Insider Selling: MaxLinear, Inc. (NASDAQ:MXL) Director Sells 5,800 Shares of Stock

MaxLinear, Inc. (NASDAQ:MXL) Director Ted L. Tewksbury III sold 5,800 shares of MaxLinear 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 of the company’s stock, valued at $1,070,853.12. This represents a 7.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

MaxLinear Stock Up 2.1 %

MXL stock opened at $15.87 on Tuesday. The stock has a market cap of $1.34 billion, a P/E ratio of -5.89 and a beta of 1.85. The company has a current ratio of 1.95, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22. The stock’s fifty day simple moving average is $14.40 and its two-hundred day simple moving average is $16.21. MaxLinear, Inc. has a 1-year low of $11.08 and a 1-year high of $26.59.

MaxLinear (NASDAQ:MXL) last released its 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 business had revenue of $81.10 million for the quarter, compared to the consensus estimate of $80.40 million. MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%. The company’s revenue for the quarter was down 40.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.02) earnings per share. Analysts expect that MaxLinear, Inc. will post -1.66 EPS for the current year.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MXL. ProShare Advisors LLC increased its holdings in MaxLinear by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 15,304 shares of the semiconductor company’s stock worth $286,000 after acquiring an additional 1,061 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in MaxLinear by 18.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 25,249 shares of the semiconductor company’s stock worth $471,000 after purchasing an additional 3,950 shares during the period. Vanguard Group Inc. increased its stake 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 worth $228,779,000 after purchasing an additional 667,550 shares in the last quarter. UniSuper Management Pty Ltd bought a new stake in shares of MaxLinear in the first quarter valued at approximately $315,000. Finally, CANADA LIFE ASSURANCE Co lifted its stake in shares of MaxLinear by 33.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 80,015 shares of the semiconductor company’s stock valued at $1,491,000 after buying an additional 19,946 shares in the last quarter. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

MaxLinear Company Profile

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.