Insider Selling: MaxLinear (NASDAQ:MXL) Insider Sells 4,929 Shares of Stock

MaxLinear, Inc (NASDAQ:MXL) insider Steven Litchfield sold 4,929 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $16.81, for a total value of $82,856.49. Following the completion of the sale, the insider directly owned 363,435 shares in the company, valued at $6,109,342.35. This represents a 1.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

MaxLinear Stock Performance

NASDAQ MXL traded down $0.67 on Friday, hitting $15.72. The stock had a trading volume of 1,290,362 shares, compared to its average volume of 1,194,840. The company’s 50-day moving average is $18.40 and its two-hundred day moving average is $16.92. MaxLinear, Inc has a one year low of $8.35 and a one year high of $20.82. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of -9.95 and a beta of 1.70. The company has a quick ratio of 0.92, a current ratio of 1.34 and a debt-to-equity ratio of 0.27.

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

MaxLinear declared that its board has initiated a stock 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 repurchase up to 5.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On MaxLinear

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of MaxLinear by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 13,326,387 shares of the semiconductor company’s stock valued at $232,279,000 after purchasing an additional 605,903 shares during the period. The Manufacturers Life Insurance Company raised its holdings in MaxLinear by 27.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,889,111 shares of the semiconductor company’s stock worth $41,054,000 after buying an additional 628,719 shares during the period. Invesco Ltd. lifted its stake in MaxLinear by 419.9% during the fourth quarter. Invesco Ltd. now owns 2,149,589 shares of the semiconductor company’s stock valued at $37,467,000 after buying an additional 1,736,141 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of MaxLinear by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 2,038,144 shares of the semiconductor company’s stock worth $35,531,000 after buying an additional 28,548 shares during the period. Finally, Marshall Wace LLP increased its position in shares of MaxLinear by 31.8% in the third quarter. Marshall Wace LLP now owns 1,826,259 shares of the semiconductor company’s stock worth $29,366,000 after acquiring an additional 441,088 shares in the last quarter. 90.79% of the stock is currently owned by institutional investors and hedge funds.

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.