MaxLinear, Inc. (NASDAQ:MXL) VP William Torgerson Sells 6,100 Shares

MaxLinear, Inc. (NASDAQ:MXL) VP William Torgerson sold 6,100 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were 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 directly owns 179,262 shares in the company, valued at approximately $2,760,634.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

MaxLinear Price Performance

Shares of NASDAQ:MXL opened at $14.88 on Thursday. The company has a market cap of $1.26 billion, a PE ratio of -5.47 and a beta of 1.85. MaxLinear, Inc. has a fifty-two week low of $11.08 and a fifty-two week high of $26.59. The firm has a 50-day simple moving average of $14.25 and a 200 day simple moving average of $16.49. The company has a quick ratio of 1.38, a current ratio of 1.95 and a debt-to-equity ratio of 0.22.

MaxLinear (NASDAQ:MXL) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). The company 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 firm’s revenue for the quarter was down 40.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.02) earnings per share. On average, sell-side analysts anticipate that MaxLinear, Inc. will post -1.66 EPS for the current year.

Institutional Investors Weigh In On MaxLinear

Large investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its position in MaxLinear by 12.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,046 shares of the semiconductor company’s stock worth $334,000 after purchasing an additional 2,618 shares during the last quarter. Quantbot Technologies LP boosted its position in shares of MaxLinear by 111.7% during the third quarter. Quantbot Technologies LP now owns 66,363 shares of the semiconductor company’s stock worth $961,000 after buying an additional 35,018 shares during the period. FMR LLC increased its position in MaxLinear by 184.5% in the 3rd quarter. FMR LLC now owns 456,929 shares of the semiconductor company’s stock valued at $6,616,000 after acquiring an additional 296,339 shares during the period. Mirabella Financial Services LLP acquired a new stake in MaxLinear in the 3rd quarter valued at approximately $551,000. Finally, Truvestments Capital LLC bought a new stake in MaxLinear during the 3rd quarter valued at $42,000. 90.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MXL shares. Northland Securities cut their price target on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Stifel Nicolaus upped their target price on shares of MaxLinear from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Needham & Company LLC reaffirmed a “hold” rating 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 objective for the company from $26.00 to $15.00 in a report on Tuesday, October 1st. Finally, Benchmark reaffirmed a “buy” rating and set a $22.00 target price on shares of MaxLinear in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, MaxLinear has a consensus rating of “Hold” and an average price target of $23.86.

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.