raised its holdings 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 acquiring an additional 788,558 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of MaxLinear by 5.8% in 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 in the last quarter. Finally, FMR LLC raised its holdings in shares of MaxLinear by 184.5% in the third quarter. FMR LLC now owns 456,929 shares of the semiconductor company’s stock valued at $6,616,000 after acquiring an additional 296,339 shares in the last quarter. 90.79% of the stock is currently owned by institutional investors.

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.