MaxLinear (NASDAQ:MXL) Trading Down 9.1% Following Insider Selling

Shares of MaxLinear, Inc (NASDAQ:MXL) dropped 9.1% during trading on Friday after an insider sold shares in the company. The company traded as low as $92.80 and last traded at $88.9040. Approximately 603,878 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 2,789,761 shares. The stock had previously closed at $97.76.

Specifically, Director Thomas E. Pardun sold 11,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $105.00, for a total value of $1,155,000.00. Following the completion of the sale, the director directly owned 55,252 shares in the company, valued at $5,801,460. The trade was a 16.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MXL shares. Northland Securities set a $55.00 price objective on MaxLinear in a research report on Friday, April 24th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $40.00 target price on shares of MaxLinear in a research report on Friday, April 24th. Loop Capital upgraded shares of MaxLinear from a “hold” rating to a “buy” rating and upped their price target for the company from $17.00 to $75.00 in a research note on Wednesday, April 29th. Wells Fargo & Company raised their price target on shares of MaxLinear from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Friday, January 30th. Finally, Susquehanna reiterated a “neutral” rating and issued a $30.00 price objective on shares of MaxLinear in a research note on Monday, April 20th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $53.90.

MaxLinear Stock Performance

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 $7.76 billion, a P/E ratio of -56.62 and a beta of 3.95. The company has a 50 day moving average price of $51.02 and a 200-day moving average price of $29.29.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its holdings 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 acquiring an additional 217 shares in the last quarter. Captrust Financial Advisors lifted its holdings in shares of MaxLinear by 4.3% in the 4th quarter. Captrust Financial Advisors now owns 14,074 shares of the semiconductor company’s stock worth $245,000 after purchasing an additional 577 shares in the last quarter. State of Alaska Department of Revenue grew its position in MaxLinear by 1.4% in the 4th quarter. State of Alaska Department of Revenue now owns 45,677 shares of the semiconductor company’s stock valued at $795,000 after purchasing an additional 632 shares during the period. ProShare Advisors LLC grew its position in MaxLinear by 4.3% in the 4th quarter. ProShare Advisors LLC now owns 16,048 shares of the semiconductor company’s stock valued at $280,000 after purchasing an additional 664 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in MaxLinear by 103.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 726 shares in the last quarter. Institutional investors own 90.79% of the company’s stock.

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.