MaxLinear (NASDAQ:MXL) Trading Down 9.1% on Insider Selling

Shares of MaxLinear, Inc (NASDAQ:MXL) dropped 9.1% during mid-day trading on Friday following insider selling activity. The stock traded as low as $92.80 and last traded at $88.9040. Approximately 603,878 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 2,789,761 shares. The stock had previously closed at $97.76.

Specifically, Director Thomas E. Pardun sold 11,000 shares of MaxLinear stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $105.00, for a total transaction of $1,155,000.00. Following the completion of the transaction, the director directly owned 55,252 shares in the company, valued at $5,801,460. This trade represents a 16.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Roth Mkm upgraded shares of MaxLinear from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Friday, April 24th. Stifel Nicolaus boosted their price objective on MaxLinear from $34.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Benchmark assumed coverage on MaxLinear in a research note on Wednesday. They issued a “buy” rating and a $125.00 price objective for the company. Northland Securities set a $55.00 target price on MaxLinear in a report on Friday, April 24th. Finally, Loop Capital raised MaxLinear from a “hold” rating to a “buy” rating and lifted their target price for the company from $17.00 to $75.00 in a research report on Wednesday, April 29th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, MaxLinear currently has an average rating of “Hold” and a consensus price target of $53.90.

MaxLinear Stock Performance

The company’s 50-day moving average is $51.02 and its two-hundred day moving average is $29.29. The company has a quick ratio of 1.12, a current ratio of 1.70 and a debt-to-equity ratio of 0.27. The company has a market cap of $7.76 billion, a P/E ratio of -56.62 and a beta of 3.95.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings data on Thursday, April 23rd. The semiconductor company reported $0.22 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 net margin of 25.96% and a negative return on equity of 2.33%. The company’s revenue for the quarter was up 43.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. Equities analysts predict that MaxLinear, Inc will post 0.52 EPS for the current year.

Institutional Investors Weigh In On MaxLinear

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in MaxLinear by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 13,326,387 shares of the semiconductor company’s stock valued at $232,279,000 after purchasing an additional 605,903 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of MaxLinear by 27.8% in the second quarter. The Manufacturers Life Insurance Company now owns 2,889,111 shares of the semiconductor company’s stock valued at $41,054,000 after buying an additional 628,719 shares during the period. Invesco Ltd. lifted its position in shares of MaxLinear by 419.9% during the 4th quarter. Invesco Ltd. now owns 2,149,589 shares of the semiconductor company’s stock valued at $37,467,000 after buying an additional 1,736,141 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of MaxLinear by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 2,038,144 shares of the semiconductor company’s stock worth $35,531,000 after acquiring an additional 28,548 shares during the period. Finally, Marshall Wace LLP grew its stake in shares of MaxLinear by 31.8% during the 3rd quarter. Marshall Wace LLP now owns 1,826,259 shares of the semiconductor company’s stock worth $29,366,000 after acquiring an additional 441,088 shares during the period. Institutional investors own 90.79% of the company’s stock.

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.