Insider Selling: MaxLinear (NASDAQ:MXL) Insider Sells $82,856.49 in Stock

MaxLinear, Inc (NASDAQ:MXL) insider Steven Litchfield sold 4,929 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $16.81, for a total value of $82,856.49. Following the transaction, the insider owned 363,435 shares of the company’s stock, valued at $6,109,342.35. This trade represents a 1.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

MaxLinear Price Performance

Shares of MXL opened at $15.72 on Monday. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of -9.95 and a beta of 1.70. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.92 and a current ratio of 1.34. MaxLinear, Inc has a one year low of $8.35 and a one year high of $20.82. The stock’s fifty day moving average is $18.36 and its 200-day moving average is $16.96.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings data on Thursday, January 29th. The semiconductor company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $136.44 million for the quarter, compared to analysts’ expectations 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 previous year, the business earned ($0.09) earnings per share. Equities analysts anticipate that MaxLinear, Inc will post -0.37 EPS for the current year.

MaxLinear declared that its board has approved a stock buyback plan on Monday, November 24th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 5.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have recently issued reports on MXL. Wells Fargo & Company increased their price objective on shares of MaxLinear from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. Benchmark boosted their target price on MaxLinear from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, January 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a research report 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. Based on data from MarketBeat.com, MaxLinear has a consensus rating of “Hold” and a consensus price target of $19.57.

Institutional Investors Weigh In On MaxLinear

Several hedge funds and other institutional investors have recently bought and sold shares of MXL. Pure Financial Advisors LLC bought a new position in shares of MaxLinear during the 4th quarter valued at about $1,424,000. Invesco Ltd. raised its holdings in shares of MaxLinear by 419.9% in the 4th quarter. Invesco Ltd. now owns 2,149,589 shares of the semiconductor company’s stock worth $37,467,000 after purchasing an additional 1,736,141 shares in the last quarter. Summit Global Investments raised its holdings in shares of MaxLinear by 68.2% in the 4th quarter. Summit Global Investments now owns 58,007 shares of the semiconductor company’s stock worth $1,011,000 after purchasing an additional 23,510 shares in the last quarter. XTX Topco Ltd lifted its stake in MaxLinear by 75.0% during the fourth quarter. XTX Topco Ltd now owns 54,622 shares of the semiconductor company’s stock valued at $952,000 after purchasing an additional 23,417 shares during the last quarter. Finally, nVerses Capital LLC acquired a new stake in MaxLinear during the fourth quarter valued at approximately $204,000. 90.79% of the stock is currently owned by institutional investors.

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.