MaxLinear (NASDAQ:MXL) Stock Price Down 5.7% Following Insider Selling

MaxLinear, Inc. (NASDAQ:MXLGet Free Report)’s share price fell 5.7% on Tuesday following insider selling activity. The company traded as low as $19.69 and last traded at $19.71. 126,803 shares were traded during trading, a decline of 88% from the average session volume of 1,037,065 shares. The stock had previously closed at $20.90.

Specifically, insider Steven G. Litchfield sold 32,000 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $20.35, for a total transaction 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 represents a 8.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Upgrades and Downgrades

Several research firms recently commented on MXL. Wells Fargo & Company initiated coverage on shares of MaxLinear in a research note on Friday, November 22nd. They set an “equal weight” rating and a $14.00 price objective for the company. Benchmark upped their price target on MaxLinear from $22.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Susquehanna cut MaxLinear from a “positive” rating to a “neutral” rating and lowered their price objective for the stock from $26.00 to $15.00 in a research report on Tuesday, October 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a research report on Thursday, October 24th. Finally, Craig Hallum lowered their price target on MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $23.14.

Read Our Latest Report on MaxLinear

MaxLinear Stock Performance

The firm’s fifty day moving average is $15.53 and its 200-day moving average is $16.08. The stock has a market capitalization of $1.65 billion, a PE ratio of -7.19 and a beta of 1.87. The company has a current ratio of 1.95, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22.

MaxLinear (NASDAQ:MXLGet Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.04). MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%. The firm had revenue of $81.10 million for the quarter, compared to analyst estimates of $80.40 million. During the same period last year, the firm earned ($0.02) EPS. The company’s quarterly revenue was down 40.2% on a year-over-year basis. As a group, research analysts anticipate that MaxLinear, Inc. will post -1.66 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. grew its position in shares of 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 valued at $1,837,000 after purchasing an additional 124,430 shares during the last quarter. Quantbot Technologies LP grew its holdings in MaxLinear by 111.7% during the 3rd quarter. Quantbot Technologies LP now owns 66,363 shares of the semiconductor company’s stock valued at $961,000 after buying an additional 35,018 shares during the last quarter. Two Sigma Advisers LP increased its position in MaxLinear by 21.8% during the third quarter. Two Sigma Advisers LP now owns 694,149 shares of the semiconductor company’s stock worth $10,051,000 after buying an additional 124,300 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of MaxLinear in the third quarter worth $16,696,000. Finally, Mirabella Financial Services LLP purchased a new stake in shares of MaxLinear in the third quarter valued at $551,000. Institutional investors and hedge funds own 90.79% of the company’s stock.

About MaxLinear

(Get Free Report)

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.

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