MaxLinear Inc. (MXL) Insider Sells $43,213.59 in Stock
MaxLinear Inc. (NYSE:MXL) insider Connie H. Kwong sold 2,009 shares of the stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $21.51, for a total transaction of $43,213.59. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Shares of MaxLinear Inc. (NYSE:MXL) traded down 0.42% during mid-day trading on Wednesday, hitting $21.21. 1,365,947 shares of the stock traded hands. MaxLinear Inc. has a 12 month low of $12.67 and a 12 month high of $22.50. The firm has a 50 day moving average of $19.97 and a 200 day moving average of $19.53. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 31.19 and a beta of 0.85.
MaxLinear (NYSE:MXL) last released its earnings results on Monday, November 7th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.04. The company had revenue of $96.30 million for the quarter, compared to the consensus estimate of $16.14 million. MaxLinear had a net margin of 10.72% and a return on equity of 34.63%. MaxLinear’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.40 EPS. On average, equities analysts expect that MaxLinear Inc. will post $1.77 EPS for the current fiscal year.
A number of research analysts recently weighed in on MXL shares. Needham & Company LLC restated a “buy” rating and set a $21.00 price objective on shares of MaxLinear in a research report on Tuesday, August 9th. Stifel Nicolaus lowered their price objective on shares of MaxLinear from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, August 9th. Zacks Investment Research upgraded shares of MaxLinear from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Thursday, July 21st. Deutsche Bank AG restated a “buy” rating and set a $30.00 price objective (up previously from $22.00) on shares of MaxLinear in a research report on Monday, July 25th. Finally, Chardan Capital restated a “buy” rating on shares of MaxLinear in a research report on Wednesday, November 2nd. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $22.79.
A number of hedge funds have recently added to or reduced their stakes in MXL. BNP Paribas Arbitrage SA increased its stake in MaxLinear by 137.1% in the third quarter. BNP Paribas Arbitrage SA now owns 5,143 shares of the company’s stock valued at $104,000 after buying an additional 2,974 shares during the period. Howe & Rusling Inc. acquired a new stake in MaxLinear during the second quarter valued at approximately $131,000. Teacher Retirement System of Texas increased its stake in MaxLinear by 22.9% in the second quarter. Teacher Retirement System of Texas now owns 7,770 shares of the company’s stock valued at $140,000 after buying an additional 1,446 shares during the period. Advisor Group Inc. increased its stake in MaxLinear by 118.1% in the third quarter. Advisor Group Inc. now owns 7,057 shares of the company’s stock valued at $142,000 after buying an additional 3,821 shares during the period. Finally, Acrospire Investment Management LLC increased its stake in MaxLinear by 356.0% in the second quarter. Acrospire Investment Management LLC now owns 11,272 shares of the company’s stock valued at $203,000 after buying an additional 8,800 shares during the period. 79.51% of the stock is currently owned by institutional investors.
MaxLinear, Inc is a provider of integrated, radio-frequency (RF) and mixed-signal integrated circuits for broadband communications and data center, metro, and long-haul transport network applications. The Company’s RF receiver products capture and process digital and analog broadband signals to be decoded for various applications.
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