Connie Kwong Sells 15,050 Shares of MaxLinear (NASDAQ:MXL) Stock

MaxLinear, Inc (NASDAQ:MXL) insider Connie Kwong sold 15,050 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $51.29, for a total value of $771,914.50. Following the completion of the transaction, the insider directly owned 53,065 shares in the company, valued at $2,721,703.85. This trade represents a 22.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

MaxLinear Stock Performance

MXL stock opened at $67.52 on Thursday. The stock has a market capitalization of $5.84 billion, a PE ratio of -44.42 and a beta of 1.70. MaxLinear, Inc has a 12-month low of $9.52 and a 12-month high of $71.28. The company has a current ratio of 1.70, a quick ratio of 1.12 and a debt-to-equity ratio of 0.27. The stock’s 50 day simple moving average is $22.57 and its 200 day simple moving average is $19.09.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings data on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.04. The business had revenue of $137.19 million for the quarter, compared to analysts’ expectations of $137.15 million. MaxLinear had a negative return on equity of 2.33% and a negative net margin of 25.96%.The firm’s quarterly revenue was up 43.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.05) EPS. As a group, research analysts forecast that MaxLinear, Inc will post -0.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MXL has been the topic of several research analyst reports. Wells Fargo & Company increased their price target on MaxLinear from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. Roth Mkm raised MaxLinear from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $40.00 price target on shares of MaxLinear in a report on Friday, April 24th. Susquehanna reissued a “neutral” rating and set a $30.00 price target on shares of MaxLinear in a report on Monday, April 20th. Finally, Northland Securities set a $55.00 price target on MaxLinear in a report on Friday, April 24th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, MaxLinear currently has an average rating of “Hold” and a consensus target price of $44.20.

Institutional Investors Weigh In On MaxLinear

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

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.