MaxLinear, Inc. (NASDAQ:MXL) Director Ted L. Tewksbury III Sells 5,800 Shares

MaxLinear, Inc. (NASDAQ:MXL) Director Ted L. Tewksbury III sold 5,800 shares of MaxLinear stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $15.36, for a total transaction of $89,088.00. Following the sale, the director now owns 69,717 shares in the company, valued at approximately $1,070,853.12. This represents a 7.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

MaxLinear Stock Up 2.1 %

Shares of MaxLinear stock opened at $15.87 on Tuesday. The stock’s 50-day moving average is $14.40 and its 200 day moving average is $16.21. MaxLinear, Inc. has a one year low of $11.08 and a one year high of $26.59. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -5.89 and a beta of 1.85. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.95 and a quick ratio of 1.38.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). The business had revenue of $81.10 million for the quarter, compared to the consensus estimate of $80.40 million. MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%. MaxLinear’s quarterly revenue was down 40.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.02) earnings per share. Equities research analysts anticipate that MaxLinear, Inc. will post -1.66 EPS for the current year.

Institutional Investors Weigh In On MaxLinear

A number of large investors have recently bought and sold shares of MXL. Vanguard Group Inc. raised its holdings in shares of MaxLinear by 5.8% during the first quarter. Vanguard Group Inc. now owns 12,253,823 shares of the semiconductor company’s stock valued at $228,779,000 after purchasing an additional 667,550 shares during the period. State Street Corp grew its stake in shares of MaxLinear by 5.1% in the 3rd quarter. State Street Corp now owns 4,123,419 shares of the semiconductor company’s stock valued at $59,707,000 after buying an additional 198,791 shares during the period. Bank of New York Mellon Corp increased its position in MaxLinear by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,535,449 shares of the semiconductor company’s stock valued at $51,064,000 after buying an additional 128,585 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in MaxLinear by 10.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,071,183 shares of the semiconductor company’s stock worth $41,714,000 after buying an additional 192,021 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in MaxLinear by 0.4% in the third quarter. Geode Capital Management LLC now owns 1,805,722 shares of the semiconductor company’s stock worth $26,152,000 after acquiring an additional 6,420 shares in the last quarter. 90.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MXL. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. Benchmark reaffirmed a “buy” rating and set a $22.00 target price on shares of MaxLinear in a research report on Thursday, October 24th. Wells Fargo & Company assumed coverage on MaxLinear in a research report on Friday. They issued an “equal weight” rating and a $14.00 price target on the stock. Craig Hallum lowered their price objective on MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Finally, Susquehanna cut MaxLinear from a “positive” rating to a “neutral” rating and reduced their target price for the company from $26.00 to $15.00 in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $22.29.

MaxLinear Company Profile

MaxLinear, Inc provides communications systems-on-chip solutions worldwide. Its products integrate various portions of a high-speed communication system, including radio frequency, high-performance analog, mixed-signal, digital signal processing, security engines, data compression and networking layers, and power management.