MaxLinear (NASDAQ:MXL) CEO Sells $20,227,200.00 in Stock

MaxLinear, Inc (NASDAQ:MXL) CEO Kishore Seendripu sold 240,000 shares of MaxLinear stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $84.28, for a total value of $20,227,200.00. Following the transaction, the chief executive officer owned 175,727 shares of the company’s stock, valued at approximately $14,810,271.56. This represents a 57.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Kishore Seendripu also recently made the following trade(s):

• On Monday, August 17th, Kishore Seendripu sold 351,454 shares of MaxLinear stock. The shares were sold at an average price of $85.95, for a total value of $30,207,471.30.

MaxLinear Trading Down 1.7%

MaxLinear stock opened at $65.28 on Friday. The firm has a market cap of $5.92 billion, a PE ratio of -54.86 and a beta of 3.95. MaxLinear, Inc has a 12 month low of $12.77 and a 12 month high of $128.30. The stock’s 50 day simple moving average is $82.53 and its two-hundred day simple moving average is $56.94. The company has a current ratio of 1.78, a quick ratio of 1.15 and a debt-to-equity ratio of 0.26.

MaxLinear (NASDAQ:MXL) last posted its earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. MaxLinear had a negative net margin of 18.24% and a positive return on equity of 2.24%. The firm had revenue of $168.85 million during the quarter, compared to analysts’ expectations of $164.64 million. During the same period in the previous year, the business posted $0.02 EPS. The business’s revenue was up 55.2% compared to the same quarter last year. Analysts anticipate that MaxLinear, Inc will post 0.78 earnings per share for the current year.

Hedge Funds Weigh In On MaxLinear

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MXL. Royal Bank of Canada grew its position in shares of MaxLinear by 3.1% in the first quarter. Royal Bank of Canada now owns 72,664 shares of the semiconductor company’s stock valued at $789,000 after purchasing an additional 2,204 shares during the period. AQR Capital Management LLC raised its position in shares of MaxLinear by 56.0% during 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in 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 valued at $515,000 after buying an additional 2,043 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in MaxLinear by 0.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 535,230 shares of the semiconductor company’s stock valued at $5,813,000 after buying an additional 2,039 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in 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 buying an additional 35,152 shares during the last quarter. 90.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on MXL shares. Roth Capital raised their target price on MaxLinear from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Needham & Company LLC upped their price target on MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Northland Securities set a $110.00 price target on MaxLinear in a research report on Wednesday, June 3rd. Stifel Nicolaus raised their price objective on MaxLinear from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, July 24th. Finally, Susquehanna boosted their price objective on MaxLinear from $45.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $85.00.

MaxLinear Company Profile

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.