Insider Selling: MaxLinear (NASDAQ:MXL) CEO Sells 351,454 Shares of Stock

MaxLinear, Inc (NASDAQ:MXL) CEO Kishore Seendripu sold 351,454 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $85.95, for a total value of $30,207,471.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Kishore Seendripu also recently made the following trade(s):

• On Friday, August 14th, Kishore Seendripu sold 240,000 shares of MaxLinear stock. The shares were sold at an average price of $84.28, for a total value of $20,227,200.00.

MaxLinear Price Performance

MXL traded down $12.13 during trading on Tuesday, reaching $72.63. 2,731,502 shares of the stock were exchanged, compared to its average volume of 3,200,429. The business’s 50 day moving average price is $82.95 and its two-hundred day moving average price is $55.90. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.15. The company has a market capitalization of $6.59 billion, a price-to-earnings ratio of -61.03 and a beta of 3.96. MaxLinear, Inc has a 1 year low of $12.77 and a 1 year high of $128.30.

MaxLinear (NASDAQ:MXL) last posted its earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. MaxLinear had a positive return on equity of 2.24% and a negative net margin of 18.24%.The company had revenue of $168.85 million for the quarter, compared to analyst estimates of $164.64 million. During the same quarter in the prior year, the company earned $0.02 earnings per share. MaxLinear’s revenue was up 55.2% compared to the same quarter last year. As a group, equities research analysts anticipate that MaxLinear, Inc will post 0.78 earnings per share for the current year.

Institutional Investors Weigh In On MaxLinear

A number of hedge funds and other institutional investors have recently modified their holdings of MXL. EverSource Wealth Advisors LLC raised its position in shares of MaxLinear by 16.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 217 shares during the last quarter. GAMMA Investing LLC boosted its position in MaxLinear by 5.6% during the second quarter. GAMMA Investing LLC now owns 6,152 shares of the semiconductor company’s stock worth $788,000 after acquiring an additional 326 shares during the last quarter. Carolina Wealth Advisors LLC purchased a new stake in MaxLinear in the 2nd quarter worth approximately $47,000. Global Retirement Partners LLC acquired a new position in MaxLinear in the 2nd quarter valued at $56,000. Finally, Captrust Financial Advisors raised its holdings in MaxLinear by 4.3% in the 4th quarter. Captrust Financial Advisors now owns 14,074 shares of the semiconductor company’s stock valued at $245,000 after acquiring an additional 577 shares during the last quarter. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Wall Street Zen upgraded shares of MaxLinear from a “hold” rating to a “buy” rating in a research report on Sunday, July 26th. Susquehanna raised their price objective on shares of MaxLinear from $45.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Needham & Company LLC lifted their price objective on MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $40.00 target price on shares of MaxLinear in a report on Friday, April 24th. Finally, Wells Fargo & Company raised their price target on MaxLinear from $42.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, July 20th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, MaxLinear has a consensus rating of “Hold” and a consensus target price of $85.00.

MaxLinear Company Profile

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.