Steven G. Litchfield Sells 32,000 Shares of MaxLinear, Inc. (NASDAQ:MXL) Stock

MaxLinear, Inc. (NASDAQ:MXL) insider Steven G. Litchfield sold 32,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $20.35, for a total value of $651,200.00. Following the transaction, the insider now directly owns 365,868 shares in the company, valued at $7,445,413.80. This trade represents a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

MaxLinear Stock Performance

Shares of MaxLinear stock opened at $19.55 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.95. MaxLinear, Inc. has a 1 year low of $11.08 and a 1 year high of $26.59. The firm’s 50-day simple moving average is $15.53 and its 200-day simple moving average is $16.08. The firm has a market cap of $1.65 billion, a PE ratio of -7.19 and a beta of 1.87.

MaxLinear (NASDAQ:MXL) last announced 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). MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. The firm had revenue of $81.10 million for the quarter, compared to analyst estimates of $80.40 million. During the same quarter in the previous year, the company earned ($0.02) EPS. The company’s quarterly revenue was down 40.2% compared to the same quarter last year. Equities analysts forecast that MaxLinear, Inc. will post -1.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MaxLinear

Hedge funds have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. lifted its holdings in MaxLinear by 5,114.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 126,863 shares of the semiconductor company’s stock worth $1,837,000 after acquiring an additional 124,430 shares during the last quarter. Quantbot Technologies LP lifted its holdings in shares of MaxLinear by 111.7% in the 3rd quarter. Quantbot Technologies LP now owns 66,363 shares of the semiconductor company’s stock worth $961,000 after purchasing an additional 35,018 shares during the last quarter. Two Sigma Advisers LP boosted its position in MaxLinear by 21.8% during the 3rd quarter. Two Sigma Advisers LP now owns 694,149 shares of the semiconductor company’s stock valued at $10,051,000 after purchasing an additional 124,300 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in MaxLinear during the 3rd quarter worth $16,696,000. Finally, Mirabella Financial Services LLP bought a new stake in MaxLinear in the third quarter valued at $551,000. Institutional investors and hedge funds own 90.79% of the company’s stock.

Analyst Upgrades and Downgrades

MXL has been the topic of a number of recent research reports. Susquehanna cut shares of MaxLinear from a “positive” rating to a “neutral” rating and reduced their target price for the stock from $26.00 to $15.00 in a research report on Tuesday, October 1st. Benchmark boosted their price objective on shares of MaxLinear from $22.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Needham & Company LLC restated a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. Craig Hallum cut their price target on MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Finally, Wells Fargo & Company started coverage on MaxLinear in a research note on Friday, November 22nd. They set an “equal weight” rating and a $14.00 price objective for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $23.14.

MaxLinear Company Profile

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.