Insider Selling: MaxLinear (NASDAQ:MXL) CEO Sells $20,227,200.00 in Stock

MaxLinear, Inc (NASDAQ:MXL) CEO Kishore Seendripu sold 240,000 shares of MaxLinear stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $84.28, for a total transaction of $20,227,200.00. Following the completion of the transaction, the chief executive officer directly owned 175,727 shares of the company’s stock, valued at $14,810,271.56. This trade represents a 57.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Monday, August 17th, Kishore Seendripu sold 351,454 shares of MaxLinear stock. The stock was sold at an average price of $85.95, for a total transaction of $30,207,471.30.

MaxLinear Stock Down 14.3%

Shares of NASDAQ:MXL traded down $12.13 during trading on Tuesday, reaching $72.63. 2,731,502 shares of the stock traded hands, compared to its average volume of 3,200,429. The stock has a market cap of $6.59 billion, a P/E ratio of -61.03 and a beta of 3.96. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.15 and a current ratio of 1.78. The stock has a 50-day moving average of $82.95 and a two-hundred day moving average of $55.90. MaxLinear, Inc has a 52-week low of $12.77 and a 52-week high of $128.30.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings data on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. MaxLinear had a positive return on equity of 2.24% and a negative net margin of 18.24%.The business had revenue of $168.85 million for the quarter, compared to analysts’ expectations of $164.64 million. During the same period in the prior year, the firm posted $0.02 EPS. The firm’s quarterly revenue was up 55.2% on a year-over-year basis. As a group, sell-side analysts expect that MaxLinear, Inc will post 0.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MXL. Susquehanna boosted their target price on MaxLinear from $45.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Roth Capital lifted their price target on shares of MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Benchmark initiated coverage on shares of MaxLinear in a report on Wednesday, May 27th. They set a “buy” rating and a $125.00 price objective for the company. Loop Capital upgraded shares of MaxLinear from a “hold” rating to a “buy” rating and raised their target price for the stock from $17.00 to $75.00 in a report on Wednesday, April 29th. Finally, Stifel Nicolaus lifted their target price on shares of MaxLinear from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $85.00.

Hedge Funds Weigh In On MaxLinear

Institutional investors have recently made changes to their positions in the business. Ratan Capital Management LP purchased a new stake in MaxLinear during the second quarter valued at approximately $13,774,000. Empowered Funds LLC bought a new position in MaxLinear in the 2nd quarter worth $335,000. Public Employees Retirement System of Ohio purchased a new position in MaxLinear during the second quarter valued at $147,000. Pure Financial Advisors LLC bought a new stake in MaxLinear during the second quarter valued at about $731,000. Finally, Corient Private Wealth LP purchased a new stake in MaxLinear in the second quarter worth about $264,000. Institutional investors own 90.79% of the company’s stock.

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.