MaxLinear (NASDAQ:MXL) Insider Connie Kwong Sells 35,000 Shares of Stock

MaxLinear, Inc (NASDAQ:MXL) insider Connie Kwong sold 35,000 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $96.96, for a total transaction of $3,393,600.00. Following the completion of the transaction, the insider directly owned 13,947 shares in the company, valued at approximately $1,352,301.12. The trade was a 71.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

MaxLinear Stock Performance

MXL opened at $99.83 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.12 and a debt-to-equity ratio of 0.27. The company has a market cap of $8.94 billion, a price-to-earnings ratio of -65.68 and a beta of 3.95. The company’s 50 day moving average is $27.43 and its 200 day moving average is $20.85. MaxLinear, Inc has a 12-month low of $10.96 and a 12-month high of $101.30.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings data on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. The company had revenue of $137.19 million for the quarter, compared to the consensus estimate of $137.15 million. MaxLinear had a negative net margin of 25.96% and a negative return on equity of 2.33%. The firm’s revenue was up 43.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.05) earnings per share. On average, equities research analysts predict that MaxLinear, Inc will post 0.52 EPS for the current year.

Hedge Funds Weigh In On MaxLinear

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Summit Global Investments increased its holdings in shares of MaxLinear by 15.4% in the 1st quarter. Summit Global Investments now owns 66,942 shares of the semiconductor company’s stock worth $1,164,000 after buying an additional 8,935 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of MaxLinear by 7.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,689,692 shares of the semiconductor company’s stock worth $29,376,000 after buying an additional 113,058 shares during the last quarter. KBC Group NV bought a new stake in shares of MaxLinear in the 1st quarter worth about $35,000. Illinois Municipal Retirement Fund increased its holdings in shares of MaxLinear by 22.4% in the 1st quarter. Illinois Municipal Retirement Fund now owns 43,111 shares of the semiconductor company’s stock worth $750,000 after buying an additional 7,880 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of MaxLinear by 0.9% in the 1st quarter. Principal Financial Group Inc. now owns 395,317 shares of the semiconductor company’s stock worth $6,875,000 after buying an additional 3,637 shares during the last quarter. 90.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MXL shares. Stifel Nicolaus upped their price target on shares of MaxLinear from $34.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Benchmark upped their price target on shares of MaxLinear from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Susquehanna reiterated a “neutral” rating and issued a $30.00 price target on shares of MaxLinear in a research report on Monday, April 20th. Loop Capital upgraded shares of MaxLinear from a “hold” rating to a “buy” rating and upped their price target for the stock from $17.00 to $75.00 in a research report on Wednesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $40.00 price target on shares of MaxLinear in a research report on Friday, April 24th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, MaxLinear presently has a consensus rating of “Hold” and a consensus price target of $44.20.

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.