MaxLinear (NASDAQ:MXL) Insider Sells $350,000.00 in Stock

MaxLinear, Inc (NASDAQ:MXL) insider Steven Litchfield sold 20,000 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $17.50, for a total value of $350,000.00. Following the completion of the sale, the insider owned 368,364 shares in the company, valued at approximately $6,446,370. This represents a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

MaxLinear Stock Down 4.1%

Shares of NASDAQ:MXL traded down $0.67 on Friday, hitting $15.72. 1,290,362 shares of the company’s stock were exchanged, compared to its average volume of 1,194,840. MaxLinear, Inc has a 1-year low of $8.35 and a 1-year high of $20.82. The company has a market capitalization of $1.36 billion, a PE 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. The firm’s 50-day moving average is $18.40 and its 200 day moving average is $16.92.

MaxLinear (NASDAQ:MXL) last posted its earnings results on Thursday, January 29th. The semiconductor company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.01. MaxLinear had a negative return on equity of 6.95% and a negative net margin of 29.23%.The firm had revenue of $136.44 million during the quarter, compared to analysts’ expectations of $134.82 million. During the same quarter in the previous year, the business earned ($0.09) earnings per share. The firm’s revenue was up 48.0% compared to the same quarter last year. Sell-side analysts predict that MaxLinear, Inc will post -0.37 EPS for the current year.

MaxLinear announced that its Board of Directors has authorized a share repurchase plan on Monday, November 24th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the semiconductor company to purchase up to 5.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its position in MaxLinear by 3.1% during the 1st quarter. Royal Bank of Canada now owns 72,664 shares of the semiconductor company’s stock worth $789,000 after purchasing an additional 2,204 shares during the period. AQR Capital Management LLC grew its holdings in MaxLinear by 56.0% during the first quarter. AQR Capital Management LLC now owns 296,297 shares of the semiconductor company’s stock worth $3,218,000 after acquiring an additional 106,355 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in MaxLinear by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,437 shares of the semiconductor company’s stock worth $515,000 after acquiring an additional 2,043 shares during the period. Goldman Sachs Group Inc. lifted its holdings in MaxLinear by 0.4% in the first quarter. Goldman Sachs Group Inc. now owns 535,230 shares of the semiconductor company’s stock valued at $5,813,000 after acquiring an additional 2,039 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of MaxLinear by 23.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 182,362 shares of the semiconductor company’s stock worth $1,980,000 after purchasing an additional 35,152 shares during the period. 90.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MXL shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of MaxLinear in a research note on Thursday, January 22nd. Benchmark upped their price target on shares of MaxLinear from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, January 16th. Finally, Wells Fargo & Company raised their price objective on shares of MaxLinear from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Friday, January 30th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $19.57.

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.