Brendan Walsh Sells 25,018 Shares of MaxLinear, Inc (MXL) Stock
MaxLinear, Inc (NYSE:MXL) VP Brendan Walsh sold 25,018 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $28.00, for a total transaction of $700,504.00. Following the transaction, the vice president now directly owns 155,441 shares in the company, valued at $4,352,348. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
MaxLinear, Inc (NYSE:MXL) traded down $0.89 during mid-day trading on Thursday, reaching $27.11. 579,400 shares of the company’s stock traded hands, compared to its average volume of 479,129. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.23 and a quick ratio of 1.58. The company has a market capitalization of $1,800.00, a P/E ratio of 104.27 and a beta of 0.47. MaxLinear, Inc has a 12 month low of $20.38 and a 12 month high of $32.47.
MaxLinear (NYSE:MXL) last posted its earnings results on Tuesday, November 7th. The semiconductor company reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.06. The company had revenue of $113.58 million during the quarter, compared to the consensus estimate of $115.77 million. MaxLinear had a net margin of 4.73% and a return on equity of 20.96%. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.43 earnings per share. sell-side analysts expect that MaxLinear, Inc will post 1.05 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of MXL. Schwab Charles Investment Management Inc. grew its position in MaxLinear by 7.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 242,533 shares of the semiconductor company’s stock worth $6,765,000 after acquiring an additional 15,960 shares in the last quarter. Legal & General Group Plc grew its position in MaxLinear by 610.0% in the second quarter. Legal & General Group Plc now owns 95,673 shares of the semiconductor company’s stock worth $2,669,000 after acquiring an additional 82,198 shares in the last quarter. Comerica Bank bought a new stake in MaxLinear in the second quarter worth approximately $1,479,000. BNP Paribas Arbitrage SA grew its position in MaxLinear by 2,067.0% in the second quarter. BNP Paribas Arbitrage SA now owns 17,444 shares of the semiconductor company’s stock worth $487,000 after acquiring an additional 16,639 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its position in MaxLinear by 86.0% in the second quarter. State Board of Administration of Florida Retirement System now owns 37,111 shares of the semiconductor company’s stock worth $1,035,000 after acquiring an additional 17,164 shares in the last quarter. 88.64% of the stock is owned by institutional investors.
MXL has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $32.00 price objective on shares of MaxLinear in a research report on Wednesday, November 8th. Zacks Investment Research raised shares of MaxLinear from a “hold” rating to a “strong-buy” rating and set a $30.00 price objective on the stock in a research report on Tuesday, November 14th. Finally, Roth Capital reissued a “buy” rating and issued a $33.00 target price on shares of MaxLinear in a research report on Friday, December 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $31.60.
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MaxLinear, Inc is a provider of radio frequency (RF) and mixed-signal integrated circuits for cable and satellite broadband communications and the connected home, and wired and wireless infrastructure markets. The Company’s RF receiver products capture and process digital and analog broadband signals to be decoded for various applications.
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