MaxLinear (NASDAQ:MXL) CEO Kishore Seendripu Sells 240,000 Shares

MaxLinear, Inc (NASDAQ:MXL) CEO Kishore Seendripu sold 240,000 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $84.28, for a total transaction of $20,227,200.00. Following the completion of the transaction, the chief executive officer directly owned 175,727 shares of the company’s stock, valued at approximately $14,810,271.56. The trade was a 57.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

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

MaxLinear Stock Performance

MaxLinear stock opened at $72.63 on Wednesday. The stock’s 50 day simple moving average is $82.95 and its two-hundred day simple moving average is $56.27. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.15 and a current ratio of 1.78. The stock has a market cap of $6.59 billion, a price-to-earnings ratio of -61.03 and a beta of 3.96. MaxLinear, Inc has a fifty-two week low of $12.77 and a fifty-two week high of $128.30.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MXL. Pure Financial Advisors LLC bought a new stake in shares of MaxLinear during the fourth quarter valued at approximately $1,424,000. HighTower Advisors LLC lifted its position in MaxLinear by 1.7% in the 4th quarter. HighTower Advisors LLC now owns 656,319 shares of the semiconductor company’s stock valued at $11,440,000 after acquiring an additional 10,948 shares in the last quarter. Pictet Asset Management Holding SA bought a new position in MaxLinear in the 4th quarter valued at approximately $190,000. Assenagon Asset Management S.A. lifted its position in MaxLinear by 110.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 221,266 shares of the semiconductor company’s stock valued at $28,329,000 after acquiring an additional 116,339 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in MaxLinear by 4.8% during the 4th 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 last quarter. Hedge funds and other institutional investors own 90.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MXL. Roth Capital increased their price objective on MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Wells Fargo & Company boosted their target price on shares of MaxLinear from $42.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, July 20th. Susquehanna lifted their price target on shares of MaxLinear from $45.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Wall Street Zen raised shares of MaxLinear from a “hold” rating to a “buy” rating in a research note on Sunday, July 26th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a report on Friday, July 17th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.