MaxLinear (NASDAQ:MXL) Insider Steven Litchfield Sells 20,000 Shares

MaxLinear, Inc (NASDAQ:MXL) insider Steven Litchfield sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $17.50, for a total value of $350,000.00. Following the completion of the transaction, the insider directly owned 368,364 shares of the company’s stock, valued at $6,446,370. The trade was a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

MaxLinear Price Performance

Shares of NASDAQ:MXL traded down $0.67 during midday trading on Friday, hitting $15.72. 1,290,362 shares of the stock were exchanged, compared to its average volume of 1,194,840. MaxLinear, Inc has a twelve month low of $8.35 and a twelve month high of $20.82. The company has a current ratio of 1.34, a quick ratio of 0.92 and a debt-to-equity ratio of 0.27. The company has a 50 day moving average price of $18.40 and a 200-day moving average price of $16.92. The stock has a market cap of $1.36 billion, a P/E ratio of -9.95 and a beta of 1.70.

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

MaxLinear declared that its Board of Directors has initiated a stock buyback program on Monday, November 24th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the semiconductor company to purchase up to 5.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC grew its holdings in MaxLinear by 161.7% in the fourth quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 875 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of MaxLinear by 103.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock worth $25,000 after buying an additional 726 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in shares of MaxLinear in the 4th quarter worth $25,000. International Assets Investment Management LLC acquired a new stake in MaxLinear during the fourth quarter worth about $27,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of MaxLinear by 97.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 1,039 shares during the period. Institutional investors and hedge funds own 90.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MXL shares. 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 research report on Friday, January 30th. Benchmark upped their target price on shares of MaxLinear from $25.00 to $28.00 and gave the company a “buy” rating in a report on Friday, January 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, MaxLinear has an average rating of “Hold” and an average target price of $19.57.

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.