MaxLinear, Inc. (NASDAQ:MXL) VP Sells $93,940.00 in Stock

MaxLinear, Inc. (NASDAQ:MXL) VP William Torgerson sold 6,100 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $15.40, for a total value of $93,940.00. Following the completion of the transaction, the vice president now directly owns 179,262 shares of the company’s stock, valued at approximately $2,760,634.80. The trade was a 3.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

MaxLinear Stock Performance

NASDAQ:MXL opened at $14.86 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.95. The stock’s 50 day moving average price is $14.25 and its two-hundred day moving average price is $16.49. MaxLinear, Inc. has a 12-month low of $11.08 and a 12-month high of $26.59.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.04). The business had revenue of $81.10 million during the quarter, compared to the consensus estimate of $80.40 million. MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. MaxLinear’s quarterly revenue was down 40.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.02) EPS. On average, equities research analysts predict that MaxLinear, Inc. will post -1.66 EPS for the current year.

Analyst Upgrades and Downgrades

MXL has been the subject of several recent research reports. Northland Securities reduced their price objective on MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Susquehanna cut MaxLinear from a “positive” rating to a “neutral” rating and reduced their price objective for the stock from $26.00 to $15.00 in a research report on Tuesday, October 1st. Stifel Nicolaus upped their price objective on MaxLinear from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Benchmark reaffirmed a “buy” rating and set a $22.00 price objective on shares of MaxLinear in a research report on Thursday, October 24th. Finally, Craig Hallum reduced their price objective on MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $23.86.

Institutional Trading of MaxLinear

Several institutional investors and hedge funds have recently bought and sold shares of the business. Hood River Capital Management LLC bought a new position in shares of MaxLinear during the second quarter worth approximately $24,184,000. Vaughan Nelson Investment Management L.P. bought a new position in shares of MaxLinear during the third quarter worth approximately $16,696,000. Millennium Management LLC increased its stake in shares of MaxLinear by 307.9% during the second quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company’s stock worth $21,039,000 after purchasing an additional 788,558 shares during the period. Vanguard Group Inc. increased its stake in shares of MaxLinear by 5.8% during the first quarter. Vanguard Group Inc. now owns 12,253,823 shares of the semiconductor company’s stock worth $228,779,000 after purchasing an additional 667,550 shares during the period. Finally, FMR LLC increased its stake in shares of MaxLinear by 184.5% during the third quarter. FMR LLC now owns 456,929 shares of the semiconductor company’s stock worth $6,616,000 after purchasing an additional 296,339 shares during the period. Institutional investors own 90.79% of the company’s stock.

About MaxLinear

MaxLinear, Inc provides communications systems-on-chip solutions worldwide. Its products integrate various portions of a high-speed communication system, including radio frequency, high-performance analog, mixed-signal, digital signal processing, security engines, data compression and networking layers, and power management.