Insider Selling: MaxLinear (NASDAQ:MXL) Director Sells 11,000 Shares of Stock

MaxLinear, Inc (NASDAQ:MXL) Director Thomas Pardun sold 11,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $105.00, for a total value of $1,155,000.00. Following the completion of the transaction, the director directly owned 55,252 shares of the company’s stock, valued at approximately $5,801,460. The trade was a 16.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

MaxLinear Price Performance

MXL traded down $3.34 on Thursday, reaching $97.76. The stock had a trading volume of 3,863,601 shares, compared to its average volume of 2,814,807. MaxLinear, Inc has a fifty-two week low of $10.96 and a fifty-two week high of $106.28. The firm has a 50-day moving average of $49.40 and a 200-day moving average of $28.70. The company has a current ratio of 1.70, a quick ratio of 1.12 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $8.75 billion, a price-to-earnings ratio of -64.32 and a beta of 3.95.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.04. The company had revenue of $137.19 million during the quarter, compared to analysts’ expectations of $137.15 million. MaxLinear had a negative return on equity of 2.33% and a negative net margin of 25.96%.The business’s quarterly revenue was up 43.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. As a group, sell-side analysts anticipate that MaxLinear, Inc will post 0.52 EPS for the current year.

Institutional Investors Weigh In On MaxLinear

Large investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC grew its stake in MaxLinear by 161.7% during the fourth quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 875 shares during the period. Smartleaf Asset Management LLC grew its stake in MaxLinear by 103.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 726 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in MaxLinear during the fourth quarter worth approximately $25,000. International Assets Investment Management LLC acquired a new stake in MaxLinear during the fourth quarter worth approximately $27,000. Finally, EverSource Wealth Advisors LLC grew its stake in MaxLinear by 16.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 217 shares during the period. Institutional investors and hedge funds own 90.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MXL. Stifel Nicolaus boosted their price target on shares of MaxLinear from $34.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a research note on Tuesday, April 21st. Needham & Company LLC upgraded shares of MaxLinear from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $40.00 price target on shares of MaxLinear in a research report on Friday, April 24th. Finally, Loop Capital upgraded MaxLinear from a “hold” rating to a “buy” rating and increased their price target for the stock from $17.00 to $75.00 in a report on Wednesday, April 29th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, MaxLinear currently has a consensus rating of “Hold” and a consensus target price of $44.20.

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.