MaxLinear (NASDAQ:MXL) Stock Price Down 5.7% After Insider Selling

Shares of MaxLinear, Inc. (NASDAQ:MXL) were down 5.7% during trading on Tuesday following insider selling activity. The stock traded as low as $19.69 and last traded at $19.71. Approximately 126,803 shares were traded during trading, a decline of 88% from the average daily volume of 1,037,065 shares. The stock had previously closed at $20.90.

Specifically, insider Steven G. Litchfield sold 32,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $20.35, for a total transaction of $651,200.00. Following the transaction, the insider now directly owns 365,868 shares of the company’s stock, valued at $7,445,413.80. This trade represents a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wells Fargo & Company started coverage on shares of MaxLinear in a research report on Friday, November 22nd. They set an “equal weight” rating and a $14.00 price target for the company. Benchmark raised their price target on shares of MaxLinear from $22.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Craig Hallum dropped their price objective on MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a research report on Thursday, October 24th. Finally, Susquehanna cut MaxLinear from a “positive” rating to a “neutral” rating and dropped their price target for the company from $26.00 to $15.00 in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $23.14.

MaxLinear Stock Performance

The company has a 50 day moving average of $15.53 and a two-hundred day moving average of $16.08. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.95 and a quick ratio of 1.38. The company has a market capitalization of $1.65 billion, a PE ratio of -7.19 and a beta of 1.87.

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

Hedge Funds Weigh In On MaxLinear

Several large investors have recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in MaxLinear in the second quarter worth $30,000. International Assets Investment Management LLC bought a new stake in shares of MaxLinear in the 2nd quarter worth about $31,000. Truvestments Capital LLC purchased a new stake in shares of MaxLinear during the 3rd quarter valued at about $42,000. GAMMA Investing LLC lifted its holdings in shares of MaxLinear by 151.8% in the 3rd quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 2,093 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in MaxLinear in the second quarter worth about $56,000. Hedge funds and other institutional investors own 90.79% of the company’s stock.

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.