MaxLinear, Inc. (NASDAQ:MXL) Director Ted L. Tewksbury III Sells 5,800 Shares

MaxLinear, Inc. (NASDAQ:MXL) Director Ted L. Tewksbury III sold 5,800 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $15.36, for a total transaction of $89,088.00. Following the completion of the sale, the director now directly owns 69,717 shares of the company’s stock, valued at approximately $1,070,853.12. This represents a 7.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

MaxLinear Price Performance

NASDAQ MXL traded up $0.33 during trading hours on Monday, reaching $15.87. 1,120,187 shares of the company’s stock were exchanged, compared to its average volume of 998,813. The firm has a fifty day moving average of $14.40 and a 200-day moving average of $16.21. The company has a current ratio of 1.95, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22. MaxLinear, Inc. has a one year low of $11.08 and a one year high of $26.59. The stock has a market cap of $1.34 billion, a PE ratio of -5.89 and a beta of 1.85.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). The firm 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%. The firm’s quarterly revenue was down 40.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.02) earnings per share. On average, equities research analysts predict that MaxLinear, Inc. will post -1.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. ProShare Advisors LLC lifted its holdings in MaxLinear by 7.4% in the first quarter. ProShare Advisors LLC now owns 15,304 shares of the semiconductor company’s stock valued at $286,000 after buying an additional 1,061 shares during the period. State Board of Administration of Florida Retirement System raised its position in shares of MaxLinear by 18.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 25,249 shares of the semiconductor company’s stock valued at $471,000 after acquiring an additional 3,950 shares during the period. Vanguard Group Inc. boosted its position 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 in the last quarter. UniSuper Management Pty Ltd acquired a new stake in MaxLinear during the 1st quarter worth $315,000. Finally, CANADA LIFE ASSURANCE Co grew its stake in MaxLinear by 33.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 80,015 shares of the semiconductor company’s stock valued at $1,491,000 after acquiring an additional 19,946 shares during the period. Institutional investors own 90.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MXL. Benchmark reaffirmed a “buy” rating and set a $22.00 target price on shares of MaxLinear in a report on Thursday, October 24th. Susquehanna cut shares of MaxLinear from a “positive” rating to a “neutral” rating and lowered their price objective for the stock from $26.00 to $15.00 in a research report on Tuesday, October 1st. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. Craig Hallum decreased their target price on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Finally, Wells Fargo & Company started coverage on MaxLinear in a research report on Friday. They issued an “equal weight” rating and a $14.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $22.29.

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.