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

Shares of MaxLinear, Inc. (NASDAQ:MXL) traded down 5.7% on Tuesday following insider selling activity. The stock traded as low as $19.69 and last traded at $19.71. 126,803 shares traded hands during trading, a decline of 88% from the average session 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 stock was sold at an average price of $20.35, for a total value of $651,200.00. Following the completion of the transaction, the insider now directly owns 365,868 shares in the company, valued at $7,445,413.80. This trade represents a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Analyst Ratings Changes

A number of equities analysts have issued reports 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. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a report on Thursday, October 24th. Susquehanna downgraded shares of MaxLinear from a “positive” rating to a “neutral” rating and decreased their target price for the company from $26.00 to $15.00 in a research report on Tuesday, October 1st. Craig Hallum cut their price target on MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Finally, Benchmark lifted their price objective on MaxLinear from $22.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $23.14.

MaxLinear Stock Performance

The company has a quick ratio of 1.38, a current ratio of 1.95 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $15.64 and a two-hundred day moving average price of $16.09. The firm has a market cap of $1.64 billion, a PE ratio of -7.13 and a beta of 1.87.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MXL. Hood River Capital Management LLC acquired a new position in MaxLinear during the second quarter worth $24,184,000. Vaughan Nelson Investment Management L.P. acquired a new stake in MaxLinear during the third quarter worth about $16,696,000. Millennium Management LLC raised its stake in MaxLinear by 307.9% during the second quarter. Millennium Management LLC now owns 1,044,648 shares of the semiconductor company’s stock worth $21,039,000 after purchasing an additional 788,558 shares during the period. FMR LLC raised its stake in MaxLinear by 184.5% during the third quarter. FMR LLC now owns 456,929 shares of the semiconductor company’s stock worth $6,616,000 after purchasing an additional 296,339 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in MaxLinear by 36.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,089,065 shares of the semiconductor company’s stock valued at $15,770,000 after purchasing an additional 291,874 shares during the last quarter. 90.79% of the stock is currently owned by institutional investors and hedge funds.

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.