MaxLinear, Inc. (NASDAQ:MXL - Get Free Report) insider Steven G. Litchfield sold 32,000 shares of the business's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $20.35, for a total value of $651,200.00. Following the completion of the transaction, the insider now directly owns 365,868 shares in the company, valued at approximately $7,445,413.80. This trade represents a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
MaxLinear Stock Performance
Shares of MXL opened at $20.90 on Tuesday. The firm has a market capitalization of $1.76 billion, a P/E ratio of -7.68 and a beta of 1.87. MaxLinear, Inc. has a 52 week low of $11.08 and a 52 week high of $26.59. The stock has a 50 day moving average price of $15.53 and a two-hundred day moving average price of $16.08. 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 - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.04). The company had revenue of $81.10 million during the quarter, compared to analysts' expectations of $80.40 million. MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. The company's quarterly revenue was down 40.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.02) earnings per share. Equities analysts forecast that MaxLinear, Inc. will post -1.66 earnings per share for the current fiscal year.
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MXL has been the topic of a number of research reports. Needham & Company LLC reiterated a "hold" rating on shares of MaxLinear in a research report on Thursday, October 24th. Craig Hallum dropped their price objective on shares of MaxLinear from $28.00 to $25.00 and set a "buy" rating on the stock in a report on Thursday, October 24th. Wells Fargo & Company assumed coverage on MaxLinear in a research note on Friday, November 22nd. They issued an "equal weight" rating and a $14.00 target price for the company. Benchmark upped their price target on MaxLinear from $22.00 to $28.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Finally, Susquehanna lowered MaxLinear from a "positive" rating to a "neutral" rating and cut their price target for the stock from $26.00 to $15.00 in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $23.14.
Read Our Latest Research Report on MaxLinear
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in MaxLinear by 0.4% during the third quarter. Geode Capital Management LLC now owns 1,805,722 shares of the semiconductor company's stock worth $26,152,000 after acquiring an additional 6,420 shares during the period. Barclays PLC boosted its holdings in shares of MaxLinear by 47.6% in the 3rd quarter. Barclays PLC now owns 335,804 shares of the semiconductor company's stock worth $4,860,000 after buying an additional 108,346 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in MaxLinear by 4,298.1% during the third quarter. Public Employees Retirement System of Ohio now owns 20,979 shares of the semiconductor company's stock valued at $304,000 after buying an additional 20,502 shares during the period. Orion Portfolio Solutions LLC increased its holdings in MaxLinear by 35.7% during the third quarter. Orion Portfolio Solutions LLC now owns 32,259 shares of the semiconductor company's stock worth $467,000 after buying an additional 8,495 shares during the last quarter. Finally, Two Sigma Advisers LP raised its position in MaxLinear by 21.8% in the third quarter. Two Sigma Advisers LP now owns 694,149 shares of the semiconductor company's stock worth $10,051,000 after acquiring an additional 124,300 shares during the period. 90.79% of the stock is owned by institutional investors.
About MaxLinear
(
Get Free Report)
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.
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