MaxLinear (NASDAQ:MXL) CEO Sells $30,207,471.30 in Stock

MaxLinear, Inc (NASDAQ:MXL) CEO Kishore Seendripu sold 351,454 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $85.95, for a total value of $30,207,471.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Friday, August 14th, Kishore Seendripu sold 240,000 shares of MaxLinear stock. The shares were sold at an average price of $84.28, for a total value of $20,227,200.00.

MaxLinear Price Performance

Shares of MXL stock opened at $65.28 on Friday. The business’s fifty day moving average is $82.53 and its 200 day moving average is $56.94. The company has a quick ratio of 1.15, a current ratio of 1.78 and a debt-to-equity ratio of 0.26. The stock has a market cap of $5.92 billion, a price-to-earnings ratio of -54.86 and a beta of 3.95. MaxLinear, Inc has a twelve month low of $12.77 and a twelve month high of $128.30.

MaxLinear (NASDAQ:MXL) last announced its earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $164.64 million. During the same quarter in the previous year, the business posted $0.02 EPS. The company’s quarterly revenue was up 55.2% on a year-over-year basis. Research analysts expect that MaxLinear, Inc will post 0.78 EPS for the current fiscal year.

Hedge Funds Weigh In On MaxLinear

A number of hedge funds have recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its stake in MaxLinear by 161.7% during the 4th quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 875 shares during 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 purchasing an additional 726 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of MaxLinear during the fourth quarter valued at $25,000. International Assets Investment Management LLC bought a new position in shares of MaxLinear during the fourth quarter valued at $27,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of MaxLinear by 16.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 217 shares during the last quarter. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Loop Capital raised MaxLinear from a “hold” rating to a “buy” rating and raised their price objective for the company from $17.00 to $75.00 in a research report on Wednesday, April 29th. Susquehanna boosted their target price on MaxLinear from $45.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of MaxLinear in a research note on Friday, July 17th. Wall Street Zen upgraded MaxLinear from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. Finally, Needham & Company LLC lifted their price target on MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, MaxLinear presently has a consensus rating of “Hold” and an average target price 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.