Thomas Pardun Sells 11,000 Shares of MaxLinear (NASDAQ:MXL) Stock

MaxLinear, Inc (NASDAQ:MXL) Director Thomas Pardun sold 11,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $105.00, for a total value of $1,155,000.00. Following the completion of the transaction, the director owned 55,252 shares in the company, valued at approximately $5,801,460. The trade was a 16.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

MaxLinear Stock Down 3.3%

NASDAQ:MXL traded down $3.34 on Thursday, hitting $97.76. The stock had a trading volume of 3,863,601 shares, compared to its average volume of 2,814,807. The business’s fifty day moving average is $49.40 and its 200 day moving average is $28.70. The company has a market cap of $8.75 billion, a PE ratio of -64.32 and a beta of 3.95. The company has a quick ratio of 1.12, a current ratio of 1.70 and a debt-to-equity ratio of 0.27. MaxLinear, Inc has a 52 week low of $10.96 and a 52 week high of $106.28.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.04. The business had revenue of $137.19 million for the quarter, compared to analyst estimates of $137.15 million. MaxLinear had a negative return on equity of 2.33% and a negative net margin of 25.96%.The company’s quarterly revenue was up 43.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) earnings per share. On average, equities research analysts expect that MaxLinear, Inc will post 0.52 EPS for the current fiscal year.

Institutional Trading of MaxLinear

A number of institutional investors and hedge funds have recently modified their holdings of MXL. Royal Bank of Canada increased its position in MaxLinear by 3.1% in the first quarter. Royal Bank of Canada now owns 72,664 shares of the semiconductor company’s stock worth $789,000 after buying an additional 2,204 shares during the last quarter. AQR Capital Management LLC increased its position in MaxLinear by 56.0% in the first quarter. AQR Capital Management LLC now owns 296,297 shares of the semiconductor company’s stock worth $3,218,000 after buying an additional 106,355 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in MaxLinear by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,437 shares of the semiconductor company’s stock worth $515,000 after buying an additional 2,043 shares during the last quarter. Goldman Sachs Group Inc. increased its position in MaxLinear by 0.4% in the first quarter. Goldman Sachs Group Inc. now owns 535,230 shares of the semiconductor company’s stock worth $5,813,000 after buying an additional 2,039 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in MaxLinear by 23.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 182,362 shares of the semiconductor company’s stock worth $1,980,000 after buying an additional 35,152 shares during the last quarter. 90.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on MXL. Wells Fargo & Company raised their target price on MaxLinear from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. Needham & Company LLC upgraded MaxLinear from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Friday, April 24th. Susquehanna restated a “neutral” rating and issued a $30.00 target price on shares of MaxLinear in a report on Monday, April 20th. Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a report on Tuesday, April 21st. Finally, Stifel Nicolaus raised their target price on MaxLinear from $34.00 to $49.00 and gave the company a “buy” rating in a report on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $44.20.

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.