MaxLinear, Inc. (NASDAQ:MXL) VP Sells $93,940.00 in Stock

MaxLinear, Inc. (NASDAQ:MXL) VP William Torgerson sold 6,100 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $15.40, for a total value of $93,940.00. Following the completion of the transaction, the vice president now owns 179,262 shares in the company, valued at approximately $2,760,634.80. The trade was a 3.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

MaxLinear Stock Performance

Shares of MXL stock opened at $14.30 on Friday. MaxLinear, Inc. has a 52 week low of $11.08 and a 52 week high of $26.59. The firm’s 50-day simple moving average is $14.29 and its two-hundred day simple moving average is $16.43. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -5.26 and a beta of 1.85. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.95.

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

Institutional Investors Weigh In On MaxLinear

Several large investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its position in MaxLinear by 47.6% during the third quarter. Barclays PLC now owns 335,804 shares of the semiconductor company’s stock worth $4,860,000 after purchasing an additional 108,346 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of MaxLinear by 4,298.1% in the third quarter. Public Employees Retirement System of Ohio now owns 20,979 shares of the semiconductor company’s stock worth $304,000 after acquiring an additional 20,502 shares during the period. Orion Portfolio Solutions LLC grew its position in shares of MaxLinear by 35.7% in the third quarter. Orion Portfolio Solutions LLC now owns 32,259 shares of the semiconductor company’s stock valued at $467,000 after purchasing an additional 8,495 shares in the last quarter. Two Sigma Advisers LP raised its stake in shares of MaxLinear by 21.8% during the 3rd quarter. Two Sigma Advisers LP now owns 694,149 shares of the semiconductor company’s stock valued at $10,051,000 after purchasing an additional 124,300 shares during the period. Finally, State Street Corp lifted its holdings in MaxLinear by 5.1% during the 3rd quarter. State Street Corp now owns 4,123,419 shares of the semiconductor company’s stock worth $59,707,000 after purchasing an additional 198,791 shares in the last quarter. Hedge funds and other institutional investors own 90.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MXL. Craig Hallum dropped their price objective on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock 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. Susquehanna lowered MaxLinear from a “positive” rating to a “neutral” rating and lowered their price target for the company from $26.00 to $15.00 in a research report on Tuesday, October 1st. Needham & Company LLC reiterated a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. Finally, Northland Securities reduced their price objective on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $23.86.

About MaxLinear

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.