MaxLinear (NYSE:MXL) insider Connie H. Kwong sold 1,500 shares of the stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $19.30, for a total value of $28,950.00. Following the sale, the insider now owns 5,609 shares in the company, valued at $108,253.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
MXL traded down $0.07 during trading on Thursday, hitting $19.10. 322,449 shares of the company’s stock traded hands, compared to its average volume of 659,503. The company has a current ratio of 3.00, a quick ratio of 2.32 and a debt-to-equity ratio of 0.79. MaxLinear has a 12-month low of $18.82 and a 12-month high of $19.17. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 16.19, a P/E/G ratio of 0.95 and a beta of 0.55.
MaxLinear (NYSE:MXL) last issued its earnings results on Tuesday, May 8th. The semiconductor company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01. MaxLinear had a positive return on equity of 19.99% and a negative net margin of 3.57%. The business had revenue of $110.83 million for the quarter, compared to the consensus estimate of $111.91 million. During the same period last year, the business posted $0.33 EPS. The company’s revenue was up 24.8% compared to the same quarter last year. research analysts forecast that MaxLinear will post 1 EPS for the current year.
Several brokerages have commented on MXL. Zacks Investment Research downgraded MaxLinear from a “hold” rating to a “sell” rating in a research note on Tuesday. ValuEngine downgraded MaxLinear from a “hold” rating to a “sell” rating in a research note on Wednesday, May 9th. Stifel Nicolaus cut their target price on MaxLinear from $33.00 to $31.00 and set a “buy” rating on the stock in a research note on Wednesday, May 9th. Deutsche Bank downgraded MaxLinear from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research note on Wednesday, May 9th. Finally, Needham & Company LLC cut their target price on MaxLinear from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, February 14th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. MaxLinear has an average rating of “Hold” and an average price target of $30.80.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its holdings in shares of MaxLinear by 62.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 7,599 shares of the semiconductor company’s stock valued at $173,000 after buying an additional 2,911 shares during the period. Xact Kapitalforvaltning AB bought a new position in shares of MaxLinear during the 4th quarter valued at $200,000. Meadow Creek Investment Management LLC bought a new position in shares of MaxLinear during the 4th quarter valued at $216,000. Amalgamated Bank bought a new position in shares of MaxLinear during the 4th quarter valued at $238,000. Finally, Profund Advisors LLC lifted its holdings in shares of MaxLinear by 34.4% during the 1st quarter. Profund Advisors LLC now owns 12,509 shares of the semiconductor company’s stock valued at $285,000 after buying an additional 3,205 shares during the period. 90.80% of the stock is currently owned by hedge funds and other institutional investors.
MaxLinear, Inc provides radio-frequency (RF), high-performance analog, and mixed-signal communications systems-on-chip solutions (SoCs) for the connected home, wired and wireless infrastructure, and industrial and multi-market applications worldwide. The company offers range of semiconductor products, such as RF receivers and RF receiver SoCs, wireless infrastructure backhaul RF receivers and modem SoCs, laser modulator drivers, transimpedance amplifiers, clock and data recovery circuits, interface solutions, power management products, and data encryption and compression products.
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