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

MaxLinear, Inc. (NASDAQ:MXL) VP William Torgerson sold 6,100 shares of the firm’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 sale, the vice president now directly owns 179,262 shares in the company, valued at $2,760,634.80. This trade represents a 3.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

MaxLinear Stock Performance

Shares of MXL stock opened at $14.86 on Friday. The stock’s fifty day simple moving average is $14.25 and its 200 day simple moving average is $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, Inc. has a one year low of $11.08 and a one year high of $26.59.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings data 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). MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. The business had revenue of $81.10 million during the quarter, compared to the consensus estimate of $80.40 million. During the same quarter in the previous year, the firm posted ($0.02) EPS. The company’s revenue for the quarter was down 40.2% compared to the same quarter last year. On average, equities analysts anticipate that MaxLinear, Inc. will post -1.66 EPS for the current fiscal year.

Hedge Funds Weigh In On MaxLinear

Several institutional investors have recently bought and sold shares of the business. Hood River Capital Management LLC bought a new stake in shares of MaxLinear during the second quarter worth $24,184,000. Vaughan Nelson Investment Management L.P. bought a new stake in shares of MaxLinear during the third quarter worth $16,696,000. Millennium Management LLC raised its position in shares of 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 acquiring an additional 788,558 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of MaxLinear by 5.8% during the first quarter. Vanguard Group Inc. now owns 12,253,823 shares of the semiconductor company’s stock worth $228,779,000 after purchasing an additional 667,550 shares during the period. Finally, FMR LLC grew its stake in shares of 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. Institutional investors own 90.79% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on MXL. Benchmark reaffirmed a “buy” rating and issued a $22.00 target price on shares of MaxLinear in a report on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a report on Thursday, October 24th. Stifel Nicolaus lifted their price objective on MaxLinear from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Susquehanna lowered MaxLinear from a “positive” rating to a “neutral” rating and decreased their price objective for the stock from $26.00 to $15.00 in a report on Tuesday, October 1st. Finally, Northland Securities decreased their price objective on MaxLinear from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. 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 company. According to MarketBeat, the company currently 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.