MaxLinear (NYSE:MXL) Shares Gap Up Following Insider Buying Activity

MaxLinear, Inc. (NYSE:MXL) shares gapped up prior to trading on Wednesday after an insider bought additional shares in the company. The stock had previously closed at $12.90, but opened at $13.88. MaxLinear shares last traded at $13.76, with a volume of 202,303 shares changing hands.

Specifically, CEO Kishore Seendripu purchased 108,303 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was acquired at an average cost of $12.94 per share, with a total value of $1,401,440.82. Following the completion of the purchase, the chief executive officer now directly owns 531,937 shares in the company, valued at approximately $6,883,264.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

MXL has been the topic of a number of recent research reports. Needham & Company LLC lowered shares of MaxLinear from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Benchmark lowered their price target on shares of MaxLinear from $28.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Northland Securities lowered their price objective on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Stifel Nicolaus lifted their price target on shares of MaxLinear from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, Susquehanna cut their price objective on shares of MaxLinear from $30.00 to $26.00 and set a “positive” rating on the stock in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, MaxLinear has a consensus rating of “Hold” and a consensus price target of $24.70.

MaxLinear Stock Up 5.2 %

The stock has a 50 day moving average of $19.80 and a 200-day moving average of $19.94. The firm has a market capitalization of $1.13 billion, a P/E ratio of -6.83 and a beta of 1.84. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.59 and a current ratio of 2.09.

MaxLinear (NYSE:MXL) last announced its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.06). The company had revenue of $92.00 million for the quarter, compared to the consensus estimate of $100.25 million. MaxLinear had a negative net margin of 42.38% and a negative return on equity of 12.39%. The company’s quarterly revenue was down 50.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 earnings per share. Research analysts predict that MaxLinear, Inc. will post -1.6 earnings per share for the current fiscal year.

Institutional Trading of MaxLinear

A number of institutional investors have recently made changes to their positions in MXL. Nisa Investment Advisors LLC raised its holdings in MaxLinear by 8.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,310 shares of the semiconductor company’s stock worth $150,000 after purchasing an additional 490 shares in the last quarter. Simplicity Wealth LLC increased its holdings in shares of MaxLinear by 3.1% during the second quarter. Simplicity Wealth LLC now owns 19,283 shares of the semiconductor company’s stock valued at $388,000 after acquiring an additional 579 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of MaxLinear by 2.8% during the fourth quarter. New York State Common Retirement Fund now owns 31,045 shares of the semiconductor company’s stock valued at $738,000 after buying an additional 840 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of MaxLinear by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 15,304 shares of the semiconductor company’s stock valued at $286,000 after purchasing an additional 1,061 shares during the period. Finally, Louisiana State Employees Retirement System grew its stake in shares of MaxLinear by 3.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 38,000 shares of the semiconductor company’s stock valued at $765,000 after acquiring an additional 1,100 shares during the period. Hedge funds and other institutional investors own 90.79% of the company’s stock.

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.