Steven Litchfield Sells 20,000 Shares of MaxLinear (NASDAQ:MXL) Stock

MaxLinear, Inc (NASDAQ:MXL) insider Steven Litchfield sold 20,000 shares of the company’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $15.68, for a total transaction of $313,600.00. Following the sale, the insider directly owned 343,435 shares of the company’s stock, valued at approximately $5,385,060.80. This represents a 5.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

MaxLinear Stock Performance

MXL traded down $0.67 during trading on Friday, hitting $15.72. The stock had a trading volume of 1,290,362 shares, compared to its average volume of 1,194,840. The firm has a market cap of $1.36 billion, a PE ratio of -9.95 and a beta of 1.70. MaxLinear, Inc has a 12 month low of $8.35 and a 12 month high of $20.82. The company has a current ratio of 1.34, a quick ratio of 0.92 and a debt-to-equity ratio of 0.27. The company has a 50 day simple moving average of $18.40 and a 200-day simple moving average of $16.92.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings results on Thursday, January 29th. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The company had revenue of $136.44 million during the quarter, compared to analysts’ expectations of $134.82 million. MaxLinear had a negative net margin of 29.23% and a negative return on equity of 6.95%. The business’s quarterly revenue was up 48.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.09) earnings per share. Analysts expect that MaxLinear, Inc will post -0.37 EPS for the current year.

MaxLinear announced that its board has authorized a stock repurchase plan on Monday, November 24th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the semiconductor company to repurchase up to 5.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MXL shares. Wells Fargo & Company lifted their target price on MaxLinear from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Friday, January 30th. Benchmark raised their price objective on shares of MaxLinear from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, January 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, MaxLinear currently has an average rating of “Hold” and a consensus target price of $19.57.

Hedge Funds Weigh In On MaxLinear

Several institutional investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors grew its stake in MaxLinear by 4.3% during the fourth quarter. Captrust Financial Advisors now owns 14,074 shares of the semiconductor company’s stock worth $245,000 after buying an additional 577 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of MaxLinear by 1.4% during the fourth quarter. State of Alaska Department of Revenue now owns 45,677 shares of the semiconductor company’s stock worth $795,000 after purchasing an additional 632 shares during the last quarter. ProShare Advisors LLC lifted its position in MaxLinear by 4.3% during the 4th quarter. ProShare Advisors LLC now owns 16,048 shares of the semiconductor company’s stock worth $280,000 after buying an additional 664 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of MaxLinear by 103.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 726 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in shares of MaxLinear by 3.5% in the third quarter. Amalgamated Bank now owns 23,210 shares of the semiconductor company’s stock valued at $373,000 after purchasing an additional 775 shares in the last quarter. 90.79% of the stock is owned by 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.