MaxLinear (NASDAQ:MXL) Insider Steven Litchfield Sells 20,000 Shares

MaxLinear, Inc (NASDAQ:MXL) insider Steven Litchfield sold 20,000 shares of the firm’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $15.68, for a total value of $313,600.00. Following the sale, the insider owned 343,435 shares of the company’s stock, valued at $5,385,060.80. This represents a 5.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

MaxLinear Trading Down 4.1%

NASDAQ:MXL opened at $15.72 on Friday. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of -9.95 and a beta of 1.70. MaxLinear, Inc has a one year low of $8.35 and a one year high of $20.82. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.92 and a current ratio of 1.34. The business’s 50-day simple moving average is $18.36 and its 200 day simple moving average is $16.92.

MaxLinear (NASDAQ:MXL) last posted its quarterly earnings data on Thursday, January 29th. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. The company had revenue of $136.44 million for the quarter, compared to the consensus estimate of $134.82 million. MaxLinear had a negative return on equity of 6.95% and a negative net margin of 29.23%.MaxLinear’s revenue for the quarter was up 48.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.09) EPS. As a group, sell-side analysts predict that MaxLinear, Inc will post -0.37 earnings per share for the current fiscal year.

MaxLinear announced that its Board of Directors has initiated a share repurchase program on Monday, November 24th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the semiconductor company to buy up to 5.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On MaxLinear

A number of hedge funds and other institutional investors have recently bought and sold shares of MXL. Royal Bank of Canada grew its holdings in shares of MaxLinear by 3.1% during the first quarter. Royal Bank of Canada now owns 72,664 shares of the semiconductor company’s stock valued at $789,000 after purchasing an additional 2,204 shares during the last quarter. AQR Capital Management LLC boosted its position in MaxLinear by 56.0% during the 1st quarter. AQR Capital Management LLC now owns 296,297 shares of the semiconductor company’s stock valued at $3,218,000 after purchasing an additional 106,355 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in MaxLinear by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,437 shares of the semiconductor company’s stock worth $515,000 after buying an additional 2,043 shares during the last quarter. Goldman Sachs Group Inc. increased its position in MaxLinear by 0.4% in the first quarter. Goldman Sachs Group Inc. now owns 535,230 shares of the semiconductor company’s stock worth $5,813,000 after buying an additional 2,039 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of MaxLinear by 23.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 182,362 shares of the semiconductor company’s stock valued at $1,980,000 after acquiring an additional 35,152 shares during the period. 90.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MXL has been the subject of several research analyst reports. Benchmark boosted their target price 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. Wells Fargo & Company upped their price objective on MaxLinear from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Friday, January 30th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MaxLinear in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $19.57.

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.